back01 Sep 20234 min read
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Pyth Monthly Update I August 2023

"August creates as she slumbers, replete and satisfied." — Joseph Wood Krutch

August '23 Momentum

This August was the culmination of a Pythian Summer. The Pyth Network took no rest in delivering data and expanding its reach.

It’s time to update our public stats. August returned a bountiful harvest, with six new blockchain integrations. Two of the most anticipated chains include Base and Scroll. Leading dApps such as CAP Finance, Perennial, DePerp, Buffer Finance, and Pike Finance have already integrated with Pyth Price Feeds on Base.

Pyth Network is expanding throughout the cosmos. After Injective, Osmosis, and Neutron, Pyth Price Feeds next launched on Sei on their mainnet launch day. Sei dApps such as Aether Protocol, Fuzio, Kawa Finance, Kryptonite Finance, Levana Protocol, and SeaSwap are setting sail with Pyth data.

We’ve also taken the time to pay homage to the Bitcoin community. Pyth Price Feeds are now available on the Bitcoin L2 network, Stacks. You will soon find Pyth data powering ALEX, Arkadiko Finance, Hermetica Finance, and Zest.

Let’s look at the numbers. Daily average price updates have gone parabolic. We started from 200K in June, 1.4M in July, to 1.9M in August. Every price update is a Pyth Price Feed delivering a price point to a blockchain. Every price delivery is paid for by a user or ecosystem participant downstream—a testament to the true demand for Pyth data. (Note: these stats exclude Solana).

Close readers will know that the Pyth Network protocol is designed to accept data fees to update on-chain prices. Governance will determine important parameters of these fees. Stay tuned.

100m+ Cumulative Cross-Chain Updates

🤝 Partnerships

New dApps Using Pyth

  • Thales, an on-chain, permissionless, and non-custodial positional markets protocol focusing on simplicity—now #PoweredByPyth on Optimism, Arbitrum, Polygon, BNB and Base
  • WEMIX.Fi, a fully on-chain DeFi platform supporting storage, exchange, borrowing, settlement, and investment of crypto-assets
  • Nile, and NFTFi, a decentralized protocol that allows users to transform your NFTs into financial products
  • ALEX, a Bitcoin DeFi protocol enabling anyone to launch, bridge, trade, and earn interest
  • Arkadiko Finance, a decentralized, non-custodial liquidity protocol for minting stablecoins, earning interest on deposits, and borrowing assets on Stacks
  • Hermetica Finance, a protocol for non-custodial structured financial products for Bitcoin. Hermetica vault uses automated options strategies to generate a risk-adjusted yield on Bitcoin
  • Zest, the first Bitcoin native lending protocol that uses smart contracts that create and adjust liquidity pools to fund loans, distribute rewards to BTC liquidity providers, and process withdrawals
  • Mooncake Finance, a decentralized lending market that allows users to lend and borrow assets on Linea and Base
  • Reax Finance is the first trustless synthetic asset issuance and trading protocol live on Mantle
  • LogX, a perpetual aggregator protocol with aggregated liquidity on Arbitrum, and soon, Mantle
  • ImmortalX, the first decentralized perpetual exchange on Celo
  • Tashi, a borrow-lending platform on EVMOS
  • El Dorado Exchange is a perpetual DEX on Base and Arbitrum
  • CoChilli is a prediction marketplace built on Base which can resolve markets every second

DeFi Partner Updates

Data Provider Updates

  • mrgn research, an integrative proprietary trading firm, is joining the Pyth Network’s data provider community
  • Radix, a renowned research firm in the trading industry, has also joined as a data provider
  • Quiver, a hybrid cryptocurrency exchange with an innovative approach based on batch auctions, is now contributing data to Pyth Network

⚙️ Development

New Contributors Joining the Pyth Network

Welcome Douro Labs as the newest core contributor to the Pyth Network

New Blockchains Integrated with Pyth

New Price Feeds

Other Updates

💃 Events

Pyth in Person

Online Events

🫂 Community and Socials

We can’t wait to hear what you think! You can join the Pyth Discord and Telegram, follow us on Twitter, and be the first to hear about what’s new in the Pyth ecosystem through our newsletter. You can also learn more about Pyth here.

Stay Updated with Pyth

Stay informed about Pyth network's development and upcoming events!

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