Pyth Monthly Update I August 2023

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

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.

🤝 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

• mmm #PoweredByPyth ice cream so good 🍦

• A zkSync DeFi Ecosystem #PoweredByPyth

• Kwenta, a decentralized trading platform built on top of Synthetix, is now #PoweredByPyth and Gelato Web3 Functions

• Synthetix, the leading decentralized synthetic protocol on Optimism, facilitated over $22B in volume since becoming #PoweredByPyth

• Levana, a fully collateralized perpetual protocol on Osmosis has processed over $40M in trading volume since integrating with Pyth

• ABEx Finance, a perpetual protocol on Sui, already enabled over $10M in trading volume

• Solend, the long-time leader in borrow/lending on Solana, launched Margin to enable users to trade with leverage

• Buffer Finance, a decentralized perpetual platform, is launching its version 2.5 which will feature 1-click trading

• FusionX, a cutting-edge decentralized exchange, is now a top 3 dApp on Mantle

• Sable Finance is now live on mainnet. Sable is pioneering the first-ever decentralized stablecoin,$USDS, which accepts $ETH LSD as collateral both on BNB Chain and Arbitrum

• SeaSwap launches SINK or FLOAT, a price-guessing game on the Sui Network

• Jet Protocol launches Fixed Rate—a first-of-its-kind marketplace for negotiating rates on an order book thanks to Pyth data

• CAP Finance, a decentralized perpetual protocol, has expanded to Base

• Merkle Trade, a decentralized leverage trading platform is now live on Aptos

• D8X, a decentralized derivatives platform is now live on Polygon zkEVM testnet

• DePerp, a perpetual DEX, is available on Base testnet

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

• Wemix

• Stacks

• Scroll

• Sei

• Base

• EVMOS

New Price Feeds

• ENS/USD, GRT/USD, STX/USD, TURBOS/USD, GLMR/USD, WEMIX/USD, MTR/USD, KSM/USD, RUNE/USD, MKR/USD, ARKM/USD, SUSHI/USD, SEI/USD, WLD/USD, IDEX/USD, MNDE/USD, MNT/USD, VELA/USD, and EOS/USD

Other Updates

• Gelato Web3 Functions for the Pyth Price Feeds

• ZeroLend Open Source Pyth x Gelato Integration

💃 Events

Pyth in Person

• Pythians are now official Silver Partners of Token2049 in Singapore

Online Events

• Podcast with Unchained: Mike Cahill presents Douro Labs

• Webinar with Digital Asset Research: Real-world Utility and Assets.

• Space with Arbitrum: High-Throughput DeFi

• Space with Liquity: All Things Oracles

• Space with LogX: Trading on Mantle

• Space with Lendle: Lending on Mantle

• Space with Lendle #2: DeFi on Mantle

• Space with Quiver: Unlocking DeFi with Financial Data

• Space with WispSwap: DeFi on Sui

🫂 Community and Socials

• Happy Birthday, Pyth Network!

• Pyth Quests are now live on Zealy!

• Pyth “Did You Know?”

• Pyth versus Legacy Oracles

• The World #PoweredByPyth

• 100+ DeFi(Llama) Integrations

• 300% Growth

• High-throughput DeFi

• Pyth Benchmarks—Explained by Thales!

• Pyth Price Feeds Blog: DeFi Tokens Edition

• Pyth Price Feeds Blog: Stablecoins Edition

• TradingView Pluggin #PoweredByPyth

• Pyth en français!

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.