back03 Dec 20233 min read
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Pyth Monthly Update | November 2023

"Fear not November’s challenge bold."—Alexander L. Fraser

Pyth Momentum November 2023

November was a landmark month for the Pyth Network, with its permissionless mainnet and token-led governance going live.

This launch opens the door for broader stakeholder participation and community decision-making. On-chain governance will cover important protocol matters ranging from reward structures for data providers to the structure and denomination oracle fees.

We welcome both new and veteran Pythians who are exploring the Retrospective Airdrop. This program is the largest cross-chain airdrop of its kind. Over 90K wallets across 27 blockchains and participants across hundreds of dApps were eligible for PYTH Tokens.

The oracle network continues to expand to new blockchains. Ever more applications are integrating with Pyth Price Feeds and Pyth Benchmarks to take advantage of ultra low-latency price updates, high fidelity data quality, and real-time confidence intervals. More than 25% of all DeFi dApps are now #PoweredByPyth according to DefiLlama. Pyth data now powers applications from Starknet to Arbitrum, Cronos to zkSync Era, Optimism to Base, and beyond. Let’s not rest on our laurels yet: there is still more to build.

🤝 Partnerships

New dApps Using Pyth

  • Paradex, the first crypto-derivatives exchange built on its own Starknet appchain.
  • Parifi, a decentralized perpetual protocol on Arbitrum.
  • Y2K Finance, a suite of structured products designed for exotic peg derivatives.
  • DexToro, a decentralized derivatives trading platform built on top of Synthetix.
  • Tectonic, the leading money-market protocol on Cronos.
  • Degen Bets, a decentralized perpetual protocol built by WINR Protocol on Arbitrum.
  • Jupiter, launched its novel LP-to-trader perpetual exchange.
  • Derivio, an institutional-grade structured derivatives ecosystem on zkSync.
  • zkUSD, allows users to leverage the benefits of collateralized stablecoins while ensuring privacy and security.
  • Mu Exchange, the first perpetual DEX on Gnosis which uses $sDAI as collateral.
  • Goku Money, a multi-collateral and capital-efficient stablecoin on the Manta.
  • DeCalls, a prediction market protocol where anyone can try to guess the future price of $SOL.
  • RainFi, a lending, borrowing, and BNPL platform, which released the first-ever P2P token loans product.
  • Dyson Finance, a decentralized exchange that democratizes liquidity for everyone, driving the paradigm shift of "Retail Investors as LPs.”
  • Basemax, a decentralized perpetual trading powerhouse on Base.

DeFi Partner Updates

  • Kamino Finance 2.0 launches as a complete and secure DeFi suite for lending, liquidity, and leverage on Solana.
  • Synthetix to launch their perps V3 on Base.
  • Avantis launches their public testnet on Base.
  • Paradex, building on Starknet, reached $1B in traded volume.
  • Pika just reaches a huge milestone of $2B in traded volume.
  • Lifinity reaches $4B in traded volume on Solana.
  • LayerBank integrates with Pyth’s $wstETH feed.

⚙️ Development

New Blockchains Integrated with Pyth

New Price Feeds

💃 Events

Pyth in Person

Online Events

🫂 Community, Socials and Others

We can’t wait to hear what you think! You can join the Pyth Discord and Telegram, and follow us on X. You can also learn more about Pyth here.

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