Pyth Price Feeds are Live on Base and Sei
During this hot summer season, Pyth Price Feeds have continued to expand into even hotter new blockchains—Base and Sei.
Congratulations to Sei on their mainnet launch! Sei is a general-purpose, open-source Layer 1 blockchain specialized for the exchange of digital assets.
The Sei blockchain is designed to be one of the fastest blockchains in the industry, and thus a ripe environment for deploying Pyth Price Feeds to support high throughput DeFi. Borrow-lending protocols Aether, Kryptonite, and Kawa Finance, as well as decentralized exchanges Fuzio, Levana, and SeaSwap are now using Pyth Price Feeds.
You can learn more about our integration with Sei in our launch blog.
Pyth Price Feeds have also launched on Base, the Ethereum Layer 2 network by Coinbase. Base offers secure, cost-effective solutions for Ethereum developers by tapping into the open-source OP Stack thanks to their partnership with Optimism.
Developers on Base can permissionlessly access all of Pyth’s 300+ permissionless price feeds. DeFi applications like CAP Finance, Perennial, DePerp, Buffer Finance, and Pike are already using Pyth data or have started integrating.
To learn more about our integration with Base, you can check out our blog post.
Stablecoins and Pyth Price Feeds
Earlier this week, we delved into the world of stablecoins and how they support the Web3 capital markets. Pyth Price Feeds play a paramount role in the stablecoin landscape.
As most of our readers know, stablecoins are a type of cryptocurrency designed to maintain a stable value by being pegged to a specific reserve asset, such as a fiat currency like the US Dollar or a commodity like gold.
Since stablecoins play a critical role in the DeFi ecosystem as a store of value and means of transfer, the Pyth Network supports the most popular stablecoin price feeds. Pyth’s stablecoin feeds enable dApps to track the underlying value of stables, even in the rare case of depegs.
Pyth Network provides the greatest oracle coverage for stablecoins. There are currently 11 different stablecoins Pyth Price Feed live today: USDT (Tether), USDC (Circle), DAI (Maker), BUSD (Binance), EUROC (Circle), USDD (Tron), OUSD (Origin Dollar), USTC (Luna Classic), TUSD (TrueUSD), CUSD (Celo USD), and FRAX (Frax Finance). Like all other Pyth Price Feeds, the Pyth stablecoin feeds are available on more than 30 blockchains.
The work doesn’t stop here. The Pyth Network’s contributors are working towards supporting LUSD (Liquity), VAI (Venus), FDUSD (First Digital Dollar), HAY (Helio), and USDP (Paxos USD). More announcements soon on the progress of these ambitious stablecoin initiatives.
You can read more on our original stablecoin price feed blog post.
#PoweredByPyth Applications
The Pyth Network continues to grow. It’s rare to see a day without new dApp and data providers joining the network.
New dApps Using Pyth
- Cochilli, a prediction marketplace built on Base
- LogX, a perp aggregator protocol with aggregated liquidity on Arbitrum, and soon, Mantle
- Aether Protocol, a peer-to-peer algorithmic money market on Sei
- REAX, the first trustless synthetic asset issuance, and trading protocol live on Mantle
- ABEx, a revolutionary on-chain derivative protocol built on Sui
- Fuzio, a full-suite DeFi app (prediction markets, a DEX, launchpad, and liquid staking solutions) on Sei
- Kryptonite, a SEI liquid staking platform with integrated money markets on Sei
- Levana, a collateralized perpetual trading app
- Sea Swap, a layered DeFi platform on Sei with OTC swaps, launchpad, and DEX
- Pike, a universal liquidity protocol on Base
DeFi Partners Updates
- Solend, the long-time leader in borrow/lending on Solana, launched Margin last week
- D8X, a decentralized derivatives platform built on Polygon zkEVM, raised a $1.5M Pre-seed round
- DePerp, a perpetual DEX, launched their testnet on Base
- FusionX Finance, a cutting-edge DEX, appears in our newest Pyth Case Study
- CAP, a decentralized perpetual protocol on Arbitrum, expands on Base
- Buffer, a non-custodial exotic options trading platform, is live on Base
- Perennial, a decentralized derivatives protocol, launches on Base
- Zerolend integrates Gelato and Web3 Functions (#PoweredByPyth)
- Slide APP V2 for social traders is live on Solana
- Sable launches their mainnet on BNB and Arbitrum
- Jet reveals Fixed Lending product, a marketplace for negotiating rates on an order book
Pythian Stats
Amidst the bear market, resilient DeFi developers were heads down with work and persevered. With the rise of high throughput DeFi from Solana came a new generation of dApps in 2023. Pyth saw an impressive three new integrations per week since the start of this year.
The network is now securing at least 180 protocols. This number is most likely a conservative count, given that builders can integrate Pyth Price Feeds permissionlessly.
You can explore the Pyth documentation to learn more.
Synthetix, the renowned liquidity backend primitive for on-chain derivative contracts on Optimism, has experienced a fundamental transformation in performance since integrating with Pyth.
Synthetix completed its integration in December 2022 and has since processed an impressive $22B in volume from its previous $5B total. This is a shoutout to all DeFi developers. Let us know how Pyth Price Feeds will unlock the growth and momentum your dApp deserves.
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.
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