Mu Exchange Launches Open Beta as the First Perpetual DEX on Gnosis Powered by Pyth

Pyth Network has launched continuous pricing indices for precious metals, covering Gold (XAU) and Silver (XAG). These new Metals Indices provide around-the-clock pricing for safe-haven assets, eliminating traditional market gaps. **Key Details:** - Gold and Silver now priced 24/7 without interruptions - Part of Pyth's broader 24/7 Indices suite - Joins existing continuous pricing for US equities, oil, and FX This launch follows Pyth's recent partnerships with major exchanges including [Coinbase, Kraken, and dYdX](https://www.pyth.network/success-stories/how-dydx-powers-always-on-derivatives-with-pyth-indices), which are already using Pyth Indices to power always-on derivatives markets. The metals indices address a growing demand for continuous pricing infrastructure in tokenized assets and perpetual markets. Pyth sources prices directly from institutional publishers and liquid venues globally, providing real-time data for markets that never close.

**dYdX has partnered with Pyth to launch continuous trading markets for traditional assets.** The platform now offers: - **24/7/365 trading and position management** for traditional assets, including oil perpetuals - **Multi-source pricing** for liquidations and funding rates - **Resilient index levels** that maintain stability during volatility spikes As a launch partner for the Pyth 24/7 Oil Index, dYdX eliminates the constraints of traditional market hours. Traders can now access oil perpetuals that remain active and properly priced through weekends and holidays. This integration reduces platform-specific pricing risk and removes the need to wait for market opening bells. The continuous pricing model provides traders with more flexibility and reduces gaps in market access that typically occur in traditional finance.

**The Challenge of Round-the-Clock Trading** Exchanges operating 24/7 markets historically faced two problematic approaches: - **Internal orderbook pricing** - Creates isolation risk and potential manipulation - **Custom estimation logic** - Lacks independent verification during off-hours Both methods increase platform-specific pricing vulnerabilities. **The Broader Context** As markets move toward continuous operation, the need for reliable, independently verified pricing becomes critical. Traditional approaches leave gaps in price discovery when legacy trading hours end.

**The Problem with Always-On Trading** Perpetual exchanges in DeFi operate continuously, but face a critical infrastructure challenge when listing traditional assets: - **Market mismatch**: DeFi platforms trade oil, equities, and other legacy assets 24/7 - **Price discovery freeze**: When traditional markets close, there's no reliable price reference - **Structural gap**: The trading happens around the clock, but price infrastructure hasn't caught up This creates uncertainty during off-hours when legacy venues are closed but DeFi trading continues.

Pyth Network continues to provide real-time pricing for 11 US equities even when traditional markets are closed, including during the Juneteenth holiday. **Key Features:** - 24/7 pricing availability for US equities - Data sourced from the most liquid trading venues - Maintains operations during official market closures This follows Pyth's track record of providing exclusive access to after-hours trading data, including from Blue Ocean ATS, which processed $10.5B in US equities during a weekend in February when traditional exchanges were closed.