Significant Trading Volume Surge Powered by Pyth Oracle Network
Significant Trading Volume Surge Powered by Pyth Oracle Network
💥 Flash Billion Trades
On March 29th, 2024, the Pyth oracle network facilitated an unprecedented $1 billion in trading volume within a short period of time. This follows an earlier report from March 25th, where the Synthetix protocol experienced a tenfold increase in trading volume, from $5 billion to $50 billion, after integrating with the Pyth network. The Pyth network is known as the largest first-party oracle network in the cryptocurrency ecosystem.
$1B volume traded in a flash powered by Pyth ⚡🔮
$1 Billion in Volume and still counting! ⚡️
.@synthetix_io went from $5 Billion → $50 Billion in trading volume after switching to Pyth 🔮
Pyth Network Adds $INIT and $HYPER Tokens
Two major blockchain tokens have joined the Pyth Network ecosystem: - **$INIT**: Initia's native token is now live on Pyth, accessible across 100+ blockchains - **$HYPER**: Hyperlane's native token received a day-1 listing due to high demand, also available on 100+ blockchains permissionlessly Both integrations expand cross-chain accessibility and price feed availability for these tokens through Pyth's oracle network.
Proof of Pyth Continues Expansion
Pyth Network continues its steady expansion across blockchain ecosystems, with recent integration on TON blockchain marking its latest milestone. The oracle network now provides price feeds on over 100 blockchains permissionlessly. Key developments: - Integration with TON blockchain - Launch of syUSD with Pyth price feeds - Public backing from Pyth MDPs (Market Data Partners) - Integration with TradeOnDESK platform Pyth's consistent growth demonstrates increasing adoption of decentralized oracle services across DeFi ecosystems.
Pyth Network Expands with ZORA Token Integration
Pyth Network has expanded its oracle services with the integration of $ZORA, the native token of Zora protocol. The price feed is now accessible across more than 100 blockchains in a permissionless manner. Key Updates: - $ZORA/USD price feed now live on Pyth Network - Available on 100+ blockchain networks - Permissionless integration capabilities Developers can integrate $ZORA price feeds through the [Pyth Network interface](https://www.pyth.network/price-feeds/crypto-zora-usd).
Express Relay: A Solution to DeFi's MEV Problem
**Express Relay** introduces a new approach to combat Miner Extractable Value (MEV) in DeFi, which has cost users over $150M. Key features: - Protocols auction trades to verified searchers off-chain - Direct execution between searchers and protocols - Eliminates validator interference and hidden fees - Average 65% savings in liquidation bonuses Partners include major firms like Wintermute, Flow Traders, and Auros Global. Learn more: [Express Relay Documentation](https://docs.pyth.network/express-relay)
Pyth Price Feed Council Election Enters Final Phase
The Pyth Network's Price Feed Council election is reaching its conclusion. This critical vote will determine the council members responsible for: - Managing Pyth's available price feed list - Overseeing delegate publisher selection **Key Details:** - Voting platform: [Realms](https://app.realms.today/dao/PYTH/proposal/55zfNQK3EUZf5516sysMJDMcRpyy9qUuMksmaZfM7xev) - Multiple candidates including @ndiakom, @totomanov, @Mariobern_, @LawrenceGS, @silverfox8465, @xbtogroup, and @GuruXing Cast your vote now to help shape Pyth's future governance.