Pyth

Pyth Network has launched Express Relay, a new product designed to address inefficiencies in DeFi protocols. Express Relay connects DeFi protocols directly to established searchers, allowing them to compete for priority in performing lucrative operations such as liquidations. This system aims to eliminate the extractive role of miners and validators in the MEV (Miner Extractable Value) process, potentially lowering costs for protocols and improving market efficiency. The Pyth DAO has approved the mainnet deployment of Express Relay, which is now live on EVM mainnets. Several prominent DeFi protocols with a combined TVL of $1 billion across 11 chains have already integrated with Express Relay. The product is supported by a network of leading institutional and decentralized on-chain participants. Integration with Express Relay is permissionless for both DeFi protocols and searchers.

Taiko, an Ethereum-equivalent ZK-EVM rollup, has integrated the Pyth oracle network, providing permissionless access to over 500 Pyth price feeds and verifiable on-chain randomness via Pyth Entropy. This integration empowers DeFi builders on Taiko to create robust and transparent financial applications leveraging Pyth's real-time price data and benchmarks. Several projects, including Hana Finance, Jax Finance, and KiloEx, have already integrated Pyth on Taiko. The partnership aims to foster innovation and accessibility for developers within the Taiko ecosystem.

The Pyth pull oracle has facilitated 90% or more of the total traded volume on 23 different blockchain networks. Pull oracles allow users to request frequent price updates on-demand, enabling Pyth's rapid scaling across multiple chains. This permissionless system for retrieving real-time pricing data has made Pyth a dominant force in the decentralized finance ecosystem.

According to reports, the cumulative trading volume on a decentralized finance (DeFi) platform has experienced a remarkable surge, reaching over $400 billion in April 2024. This substantial growth is attributed to the platform's high-throughput capabilities, facilitated by the Pyth oracle network.

Pyth's Total Value Secured (TVS), a metric representing the aggregate value of assets secured by the Pyth network, has witnessed a remarkable surge in 2024. Over the span of four months, the TVS has escalated from $1.7 billion to an impressive $4.2 billion, indicating substantial growth and adoption of the Pyth oracle network.

The Pyth network, a major decentralized financial data feed, has achieved a significant milestone by reaching $2 billion in cumulative volume traded. This achievement comes as the network continues to gain traction, with projections indicating that the $10 billion mark could be reached soon. The Pyth network is known for its role as a first-party oracle network, providing reliable and decentralized data to various decentralized applications and protocols.

Pyth, the largest first-party oracle network, has announced an upcoming drop of three motion art pieces created by @iiinaive, an OG Pythian and Egg Dealer at @WoollyEggs. These pieces will soon be available in the @drip_haus vaults. Pyth has provided a link to join their Discord server and the Pyth Drip channel for more information.

Gamblino is a decentralized GambleFi platform on Sei Network V2 EVM, offering a variety of betting options including crypto, sportsbooks, and classic games. It features player-vs-player (PvP) games with a Tote betting model, traditional house-style (PvH) sportsbooks and casino games, as well as innovative games like Market Minds and Flip Master. All games are designed to ensure fairness and transparency through secure smart contracts and blockchain verification. Gamblino utilizes Pyth Entropy to guarantee tamper-proof randomness for games like Dice and Flip Master, ensuring every game outcome is fair and transparent.

Cboe Global Markets, a 51-year-old exchange operator with $3.7 billion in revenue, is also a data provider to Pyth, a decentralized financial data network.

CyberDEX, a decentralized perpetual swaps platform on Optimism, has integrated Pyth Price Feeds to enhance its execution capabilities and offer traders rapid and precise price information, improving order execution quality and trader satisfaction. DeltaTrade, a multi-chain protocol offering decentralized trading and sophisticated on-chain trading strategies, has also integrated Pyth Price Feeds to ensure trading bot creation is done against real-time prices, manage slippage, and enable features like unactivated trading vaults and automated take-profit and stop-loss setups.