Pyth

The Pyth Network, a leading first-party oracle network, experienced significant growth and activity during the first quarter of 2024. The report highlights network expansion and the launch of new products within the Pyth ecosystem.

Orbofi, an AI-generated content platform for web3, games, and the metaverse, has integrated Pyth Entropy to introduce randomness in the minting process of AI-generated NFTs and blockchain assets. This approach ensures fairness and equity in the distribution of attributes among AI-generated collections, making the asset creation process transparent and unbiased. Orbofi allows users to quickly generate game and media assets using AI technology, tokenize them on the blockchain for secure ownership and trade, and monetize their creations through cryptocurrency.

The Pyth oracle network, providing over 500 price feeds, has been deployed on Gelato's Polygon testnet called Blackberry. This allows developers to integrate with the Pyth oracle and access its price feeds in a permissionless manner. Gelato is a Web3 cloud platform enabling developers to deploy custom Layer 2 chains with Web2-like user experience and scalability. Blackberry is a publicly available Polygon testnet with the necessary infrastructure for building decentralized finance applications on-chain. It leverages the Polygon CDK framework, Sepolia as the data availability layer, and Ethereum as the settlement layer.

As of April 12, 2024, 330 decentralized applications (dapps) have chosen to utilize the Pyth network as their oracle solution. Pyth is a first-party oracle network, meaning it sources data directly from exchanges and market makers without relying on intermediaries. This update highlights the growing adoption of Pyth among dapp developers seeking reliable and decentralized data feeds.

The Pyth contributors have announced their readiness to support the Mode ecosystem by providing real-time data to power the launch of decentralized finance (DeFi) and Web3 applications. As the largest first-party oracle network, Pyth aims to facilitate the development of cutting-edge solutions within the Mode ecosystem.

Pyth, the largest first-party oracle network, has announced its integration with the Solana blockchain. This move enables builders on the Solana ecosystem to leverage Pyth's decentralized and high-performance data feeds for their applications and protocols.

Amped Finance has launched a decentralized perpetual exchange on the LightLink Chain, enabling leveraged trading with minimal fees and no price impact. The platform operates on-chain for transparency and utilizes Pyth Price Feeds to ensure accurate and manipulation-free pricing. Amped Finance emphasizes decentralization and aims to bring trust through clear fund management.

Pyth, a decentralized data provider network, has welcomed Portofino Technologies, a Switzerland-based crypto market maker, as a new data provider. Portofino will leverage its proprietary market-making technology to contribute data to the Pyth ecosystem. The partnership aims to support the growth of the Pyth network as it expands into more symbols, asset classes, and blockchains. Portofino's CEO Leo Lancia and Global Head of Business Development Shane O'Callaghan expressed excitement about collaborating with Pyth and contributing to its development.

According to reports, the trading volume for the month of March exceeded $7 billion. Additionally, there have been notable advancements in the decentralized finance (DeFi) sector, with the Pyth network being touted as a leading first-party oracle network for the next generation of DeFi applications.

The Pythians, the largest first-party oracle network, will be present at the upcoming Paris Blockchain Week event scheduled for tomorrow, April 9th, 2024. No further details about their participation or activities have been provided at this time.