Pyth

PythNetwork, a prominent first-party oracle network, has announced the addition of a referral points system to their existing points program. This new feature allows members of the PythNetwork community, known as Cloners, to earn points by inviting their friends to join the network. The referral points initiative aims to incentivize the growth of the PythNetwork community.

Mage Finance has launched a decentralized Bitcoin money market on MerlinChain's zk-rollup technology, allowing users to lend, borrow, and earn with Bitcoin assets within the DeFi ecosystem. The Mage Chain, recognized as the first Bitcoin L3 appchain, aims to improve interoperability and security in the CeFi sector through advanced technologies like zk-DID. Mage Finance leverages Pyth Price Feeds for real-time and high-quality financial data, ensuring precision and reliability on its platform.

The Pyth contributors have been working on a new project inspired by the community's fondness for Zarpythia's Dojo, according to an announcement made on April 1st, 2024. Pyth is the largest first-party oracle network.

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.

The Pythian and Price Feed Councils, responsible for managing the largest first-party oracle network, have been actively engaged in their work, according to recent reports.

Doubler is an open DeFi gain strategy protocol platform that has integrated Pyth Price Feeds to ensure accuracy in its innovative pooling mechanism for cryptocurrency asset investment strategies. When users initiate a Doubler pool, the smart contract taps into Pyth to obtain real-time asset prices. Doubler aims to optimize investment strategies by aggregating market liquidity using the martingale strategy, catering to both risk-averse and profit-seeking participants. It offers automated contract execution, external risk isolation, no extra costs, and community collaboration.

bitSmiley, a decentralized stablecoin protocol built on the Bitcoin blockchain, has integrated Pyth Price Feeds to ensure accurate pricing for its Bitcoin-based financial products. Pyth's oracle data is sourced from institutional and decentralized sources actively involved in price discovery, providing highly reliable and secure price feeds. bitSmiley offers a stablecoin protocol, lending platform, and derivatives protocol, creating a comprehensive DeFi ecosystem on the Bitcoin blockchain.

The Pyth Network has announced a partnership with Ambient Finance, a leading decentralized exchange (DEX) protocol operating on multiple blockchains including Ethereum, Blast L2, Scroll ZKP, and Canto Public. Ambient Finance will contribute market data from its deep liquidity pools to the Pyth Network, enhancing security, efficiency, and transparency of on-chain financial data. Doug Colkitt, Founder of Ambient Finance, expressed excitement about leveraging their market data to support the Pyth Network ecosystem and playing a role in its growth.

Twitter has announced the acquisition of the 'Gold Tick' verification system, which is touted as the largest first-party oracle network. This move is expected to enhance Twitter's ability to verify the authenticity of information shared on its platform, potentially improving the credibility and trustworthiness of content.

Echelon, a new Move-based money market on Aptos, has launched on the mainnet. It is a DeFi platform that facilitates non-custodial borrowing and lending through pools. Borrowers must provide overcollateralized loans, and the platform has robust risk management parameters. Echelon leverages Pyth Price Feed as the primary provider for its price feeds, which are crucial for loan origination and liquidation processes, ensuring market stability within the protocol.