Pythiad #8: Powering Up
Mar 1, 2022
Welcome to the 8th instalment of the Pythiad, the Pyth network newsletter!
For those who missed Pythiad #1, Pythiad #2, Pythiad #3, Pythiad #4, Pythiad #5, Pythiad #6 or Pythiad #7 be sure to check them out. We covered just about the entire history of the Pyth network until today!
To our followers: thank you for all your support, feedback, and good vibes! And to our newcomers, we say welcome.
We are delighted to have you on board. As always, there is much to discuss.
Coming Up
Pyth Developments
Pyth End-Users
Pyth Publishers
Pyth Metrics
Pythian Community
Pyth Developments
Pyth Publisher Metrics
On the 15th of February, the Pyth network released its publisher metrics, a new analytics feature on the Pyth website providing insights into the historical performance of the network’s data sources to empower developers, publishers, and delegators. This powerful tool reflects our commitment to transparency and delivering timely, accurate, and valuable first-party data for everyone.
Check out our blog post to learn more.
TL;DR:
Developers benefit from granular insight into Pyth’s data performance and publishers’ track records
Publishers benefit from new analytics and monitoring capabilities.
Delegators will benefit from increased transparency on publisher data quality, which can better inform their staking decisions
Trading Volume
Consider the amount of trading volume that depends on Pyth’s data. Each protocol has its own Pyth integration: perpetual contracts using a CLOB or a vAMM use Pyth as their index reference to set the funding rate. Synthetics platforms use Pyth price feeds as the exchange rate basis for swaps in between synthetic assets. Futures or Options protocols (specifically DOVs) are integrating Pyth feeds for their options or futures settlement.
Pyth price feeds played a crucial role for these protocols and enabled over $3.7B in volume traded.
Publishers
Data is king, and the Pyth network stands committed to onboarding only high-quality data sources and establishing a direct bridge — without any middlemen — between these sources and the blockchain. As of today, the Pyth network has attracted 46 publishers to the network (45 excluding Amberdata on March 1st).
NPM & Rust Downloads
Pyth network is open-sourced and its data is freely queryable.
A way to check on Pyth network’s adoption rate is to look up the NPM & Rust downloads. NPM (“Node Package Manager”) is the default package manager for JavaScript’s runtime Node.js, which is needed whenever you want to integrate Pyth on your website frontend.
A (rust) crate is a binary or library. The crate root is a source file that the Rust compiler starts from and makes up the root module of your crate. This enables you to call on-chain data and make your protocol works.
Something has been awakening since December, and the trend looks like ‘up only’.
Pythian Community
Singapore Hacker House
The Solana Foundation x Zeta Markets Hacker House was held over 6 days in Singapore (Feb 15–20) and saw hundreds of participants meeting face to face. During the event, a short Pyth network crash course presentation was given. Those in the hacker house will also remember a Zeta x Pyth panel that focused on Solana infrastructure!
One more Hacker House is taking place this week (March 1–6) in Prague. On top of this, many more events are in the pipeline, so stay tuned — wink wink New York Hacker House (Mar 14–18).
Twitter Spaces
Throughout February, Pythians have gathered in Twitter Spaces with teams that have either integrated the Pyth feeds or contributed data to the network.
Pyth x Zeta (27th Jan)
Pyth x Serum (3rd Feb)
Pyth x Drift (8th Feb)
Pyth x Token Damo (18th Feb)
Pyth x Katana (23rd Feb)
Pyth x Crypto RoundUp Africa (24th Feb)
Pyth x MarginFi (1st Mar)
Pyth x Burnt Finance (1st Mar)
More Spaces will come in March with other amazing teams, so stay tuned!
In addition to Spaces, March may see the first-ever Discord Townhall for the Pythians, so be sure to join our Discord.
Pythian Quiz
Twice a month, Pythians Discord members competed in Quizzes about the Pyth network. Each time, even the top minds win a sub-set of possible prizes. Our 8th quiz concluded on Feb 28, had about 300 participants. Only two of them have scored 100% this time. Will you be up to the challenge for the 9th Pyth Quiz?
Flag Monkez & Pyth NFTs
This month saw an NFT project: Flag Monkez. We are proud to be one of the 151 Solana projects Flag Monkez will create an NFT for.
Speaking of Pyth NFTs, we had a few proud Pythians exhibiting their collection.
Build in the Open
In our quest to make high-quality first-party data available freely to everyone — not the case today in traditional markets or on-chain — it’s only logical for Pyth’s contributors to work out in the open, alongside the community. In this spirit, the Pyth repo has been open-source since Day 1.
Being open-source has a key advantage: anyone can start building with Pyth data without requesting access or permission.
Exhibit 1 is a JS developer stoked for collecting pricing data for mSOL/USD. Exhibit 2 is from a developer looking to learn more Solana by building “anchor-options”, a cash-settled European options protocol written in Rust/Anchor.
We can’t wait to hear what you think! You can join the Pyth Discord and Telegram, follow us on Twitter, and be the first to hear about what’s new in the Pyth ecosystem through our newsletter. You can also learn more about Pyth here.
