Pyth Monthly Update | June 2023

“June is the time for being in the world in new ways, for throwing off the cold and dark spots of life.” — Joan Chittister

Summertime! A time of relaxation for some, and a time for continued dedication for the Pyth Network contributors and our vibrant ecosystem of Web3 leaders and capital markets pioneers.

Let’s talk scalability. This month alone, Pyth brought its full catalog of 250+ price feeds to four new blockchains: Gnosis, Fantom, Osmosis, and Mantle. This rapid deployment is just a small glimpse of the scalability of Pythnet and the pull oracle model. As the L1/L2 thesis continues playing out, you can expect demand for Pyth data to multiply evermore.

In fact, demand has more than skyrocketed. With the launch of our Pyth Stats page, the community can observe an an exponential growth in data consumption on our cross-chain price update chart. Over the past week alone, the Pyth has delivered over 100K on-demand updates per day. More startling is the realization that the price updates chart currently does not show every chain where Pyth is available, such as Solana.

We will continue updating the the stats widget. In the meanwhile, you may be tantalized by tales of Helix on Injective consuming over 50K price updates per day, and Mars on Osmosis contributing another 10K updates,

You may have also realized that Kwenta and Gelato are working on a decentralized price scheduler for the Pyth Price Feeds. Decentralized applications will soon be able to fund a decentralized set of keepers or automation bots that programmatically pull Pyth prices on-chain at a pre-defined frequency. The result: steady price updates for early-phase builders looking to adopt and survey Pyth price feeds. More announcements on this to follow.

It must be DeFi summer again. Congratulations to Vela Exchange, HMX, Pika Protocol, DePerp, Basilisk, Merkle Trade, Cetus Protocol and many others within the Pythian ecosystem for their new launches! We are always here to support you 🫡

🤝 Partnerships

• Lido collaborates with Pyth Network to bring a permissionless stETH/USD feed to more than 20 blockchains!
• Pyth data on Aave? It’s more likely than you think! A successful temp check and a few more governance steps means that Pyth contributors will start integration work with Aave on Optimism!
• We’re honored to see academic leaders at Michigan Blockchain support the Pyth mission and Aave’s adoption of Pyth oracles
• Kwenta and Gelato bring on Pyth data!
• Synthetix Perps have become exceptionally competitive over the past six months thanks to Pyth
• Venus V4, an upcoming isolated money-market protocol on BNB Chain is just around the corner—and will be #PoweredByPyth!
• Pika Protocol, a decentralized trading protocol on Optimism, is launching soon with Pyth data!
• Vela Exchange, a leading DEX on Arbitrum, has opened to the public and facilitated more than $30M in volume in two days—all #PoweredByPyth!
• Polynomial, a UI for Synthetix perpetual products, launched advanced orders #PoweredByPyth
• HMX, a next-gen perpetual exchange on Arbitrum, has become #PoweredByPyth and launched on mainnet
• Narwhal, the perpetual DEX on BNB Chain, has expanded to Arbitrum and with Pyth data
• Mars, an autonomous credit protocol on Osmosis, has voted to become #PoweredByPyth
• DePerp, an upcoming perpetual DEX on Optimism and Base, is set to become #PoweredByPyth
• Morphex, the perpetual exchange on Fantom, is now #PoweredByPyth on BNB Chain after its cross-chain expansion
• KiloEX, a full-suite trading protocol on BNB Chain, has launched on mainnet and is #PoweredByPyth
• Sable Finance, the borrowing protocol and creator of Sablecoin USDS on BNB Chain and Arbitrum, are #PoweredByPyth
• Basilisk, a new money-market protocol is live on zkSync mainnet and #PoweredByPyth
• Clockwork, the automation platform on Solana, has launched Pyth price-based triggers
• Merkle Trade, a perpetual platform on Aptos, has become #PoweredByPyth
• Cetus Protocol, a DEX and concentrated liquidity protocol on Sui and Aptos, has integrated with the Pyth Prices
• Navi Protocol, Sui’s first native one-stop liquidity protocol, is #PoweredByPyth
• Fuzio, the Sei DEX and predictions market, will become #PoweredByPyth
• YouSUI, an all-in-one DeFi platform on Sui, is #PoweredByPyth
• Scallop, the first borrow-lending protocol on Sui, is #PoweredByPyth
• Sea Swap, a DeFi platform with OTC swaps, bonding curve launchpad, and DEX, has become #PoweredByPyth
• TTMzero, a part of United Fintech and a RegTech and Capital Markets technology specialist, is contributing data to the Pyth Network!
• LTP, a leading prime broker for investors in the digital asset space, joins the Pyth Network to deliver price data
• Selini, a leading digital assets trading and investment firm, has joined Pyth and will contribute its market data to enrich the network's data offerings

⚙️ Development

• Pyth launches low-latency pull oracles on Gnosis Chain
• Pyth launches on Mantle (testnet)
• Pyth data is also available on Fantom
• Pyth oracles are successfully voted into Osmosis
• New Pyth Price Feeds: IOTA/USD, META/USD, AXL/USD, KAVA/USD, GAL/USD, SWEAT/USD, GMX/USD, WAVES/USD, KCS/USD, and TON/USD

💃 Events

• FOCK IT, WE GO TO WAR with Zeta Markets and the Mad Lads!
• Pythians show up in the Aptos Warehouse in Amsterdam
• Pythians run a workshop in the Sui Builder House in Seoul
• It’s time to get hacking with Encode Club’s Solana Summer Hackathon, sponsored by Pyth Network, Phantom, Wormhole. Compete for the Pyth Bounty!
• Panel: Vela’s Official Launch AMA with Arbitrum, CamelotDEX, Axelar Network, and Vela Exchange themselves
• Panel: Pyth Takes on the Mantle with FusionX Finance and Mantle Network
• AMA: Kryptonite on Sei and Pyth Network
• Panel: DeFi Heavyweights Roundtable with Solana OG’s—Part 1
• Panel: What’s New in Sui? Join us and Navi Protocol, BlockVision, ABEx Finance, and Somis.xyz
• Panel: Closing the DeFi UX Gap on zkSync Era with SynFutures, Celer Network, Velocore, and DeFi Dad himself
• Panel: Sui Projects Mixer #3 with Turbos, Scallop, and Wormhole
• AMA: Merkle Trade Trading Contest

🫂 Community, Socials and Others

• Contributor Credence leads the way in covering Pyth in the month of May
• Where do Pyth Price Feeds source their data? What keeps them robust and secure? Watch Thomaz explain in our newest video
• LeoJ shows us how it’s done with his Pyth-inspired newsletter. Stay up to date with the markets and current events!
• Pyth cross-chain updates popped in late June with a lot of action from Sui…
• Nevertheless, Pyth transactions on Solana still outweigh cross-chain updates considerably
• What is the Pythian’s Lance? “I was never afraid of failure; for I would sooner fail than not be among the greatest”
• The Dragon Boat Festival means Health, Luck and Happiness
• Pythians are getting Pyth’ed!
• When gm is #PoweredByPyth!
• A Pythian Drip Code!

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.