The Pyth Forum Ascends | Newsletter #54

Welcome to the Pythiad, the official newsletter of the Pyth Network. Did you miss us? Biweekly updates on all things DeFi await you below. Let’s get started.

What’s New with Pyth

• Pyth Entropy is picking up serious traction: Over 21,000 random numbers have been generated in the past 4 days alone on Blast.

• Over 3 million paid-for price updates on average throughout April 2024 – all made possible by the Pyth pull oracle...

• Pyth Governance Forum recap: Proposal Op. PIP-10 (Optimize Pyth oracle program and decrease compute unit usage of price updates by 10-30%) was passed.

• Join the conversation and shape the Pyth Network by signing up for the forum. The Pyth DAO is now discussing how to deploy Pyth Price Feeds on opBNB.

What’s New with DeFi

Regulations

• Leveraged Ether ETF to start trading on June 2024.

• The House of Representatives passed a crypto market structure bill in an interesting first for the legislature.

• Republican Senator Tillis calls for a “light” crypto regulatory framework ahead of the presidential election.

• Bankrupt lender Genesis agrees to $2B settlement to repay users.

Technology and Development

• Ethereum-based domain protocol ENS seeks its own L2, possibly with ZK rollups.

• Solana validators are set to get more SOL as a fee proposal passes in favor.

• Plume, an L2 Blockchain for real-world assets, pulls $10M in seed funding from Haun and Galaxy.

Ecosystems

• Ethereum co-founder Joe Lubin says the ETF approval “changes everything.”

• Ethereum meme coins PEPE and MOG hit lifetime highs on Ether ETF filing approvals.

• Bitcoin spot ETFs now control over 1 million BTC: Grayscale and BlackRock collectively hold more than half of the $70.5B in BTC ETFs funds.

Exchanges

• Mt.Gox transferred $9B worth of Bitcoin to a single address as part of its repayment plans.

• Binance France replaces Changpeng Zhao with two new shareholders to comply with EU regulations.

• Binance secures a full virtual-asset services provider license in Dubai.

Gaming

• Sandbox launches a DAO in order to allow token holders to contribute to the game’s future.

• A tickle-to-earn cat game prompted a massive spike in Aptos transactions.

• FSL is releasing a new version of move-to-earn game Stepn, called Stepn Go, packing in various social elements on iOS and Android.

Community Shoutout

This week, we’ve received some amazing artwork by Pythians aslanw3b, Zarpythia, totti131, and D_MACDO. Keep up the good work, everyone!

We want to hear your feedback. Join the Pyth Discord and Telegram and follow Pyth on X. You can also learn more about Pyth here.