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Difference between revisions of "Pyth Network"
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[https://pythnetwork.mypinata.cloud/ipfs/QmZyXccxUfhHjqHevkhWXKw5zWcnFj3NY4JvnrXbkeAEhw Whitepaper release]: January 18, 2022 | [https://pythnetwork.mypinata.cloud/ipfs/QmZyXccxUfhHjqHevkhWXKw5zWcnFj3NY4JvnrXbkeAEhw Whitepaper release]: January 18, 2022 | ||
On April 7, 2021, Dave Olsen, the President and Chief Investment Officer of [[wikipedia:Jump_Trading|Jump Trading]], announced on [https://podcast.jumpcap.com/public/88/The-Jump-Off-Point-8c500774/b546fd6a The Jump Off Point podcast] that Jump Trading is “collaborating on a world oracle project called Pyth”.<ref>https://podcast.jumpcap.com/public/88/The-Jump-Off-Point-8c500774/b546fd6a</ref> Pyth then revealed its live devnet prices [https://pythnetwork.medium.com/bf6877f8ece3 in mid-May] and showcased its live streaming and sub-second price update capabilities. In June 2021, Pyth released its [https://pyth.network/developers/publishers/migrating_to_version_2 v2 upgrade] smart contract, improving its aggregation method and space for up to 32 data publishers for a single asset. Finally, on August 26, the Pyth Network officially launched on the [[Solana]] [https://pythnetwork.medium.com/the-pyth-network-mainnet-a3d45d2c0f58 mainnet]. | On April 7, 2021, Dave Olsen, the President and Chief Investment Officer of [[wikipedia:Jump_Trading|Jump Trading]], announced on [https://podcast.jumpcap.com/public/88/The-Jump-Off-Point-8c500774/b546fd6a The Jump Off Point podcast] that Jump Trading is “collaborating on a world oracle project called Pyth”.<ref>https://podcast.jumpcap.com/public/88/The-Jump-Off-Point-8c500774/b546fd6a</ref> Pyth then revealed its live devnet prices [https://pythnetwork.medium.com/bf6877f8ece3 in mid-May] and showcased its live streaming and sub-second price update capabilities. In June 2021, Pyth released its [https://pyth.network/developers/publishers/migrating_to_version_2 v2 upgrade] smart contract, improving its aggregation method and space for up to 32 data publishers for a single asset. Finally, on August 26, the Pyth Network officially launched on the [[Solana]] [https://pythnetwork.medium.com/the-pyth-network-mainnet-a3d45d2c0f58 mainnet]. | ||
Pyth finished 2021 with over $1B in Total Value Secured (TVS) | Pyth finished 2021 with over $1B in Total Value Secured (TVS), and facilitated over $7B in trading (including perpetual and synthetics platforms), with 38 announced mainnet integration partners and 41 data publishers.<ref>https://pythnetwork.medium.com/pythiad-6-2021-in-review-2022-in-sight-5e1f4c1743cc</ref> Since then, Pyth TVS reached about $2B spread over 50 integrations and welcomed more than 15 new data publishers.<ref>https://pythnetwork.medium.com/pythiad-6-2021-in-review-2022-in-sight-5e1f4c1743cc</ref> | ||
In January 2022, the [https://pythdataassociation.com/ Pyth Data Association] released the [https://pythnetwork.mypinata.cloud/ipfs/QmZyXccxUfhHjqHevkhWXKw5zWcnFj3NY4JvnrXbkeAEhw Pyth Network whitepaper]. It outlined the design and mechanics around the PYTH token and its role in making the Pyth Network self-sustaining and decentralized. The Pyth Data Association was created to support the Pyth Network. A board of directors oversees the Pyth Data Association. | In January 2022, the [https://pythdataassociation.com/ Pyth Data Association] released the [https://pythnetwork.mypinata.cloud/ipfs/QmZyXccxUfhHjqHevkhWXKw5zWcnFj3NY4JvnrXbkeAEhw Pyth Network whitepaper]. It outlined the design and mechanics around the PYTH token and its role in making the Pyth Network self-sustaining and decentralized. The Pyth Data Association was created to support the Pyth Network. A board of directors oversees the Pyth Data Association. | ||
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Pyth data is natively available on Solana. Accordingly, Pyth’s data is permissionlessly queryable (i.e. no paywall exists on the blockchain). The Pyth team will not know who is using the price feeds unless the person tells them (due to the permissionless nature of a blockchain). | Pyth data is natively available on Solana. Accordingly, Pyth’s data is permissionlessly queryable (i.e. no paywall exists on the blockchain). The Pyth team will not know who is using the price feeds unless the person tells them (due to the permissionless nature of a blockchain). | ||
As of April 2022, there are over 50 identified Pyth integrations on Solana and off-chain. | As of April 2022, there are over 50 identified Pyth integrations on Solana and off-chain. [[File:Pyth Metrics.jpg|thumb|Pyth Metrics as of April 2022]]Pyth users vary in types but usually offer the following services: borrow-lending, synthetics, derivatives trading, options vaults, and more. | ||
Pyth users vary in types but usually offer the following services: borrow-lending, synthetics, derivatives trading, options vaults, and more. | |||
Notable Pyth users: | Notable Pyth users: | ||
* [https://01.xyz/ 01 Exchange] (derivatives platform) | * [https://01.xyz/ 01 Exchange] (derivatives platform) | ||
* [https://apricot.one/#/ Apricot] (borrow-lending platform) | * [https://apricot.one/#/ Apricot] (borrow-lending platform) | ||