The Pyth Network Collaborates with Ambient to Enhance Web3 Price Feeds
Pyth Network Partners with Ambient for Improved Data Feeds
The Pyth Network recently welcomed Ambient, a decentralized exchange protocol previously known as CrocSwap, as a new data provider. This partnership aims to enhance real-time price feeds crucial for Web3 developers by integrating Ambient’s automated market making approach on blockchain assets.
Ambient Contributes Real-Time Price Data to Pyth Network
Ambient, known for its unique constant-product liquidity pools, will now provide real-time price data to the Pyth Network. This collaboration is expected to elevate data quality and security, benefiting the global Web3 development community.
Ambient’s Rapid Growth in DeFi
Since its launch in mid-2023, Ambient has quickly gained traction in the decentralized finance (DeFi) landscape. With over $50 million in total value locked (TVL) and $650 million in transaction volumes, Ambient operates on various platforms like Blast, Scroll, and Canto.
Excitement Over Enhanced Market Data
“We are thrilled to provide our market data to support the Pyth Network ecosystem,” said Doug Colkitt, Founder of Ambient Finance. “Our pricing data from deep, liquid pools is set to enhance the network’s security, efficiency, and transparency in financial data on-chain.”
Pyth Network’s Growth and Partnerships
Following the integration with the Virtual Machine (VM) earlier this year, the Pyth Network now collaborates with over 80 market participants. Notable names like Jane Street, CBOE, Binance, and OKX are among its partners, further solidifying its position in the market.
Pyth Network’s Expansion and Data Offerings
With over $2.0 billion in secured value in less than a year, the Pyth Network now provides over 400 real-time price feeds across various categories. Supporting more than 50 blockchains and facilitating a trade volume exceeding $100 billion, Pyth continues to be a vital player in the Web3 ecosystem.
Enhancing Financial Data Accessibility
By offering high-fidelity financial market data, Pyth addresses the crucial need for accurate and timely data across blockchain platforms. Its data feeds play a vital role in the operations of crypto desks and trading exchanges, providing accurate real-time information for informed decisions.
