Pyth Network Welcomes Ambient as a New Data Provider
In Brief
Pyth Network partnered with Ambient Finance to enhance the data quality and security of the Pyth Price Feeds.
Oracle service Pyth Network partnered with the decentralized exchange (DEX) protocol Ambient Finance to expand its data provider community, facilitating the publication of real-time price data. Ambient’s involvement is expected to enhance the data quality and security of the Pyth Price Feeds, providing advantages to Web3 developers.
Ambient Finance, formerly CrocSwap, is designed to facilitate two-sided Automated Market Makers (AMMs), combining concentrated and ambient constant-product liquidity on arbitrary pairs of blockchain assets. The project operates its DEX within a single smart contract, where individual AMM pools are lightweight data structures instead of separate smart contracts. This design choice and other features enable Ambient Finance to function as the most efficient DEX built on the Ethereum blockchain.
The protocol is currently accessible on Blast, Scroll, Ethereum, and Canto. Since its launch, the platform has accumulated over $50 million in total value locked (TVL) and facilitated trading volumes exceeding $650 million.
“We are excited to leverage our market data to support the Pyth Network ecosystem. By providing pricing data from our deep, liquid pools, we look forward to increasing security, efficiency, and transparency in financial data on-chain. As Ambient grows, we look forward to providing market data for more assets and playing a role in the growth of the Pyth Network,” said Doug Colkitt, Founder of Ambient Finance.
The Pyth Price Feeds rely on the contributions of owners and creators of price data. Collaborating with data providers is vital in ensuring that smart contract developers across various blockchains have uninterrupted access to dependable, up-to-date price data through the Pyth Network.
What is Pyth Network?
The Pyth Network functions as a financial data oracle network, offering asset price data to different blockchains. Through collaboration with exchanges, market makers, and trading firms, Pyth Network gathers price data on-chain, thereby enabling smart contracts to access it.
Pyth Network‘s price feeds provide real-time financial market data to smart contract applications on over 50 blockchains. These data are sourced from over 95 first-party data providers, including major cryptocurrency exchanges and market-making firms. Each price feed generates a robust aggregate of these prices multiple times per second. The protocol offers a comprehensive selection of over 450 price feeds spanning various asset classes, such as US equities, commodities, and cryptocurrencies.
Recently, Pyth Network introduced Pyth Price Feeds on the Injective inEVM decentralized finance (DeFi) ecosystem, enabling smart contract developers to access over 450 data feeds covering digital and traditional asset classes.
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
