©Reuters
Pyth Network announced that it has added Ambient, the decentralized exchange protocol formerly known as CrocSwap, to its community of data providers. The partnership is said to power a critical real-time price feed for Web3 developers by integrating Ambient's approach to automated market making on blockchain assets.
Known for its combination of centralized and ambient product liquidity pools, Ambient provides real-time price data to the Pyth Network. This move is expected to improve the network's data quality and security, benefiting his Web3 development community around the world.
Since its launch in mid-2023, Ambient has quickly made a name for itself in the decentralized finance (DeFi) scene, operating on platforms such as Blast, Scroll, Canto, and more than $50 million in total value locked (TVL), 6 It has assets of over $50 million. Trading volume.
“We are excited to leverage our market data to support the Pyth Network ecosystem,” said Doug Colkitt, founder of Ambient Finance. “Providing price data from our deep liquidity pool is expected to increase network security, efficiency, and transparency of on-chain financial data.”
This partnership follows the integration of Pyth Network and virtual machines (VMs) in January. This integration allows both Web2 and Web3 entities to access critical financial data. Pyth is already working with over 80 of his market participants, including notable companies such as Jane Street, CBOE, Binance, OKX, and Bybit.
Pais Network, which has secured a valuation of more than $2 billion in less than a year, offers more than 400 real-time price feeds across a wide range of categories including commodities, stocks, forex, cryptocurrencies, and now ETFs. The network's infrastructure supports over 50 blockchains and facilitates over $100 billion in transaction volume.
By providing high-fidelity, high-frequency financial market data, Pyth addresses the critical need for accurate and timely data across applications, enabling on-chain Bridging the gap between events and off-chain events. A network’s data feed is essential to the operations of crypto desks and exchanges that rely on its platform to obtain accurate, real-time data.