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Pyth Network has announced significant developments in its oracle services, emphasizing its role in enhancing decentralized finance (DeFi) platforms. The network currently offers over 550 price feeds across 70 blockchains, facilitating over $86 billion in trading volume in June 2024. Notably, Jupiter Exchange reported nearly $80 billion in cumulative derivatives volume in just six months, powered by Pyth. Additionally, platforms like JuicyPerp and Colend are leveraging Pyth's oracles for improved pricing accuracy and security. Colend, which has achieved $200 million in total value locked (TVL), highlighted Pyth's contribution to its secure lending framework. Other integrations include Vela Exchange, which adopted Pyth's Express Relay to enhance trader experience through better security and cost reduction.
”By using Pyth Oracle with a pull approach, Colend benefits from enhanced security, reliable data aggregation, and robust mechanisms to prevent price manipulation, ensuring a more secure and trustworthy lending platform.” @colend_xyz is a peer to peer borrow-lending protocol on… https://t.co/wqgeuxe6US
Since our inception, @PythNetwork has been a cornerstone of Colend, providing fast and secure price feeds on @Coredao_Org . Today, as we secure $200M in TVL, we are proud to expand with new assets, markets, and innovative features. With Pyth’s technology, we are set to amplify… https://t.co/DQD841LI1c
We're always looking for ways to enhance our traders' experience. That's why we've integrated @PythNetwork's Express Relay. 🛡️ Improved DeFi security 💰 Reduced costs for traders 📊 Better risk management Excited to be part of this innovation in DeFi🫡 https://t.co/up4HDLoYN6