Pyth Network, a trailblazer in decentralized data solutions, is excited to announce its latest collaboration with Ambient, a cutting-edge decentralized exchange protocol previously known under the name CrocSwap. This strategic partnership aims to significantly enhance the accuracy and reliability of real-time price feeds, a critical resource for Web3 developers.
Ambient, renowned for its innovative approach combining concentrated liquidity and ambient constant-product liquidity pools, is set to bolster the Pyth Network by sharing its real-time pricing data. This integration promises to enrich the network’s offerings, advancing data quality and security to the benefit of the burgeoning Web3 developer community globally.
Ambient has rapidly ascended as a noteworthy player in the decentralized finance (DeFi) arena since its introduction in mid-2023. With its operations spanning several platforms including Blast, Scroll, Ethereum, and Canto, Ambient boasts over $50 million in total value locked (TVL) and an impressive $650 million in transaction volumes.
Doug Colkitt, the visionary behind Ambient Finance, expressed enthusiasm about the collaboration: “We are thrilled to harness our market insights to fortify the Pyth Network ecosystem. Sharing data from our robust liquidity pools is poised to enhance the network’s overall security, efficiency, and transparency, elevating the standard for financial data on the blockchain.”
This partnership follows Pyth Network’s recent integration with the Filecoin Virtual Machine (VM), further expanding its capability to serve both Web2 and Web3 sectors with vital financial information. Pyth is proud to work alongside over 80 market giants, including industry stalwarts like Jane Street, CBOE, Binance, OKX, and Bybit.
Securing over $2.0 billion in value within its inaugural year, Pyth Network now delivers more than 400 real-time price feeds across diverse sectors such as commodities, stocks, foreign exchange, cryptocurrencies, and ETFs. The network’s extensive infrastructure accommodates over 50 blockchains, supporting trade volumes that surpass $100 billion.
Pyth Network is dedicated to furnishing high-fidelity, high-frequency financial market data, bridging the divide between digital and physical financial activities. By facilitating smart contract interactions across any blockchain platform, Pyth plays a pivotal role in the ecosystem, empowering crypto desks and trading exchanges with precise, real-time data critical for informed decision-making.
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