Pyth Network accomplished various final results in Q3 2023, continuing to be the Oracle resolution of selection for numerous tasks.
According to information from DefiLlama, Pyth Network has turn out to be the 2nd biggest Oracle task in the planet, accounting for 48% of the complete trading volume of DEXs applying Oracle globally.
Last quarter, Pyth Network launched model two. of the Whitepaper, promising to carry numerous major improvements in the potential.
Pyth Network Q3 2023 Results
The 3 autumn months of 2023 noticed Pyth Network record numerous notable milestones, which include:
– Update Perseus: lessen gasoline charges for end users by 50-80%, increase transaction velocity and method dependability.
– Supported 27 new tasks in August and September.
– Welcome Douro Labs, the new workforce assisting establish the Pyth Network ecosystem
– zk-Rollups help: Through the partnership with Gelato, in excess of 350 Pyth value information pipelines are now offered for integration into zk-Rollups options.
– Baseline and Level two help acquired a whole lot of consideration in the third quarter.
Parameters on Pyth Network
Many operational and network indicators of Pyth Network have maintained stability in excess of the previous three months, even with slight development.
As a outcome, the common day by day update charge (DAU), which represents every single time a sensible contract calls information from Pyth, reached one.two million in July, then improved to one.9 million in August and then decreased somewhat to September. 12 months, this is nevertheless a large leap.
If you count the complete amount of information calls, Pyth Network surpassed a hundred million in August.
This achievement was produced attainable by the contribution of Pyth feeds, which sent up to 300 million value updates per day, of which one.five million have been sent cross-chain.
Furthermore, the complete trading volume of Pyth-backed tasks improved from $63.two billion in July to $77.three billion in September, preserving a regular upward trend.
The vast majority of on-chain transaction volume comes from tasks working on Optimism and Arbitrum, the major layer-two tasks these days, as very well as other well-liked layer-one tasks this kind of as Ethereum, BNB Chain, and Solana.
The TVL worth supported by Pyth applying Oracle information showed a considerable transform in 2023, as Pyth supports other blockchains aside from Solana. Since June 2023, having said that, TVL has stabilized all over $one.three billion.
Pyth’s TVL market place share on blockchains also skyrocketed as the task accounted for 90% of TVL on up to eight blockchains (which include Sui) and in excess of 50% on eleven blockchains (which include BNB Chain and Optimism) .
As of September 2023, Pyth supported 35 blockchains, with new names in Q3 which include EOS EVM, EON, Stacks, Scroll, Sei, Evmos, Linea, and Neutron.
As for the amount of value information transmission lines, the task nevertheless maintains a secure development charge, reaching 370 in September.
The Pyth ecosystem presently has far more than 220 on-chain and off-chain tasks, across all blockchains and ecosystems.
To see the complete checklist of new supported tasks, as very well as see Pyth’s whole Q3 report, study: Visit here.
About Pyth Network
Pyth Network is an Oracle task that has attracted far more than 50 main partners globally, offering important information sources, integrating numerous protocols, AMMs, derivatives, and a wide range of other dApps with transparently delivered information. Reliable with latency much less than one 2nd.
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