Hassan Maishera
On Monday, the Pyth Network announced via X that dYdX, a DeFi pro trading platform and a pioneer in decentralized finance, is now a Pyth Indices user.
dYdX has integrated the Pyth 24/7 Oil Index to power its continuous oil market, giving traders an independent reference price around the clock.
Pyth Network is an innovative decentralized oracle that sources financial market data from over 90 first-party publishers, including major exchanges and market-making firms worldwide.
The Pyth Network is the largest and fastest-growing first-party oracle network. Pyth delivers real-time market data to financial dApps across 40+ blockchains and provides 380+ low-latency price feeds across cryptocurrencies, equities, ETFs, FX pairs, and commodities.
The network comprises some of the world's largest exchanges, market makers, and financial services providers who contribute their own price data for use by smart contracts. Participants in the network include Binance, OKX, Jane Street, Bybit, Cboe Global Markets, and more.
The Pyth oracle program aggregates its data on-chain to guard against inaccuracies and manipulation. Finally, the protocol allows users to "pull" the latest price onto their blockchain when needed.
In less than a year since the launch of the cross-chain pull oracle, the network has secured over $1B in total value. The Pyth Network has been used by over 250 applications to secure $100B in trading volume. Integration with Pyth Price Feeds is permissionless. PYTH is down 2.5% in the last 24 hours, trading at $0.03554 per coin.
