Pyth monthly update: Permissionless mainnet and token-driven governance mechanism are now live
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Pyth monthly update: Permissionless mainnet and token-driven governance mechanism are now live
The launch of these mechanisms opens the door for broader stakeholder participation in governance and community decision-making.
Navigating Web3 tides with focused insights
"Never fear the challenges of November—face them boldly!"
— Alexander L. Fraser
Pyth Monthly Report | November 2023
November was a landmark month for Pyth Network, as the permissionless mainnet and token-based governance mechanisms went live.
The launch of these mechanisms opens the door to broader stakeholder participation in governance and community decision-making. On-chain governance will cover key protocol matters, including reward structures for data providers and the structure and pricing of oracle fees.
We welcome both new and existing Pythians exploring the retroactive airdrop. This airdrop is one of the largest cross-chain airdrops in the industry. Over 90,000 wallet addresses from 27 blockchains and participants from hundreds of dApps are eligible to receive PYTH tokens.
The Pyth Network oracle network continues expanding to new blockchains. An increasing number of applications have integrated Pyth price feed oracles and Pyth Benchmarks, leveraging ultra-low latency price updates, high-fidelity data quality, and real-time confidence intervals. According to DefiLlama, over 25% of DeFi dApps are now #PoweredByPyth. Pyth data currently supports applications across ecosystems ranging from Starknet to Arbitrum, Cronos to zkSync Era, Optimism to Base. We never rest on our achievements—we still have more work ahead.
🤝 Partners
New Pyth-integrated dApps
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Paradex, the first crypto derivatives exchange built on a Starknet appchain.
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Parifi, a decentralized perpetuals protocol on Arbitrum.
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Y2K Finance, a suite of structured products designed for alternative pegged derivatives.
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DexToro, a decentralized derivatives trading platform built on Synthetix.
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Tectonic, a leading money market protocol on Cronos.
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Degen Bets, a decentralized perpetuals protocol on Arbitrum powered by WINR Protocol.
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Jupiter, which launched its new LP-to-trader perpetuals exchange.
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Derivio, an institutional-grade structured derivatives ecosystem on zkSync.
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zkUSD, enabling users to benefit from collateralized stablecoins while ensuring privacy and security.
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Mu Exchange, Gnosis's first perpetual DEX using $sDAI as collateral.
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Goku Money, a multi-collateral capital-efficient stablecoin protocol on Manta.
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DeCalls, a prediction market protocol allowing anyone to speculate on the future price of $SOL.
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RainFi, a lending and BNPL platform that launched its first P2P token loan product.
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Dyson Finance, a decentralized exchange democratizing liquidity provision and driving the paradigm shift toward "retail investors as LPs."
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Basemax, a decentralized perpetuals hub on Base.
DeFi Partner Updates
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Kamino Finance 2.0 launched a full, secure DeFi suite supporting borrowing, liquidity, and leveraged trading on Solana.
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Synthetix is preparing to launch its V3 protocol on Base.
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Avantis released its public testnet version on Base.
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Paradex, built on Starknet, reached $1 billion in trading volume.
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Pika just hit the $2 billion trading volume milestone.
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Lifinity reached $4 billion in trading volume on Solana.
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LayerBank integrated Pyth's $wstETH price feed.
⚙️ Development Updates
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Why perpetual protocols need Pyth financial oracles: Vela Exchange deep dive case study.
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Permissionless Mainnet & Token-Based Governance System Launch.
New Blockchains Integrated with Pyth
New Price Feeds
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PYTH/USD, XRD/USD, VIC/USD, NTRN/USD, EURC/USD, AKT/USD, MEME/USD, RLB/USD, CORE/USD, SLP/USD, ZEN/USD, TIA/USD, TBTC/USD, and EGLD/USD.
💃 Community Events
In-Person Events
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Ande Zheng spoke about Pyth at Solana Hacker House Hong Kong.
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Marc Tillement and Mike Cahill attended Nearcon in Lisbon.
Online Events
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Mike Cahill shared Pyth’s journey on Castle Island’s Y-Axis and On the Brink.
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Twitter Space: Parifi
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Twitter Space: Injective
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Twitter Space: Sei
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Twitter Space: MultiChain Morning Show
🫂 Community, Media & Others
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