Friktion Partners With Pyth For Entropy Markets

Friktion´s Entropy uses Pyth to index the prices of its perpetuals and power perpetuals.

Solana Majors Build Together

The DeFi hedge fund Friktion partners with the Solana oracle network Pyth to power Entropy, a decentralized exchange focused on giving traders tools to trade volatility. 

Pyth congratulated Friktion for the release of the DEX on April 11 via Twitter, aspiring to see the oracle being further integrated into the Friktion ecosystem. Entropy uses Pyth´s high-fidelity market data from the world’s largest traders and exchanges to derive mark prices directly on-chain. 

“As of today, Friktion, through Entropy Markets, expanded its offering with 3 new products: Perpetuals, Power Perpetuals, and Volatility Perpetuals. The regular & Power Perpetuals will leverage Pyth’s feeds to determine the index price and the according funding rate,” tweeted Pyth. “We look forward to further growth with Friktion and other options protocols by introducing new types of financial data on the Pyth network.”

Source

DeFi is serving institutions and individuals across the globe on a path to reach trillions of dollars in volume. DeFi must keep improving on everything the old infrastructure did to get to this scale and replace traditional finance. Some of the biggest names in TradFi and DeFi built Pyth Network to liberate once-exclusive data and bring it on-chain for the world to build on. 

With composability lying at the core, many protocols like Friktion have leveraged this Hi-Fi data to build their successful platforms: Friktion Volts gained +$130M in TVL and +$1.3B in options volume in less than four months.  

What is Friktion?

Friktion is a DeFi portfolio management protocol that runs on Solana and is designed to perform across market cycles. It is an asset management tool that automatically allows users to maximize returns while mitigating risks by employing automated ‘Volts’ strategies. 

Where to find Friktion:

Website | TwitterdApp | Discord

What is Pyth Network?

Pyth Network is a specialized Oracle solution for latency-sensitive financial data. The network is developing a new and low-cost method to bring this unique data on-chain and securely aggregate it. The Pyth Data Association was founded to support the Pyth network and is governed by a board of directors elected by Pyth network members.

Where to find Pyth Network:

Website | Twitter | Discord | Telegram

Source : web3wire.news

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