Pyth Network Releases Yearly Update Heading Into 2022

The network has issued details on the developments that happened within the network’s ecosystem over the previous year.

A Year for Pyth Summarized

The Pyth Network has released an update on the network’s progress in 2021. 

In this yearly update released via a Medium blog on Jan. 1, the protocol summarizes their journey from their launch in April 2021. It highlights all the major developments that have taken place, including how it onboarded over 40 top-tier publishers like Alameda Research, FTX, Amber Group, Bitso, CMS Holdings, CoinShares, Galaxy Digital, Gate.io, Jump Trading, Serum, and 0x, amongst others.

The Pyth Network was a part of the events listed below in 2020:

Headlined the Pyth Network Hacker House that was held between Jan. 17 and 21 along with Jump Capital and Wormhole.

Sponsored the Covengence Hackathon held by Project Serum and Wormhole.

Sponsored the NFT floor bounty at the Miami Hacker House.

Partnership with Lifninity for a giveaway contest.

Collaborated with PsyOptions for a merchandise drop.

Entered a collaboration with Abstract Labs for an NFT giveaway.

Source: Pyth Medium

Most recently, the Pyth Network announced its integration with the Neon EVM on Dec. 29. The network will provide price feeds available to all the decentralized applications (dApps) building on Neon. 

The integration entails that Ethereum dApps choosing to deploy on Solana through the Neon EVM can now easily access high-level price feeds from Pyth to enhance their protocol’s operations.

What is Pyth Network?

The genesis of the Pyth Network happened in a bid to solve the oracle problem in DeFi. Essentially DeFi protocols rely on high-fidelity, time-sensitive, real-world data and price feeds, but they have no ways of accessing it as they are based on blockchains that aren’t connected to real-world data. The network attempts to deliver a decentralized, cross-chain market of verifiable data from high-quality nodes.

Source: Solana News

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