Figment Partnership with Pyth

Pyth network proudly welcomes Figment as a contributor and partner to bring forth the advancement of web3 development and DeFi by both facilitating the usability and enhancing the functionality of Pyth HiFi market data.

The Figment x Pyth Network Partnership

As contributors and partners, Figment will be working closely with the Pyth network participants to bring more functionality and usability to the Pyth HiFi market data.

One of the problems with Web 3 adoption is the initial barrier to entry. One of their goals with this partnership is to create a seamless onboarding experience for data providers and data consumers. Figment will be integrating Pyth network with DataHub, allowing for easy access to Pyth network data necessary to power DeFi protocols and applications.

Figment will also be creating a Pyth network knowledge base on Figment Learn, which will guide developers through their first Pyth network data integration. This will include future incentives for developers who create additional tutorials that expand on the Pyth network’s use cases.

Michael Cahill — Director of Pyth Data Association

“In the few months since launching, the Pyth Network has seen incredible growth with 38 announced data providers and hundreds of integrations. Figment is proving themselves as a market leader in bringing resources to web3, and their commitment to scaling Pyth data feeds marks an important milestone in achieving scalability.” 

 Yannick Folla — Product Lead at Figment

DataHub aims to greatly improve the access to leading Web 3 protocols and we believe oracles will play an essential role in the Web 3 stack. With this partnership, we will help Pyth become a dominant solution within its category by helping developers and publishers leverage its full potential.”

What Makes the Pyth network Unique?

Data is abundant in Web 3, but institutional-grade market data is not. The Pyth network is a high fidelity (HiFi) decentralized data oracle network designed to bring the highest level of financial data to DeFi.

The Pyth network participants already include some of the biggest players in the financial industry including Jane StreetJump Trading GroupHudson River Trading, and Galaxy Digital as data publishers. These data publishers bring institutional-grade market data at sub-second speeds to the blockchain. Some DeFi applications, including Bonfida PerpsMango MarketsDriftPort Finance, or Solend have started to consume this data.

Supported Assets:

  • Cryptocurrencies
  • Equities
  • Commodities
  • Foreign Currencies

The Pyth network is built on Solana, but already supports other Layer 1 chains like Ethereum, Terra, and Binance Smart Chain via Wormhole. We look forward to the growth of the network through:

  • More Data providers
  • More supported blockchains
  • Introduction of staking, rewards, and curation functionality

About Pyth Network

Smarter data for smarter contracts. Pyth is designed to bring real-world data on-chain on a sub-second timescale.

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Market Stats:
BTC Dominance: 41.59%(-0.16%/24h)
ETH Dominance: 19.63%(0.00%/24h)
Defi Market Cap: $141.07B(-27.36%/24h)
Total Market Cap: $2488.93B(+1.51%/24h)
Total Trading Volume 24h: $111.67B(-32.28%/24h)
ETH Market Cap: $490.56B
Defi to ETH Ratio: 28.76%
Defi Dominance: 5.36%
Altcoin Market Cap: $1453.81B
Altcoin Volume 24h: $81.13B
Total Cryptocurrencies: 14873
Active Cryptocurrencies: 7777
Active Market Pairs: 50156
Active Exchanges: 436
Total Exchanges: 1545
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