Cryptocurrency News

Pyth Network taps Ambient as data provider to boost Web3 price feeds

The Pyth Network announced the addition of Ambient, a decentralized exchange protocol formerly known as CrocSwap, to its community of data providers. The collaboration is said to enhance the real-time price feeds crucial for Web3 developers by integrating Ambient’s approach to automated market making on blockchain assets.

Ambient, recognized for its combination of concentrated and ambient constant-product liquidity pools, will now contribute its real-time price data to the Pyth Network. This move is expected to improve the network’s data quality and security, benefiting the global Web3 development community.

Since its launch in mid-2023, Ambient has quickly made a mark on the decentralized finance (DeFi) scene, operating on platforms like Blast, Scroll, Ethereum, and Canto, with over $50 million in total value locked (TVL) and $650 million in transaction volumes.

“We are excited to leverage our market data to support the Pyth Network ecosystem,” said Doug Colkitt, Founder of Ambient Finance. “Our contribution of pricing data from our deep, liquid pools is anticipated to heighten the network’s security, efficiency, and transparency in financial data on-chain.”

The partnership follows the Pyth Network’s integration with the Filecoin Virtual Machine (VM) in January. The integration enables both Web2 and Web3 entities to access essential financial data. Pyth is already collaborating with over 80 market participants, including prominent names like Jane Street, CBOE, Binance, OKX, and Bybit.

With over $2.0 billion in value secured in less than a year, the Pyth Network now offers over 400 real-time price feeds across a diverse range of categories, including commodities, stocks, FX, cryptocurrencies, and now ETFs. The infrastructure of the network supports more than 50 blockchains and facilitates a trade volume exceeding $100 billion.

By providing high-fidelity, high-frequency financial market data, Pyth addresses the critical need for accurate and timely data among applications, bridging the gap between on- and off-chain events with smart contracts across any blockchain platform. The network’s data feeds are integral to the operations of crypto desks and trading exchanges, which rely on its platform to obtain accurate, real-time data.



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