Ambient, a decentralized exchange protocol (DEX), has joined the ranks of data providers on the Pyth Network, according to the information shared with Finbold on March 25.
The partnership marks a pivotal moment, enabling Blast and Scroll DEX for on-chain assets to furnish real-time price data.
With Ambient in its arsenal, the Pyth Price Feeds is now more ready than ever to fortify data integrity and security, enhancing the experience of Web3 developers worldwide.
Doug Colkitt, the Founder of Ambient Finance, expresses enthusiasm about the collaboration stating:
“We are excited to leverage our market data to support the Pyth Network ecosystem. By providing pricing data from our deep, liquid pools, we look forward to increasing security, efficiency, and transparency in financial data on-chain. As Ambient grows we look forward to providing market data for more assets, and playing a role in the growth of the Pyth Network.”
– Doug Colkitt, the Founder of Ambient Finance
What is Ambient?
Formerly known as CrocSwap, Ambient fuses concentrated and ambient constant-product liquidity in two-sided Automated Market Makers (AMMs) across a spectrum of blockchain assets.
The platform operates within a singular smart contract, featuring lightweight AMM pools as opposed to separate smart contracts.
Such a design choice has positioned Ambient as the most efficient Ethereum (ETH) based DEX to date.
What’s in it for Pyth?
Having made its debut in the summer of 2023, Ambient is already accessible on platforms like Blast, Scroll, Ethereum, and Canto, having amassed over $50 million in total value locked (TVL) and facilitating transactions worth $650 million.
With their unique price data, platforms like Ambient are the foundation of Pyth Price Feeds.
In other words, the involvement of data providers within the Pyth Network is key to ensuring seamless access to dependable real-time price data for smart contract developers across diverse blockchain ecosystems.