Ambient, a decentralized exchange protocol (DEX), has joined the ranks of data providers on the Pyth Network, according to information shared with Finbold on March 25.
The collaboration marks a pivotal moment, allowing Blast and Scroll DEX to provide real-time pricing data for on-chain assets.
With Ambient in its arsenal, the Pyth Price Feeds is now more ready than ever to strengthen data integrity and security, improving the experience of Web3 developers worldwide.
Doug Colkitt, founder of Ambient Finance, is excited about the partnership and says:
“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 the security, efficiency and transparency of 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 combines concentrated and ambient product liquidity in two-sided Automated Market Makers (AMMs) across a spectrum of blockchain assets.
The platform operates within a single smart contract, with 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?
After debuting in summer 2023, Ambient is already accessible on platforms including Blast, Scroll, Ethereum, and Canto, with more than $50 million in total value locked (TVL) and facilitating transactions worth $650 million.
With their unique price data, platforms like Ambient form the basis of Pyth Price Feeds.
In other words, the involvement of data providers within the Pyth Network is critical to ensuring seamless access to reliable real-time pricing data for smart contract developers across blockchain ecosystems.