The Pyth Network, renowned for its contribution to the advancement of Web3 development through reliable, real-time price feeds, has announced a significant addition to its data provider community. The newcomer, Ambient, previously known as CrocSwap, is set to revolutionize the ecosystem with its decentralized exchange (DEX) protocol capabilities.
Ambient is not just any DEX protocol; it uniquely facilitates two-sided Automated Market Makers (AMMs) that combine concentrated and ambient constant-product liquidity for any arbitrary pair of blockchain assets. This innovation is expected to substantially elevate the quality and security of data of the Pyth Price Feeds, particularly benefiting Web3 developers across the globe.
The integration of Ambient into the Pyth Network is poised to bridge the gap between traditional financial data and on-chain assets by bringing the foremost Blast and Scroll DEX real-time price data to the table. This collaboration underscores a mutual commitment to enhancing security, efficiency, and transparency for financial data on blockchain platforms.
Doug Colkitt, the Founder of Ambient Finance, expressed enthusiasm about the partnership: “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.”
A Closer Look at Ambient
Formerly known as CrocSwap, Ambient has rapidly established itself as a cutting-edge decentralized exchange (DEX) protocol. What sets Ambient apart is its innovative approach to AMMs, allowing for two-sided transactions that combine both concentrated and ambient constant-product liquidity for any pair of blockchain assets. This method fosters enhanced efficiency and liquidity.
Ambient operates its entire DEX within a single smart contract, a design choice that distinguishes it as one of the most efficient Ethereum-based DEXs on the market. Since its launch in the summer of 2023, Ambient has not only been implemented on platforms such as Blast, Scroll, Ethereum, and Canto but has also amassed over $50 million in Total Value Locked (TVL) and enabled over $650 million in trading volumes.
The collaboration between Ambient and the Pyth Network is a testament to the evolving landscape of blockchain technology and its increasing intersection with traditional financial systems. Owners and creators of unique price data, like Ambient, are indispensable to the Pyth Network’s mission. They enable continuous access to accurate, real-time price data, which is critical for smart contract developers operating on various blockchain platforms.
This partnership marks a significant milestone in the ongoing development of the Web3 ecosystem, promising to provide developers with the tools they need to build more secure, efficient, and transparent applications. The Pyth Network and Ambient are set on a course to foster innovation and growth within the blockchain community, benefiting users and developers alike.
