Pyth Network Introduces GMCI 30 Index Price Feed
The Pyth Community maintains its objective of offering world sensible contract builders with entry to monetary information. In line with this attitude, the Oracle Community has launched the GMCI 30 Index Value Feed, which supplies greater than 60 blockchain ecosystems entry to the GMCI crypto market value index, often known as the “GM 30.”
Permissionless integration is offered with the GMCI 30 feed and all Pyth 540+ value feeds. DeFi functions might function primarily based on the GM 30’s real-time value. This weblog delves into the GM 30’s design, whereas Pyth broadens the index’s attain to incorporate a number of blockchains.
The GMCI 30 Index: What’s it?
Index supplier GMCI makes a speciality of creating one-of-a-kind indices for the digital property sector. To facilitate the onboarding of traders, monetary establishments, and market analysts into the Web3 capital markets, cryptocurrency market indices that observe clear procedures are important. Moreover, indices present standardization to those rising markets, which opens the door for extra advanced digital asset options.
The GMCI 30 Index, typically often known as GM 30, was launched by GMCI this 12 months. It’s an index that displays the efficiency of the 30 greatest digital property primarily based on market capitalization. With the inclusion of each long-term market leaders and vital catalysts like Bitcoin and Ethereum, this index supplies a worldwide view of the cryptocurrency markets. Market gamers might extra readily monitor the efficiency of the highest cryptocurrencies and assess the steadiness, sentiment, and development patterns of the sector by utilizing an index reminiscent of GM 30.
Maarten Botman, CEO of GMCI acknowledged:
“We’re excited to announce that Pyth Community might be streaming GMCI index costs. This collaboration represents a big step ahead in our mission to turn out to be the benchmark of alternative within the crypto house. By leveraging Pyth’s cutting-edge know-how, we’re ensured of offering much more correct and dependable information to our customers. This partnership underscores our dedication to innovation and excellence available in the market.”
GMCI 30 on Pyth Value Feeds
Builders might now obtain a real-time value feed for the GMCI 30 with ease and permissionless due to Pyth Value Feeds, that are made doable by the first-party information supplier community of the Pyth Community. GMCI 30 is the Pyth Community’s first digital property index feed, however Value Feeds additionally gives vital indices for typical markets, such because the DJIA (Dow Jones Industrial Common), SPY (SPDR S&P 500 ETF Belief), and QQQ (Invesco QQQ ETF).
Ben Yorke, Ecosystem VP at WOO acknowledged:
”As a long-standing information supplier on the Pyth Community, WOO X is happy to see the combination of the GMCI 30 index. GMCI is a associate of the WOO Innovation Hub and we’ll proceed to work along with Pyth on new indices that present worth to each merchants and shoppers of Pyth Value feeds.”
Who’s Utilizing Pyth’s GMCI 30 Feed?
The EVM, Transfer, Cosmos, and Bitcoin ecosystems present sensible contract builders with entry to a reliable, high-frequency value supply for the GMCI 30 on over 60 blockchains. DeFi protocols, which energy a number of chains and supply customers with distinctive publicity, have already begun merging with the Pyth GMCI 30 feed.
Bluefin— a Sui-based decentralized orderbook trade. Bluefin has already facilitated $25 billion in buying and selling exercise since its 2023 debut.
D8X Trade— a perpetual futures DEX on Arbitrum, Polygon zkEVM, and X Layer of institutional-grade.
Pingu Trade— a perpetual, decentralized, community-driven protocol on Arbitrum. Pingu has facilitated over $2 billion in volumes since its inception in February.
Vela Trade— a decentralized trade together with scalable infrastructure, community-focused incentives, and complex perpetuals buying and selling options. Vela has enabled $10 billion in quantity and is now out there on Base and Arbitrum.
Protocol Horizon— a decentralized derivatives buying and selling and liquidity protocol with the objective of utilizing artificial property to open up entry to the true financial system.
Get Began
The Pyth Community is meant to supply high-frequency, high-fidelity monetary information to sensible contracts in actual time.
Begin by wanting over the developer assets. You might get in contact on the Pyth Discord when you have any questions.
