Econia Labs Announces Inclusion in the Pyth Retrospective Airdrop
#PoweredByPyth
Econia Labs is excited to join more than 160 decentralized applications using Pyth Data, announcing the receipt of PYTH Tokens in the second phase of the Pyth airdrop program which began November 2023.
The selection of Econia Labs for the latest airdrop cohort highlights the team’s potential to create groundbreaking decentralized finance applications using the Econia protocol and Pyth’s secure oracle infrastructure. This infrastructure boasts more than 200 index price feeds across various markets, such as cryptocurrencies, securities, and commodities.
Leveraging Econia and Pyth for Secure On-Chain Marketplaces
Pyth’s price feeds can deliver sub-second latency streams, creating a perfect match with Econia — a fully on-chain order book that leverages the Aptos blockchain’s sub-second finality for trade matching and execution.
A prime example of what can be built using Econia and Pyth’s secure data infrastructure is a fully on-chain, permissionless marketplace for perpetual futures. This platform allows for efficient speculation on a wide variety of market indices and assets. To ensure fair and accurate operations, such as calculating interest funding rates, margin requirements, and position liquidations, this kind of application relies on secure index price feeds. These feeds maintain market integrity by using Pyth’s security approach, which includes compiling market price indexes from verified data supplied by some of the world’s largest financial institutions — some of which are investors in Econia Labs. Learn more about the synergies created by utilizing both Econia and Pyth protocols together here.
Fueling Innovation in Finance: Econia Labs Invests in Next-Gen Trading Tech
Econia Labs will use the proceeds to fund the development of the Econia protocol, a next-generation high-performance trading technology built on the principle of open price information, a value the Econia Labs team proudly shares with the Pyth project.
We encourage developers to reach out with potential development initiatives that harness the combined strengths of Pyth’s data infrastructure and Econia’s trading infrastructure. Discover potential use cases that benefit from both infrastructures here. To discuss your ideas or get more information, please contact the Econia Labs team by completing our contact form.
Resources
For more information, explore Pyth resources such as the Pyth Website, Pyth Docs, and Econia X Pyth Docs, as well as Econia Labs resources including the Econia Labs Website and Econia Docs.
