Lynx Awarded as $PYTH Recipient
Lynx is excited to announce its recent recognition by the Pyth Data Association as a recipient of a $PYTH token allocation. This award marks a significant milestone for Lynx, as it recognizes both our past and future contributions to the Pyth Network ecosystem and our commitment to providing innovative solutions to the DeFi space. With Lynx’s $PYTH token allocation, we are excited to deepen our collaboration with Pyth and enhance the functionality of our perpetuals exchange.
Lynx Perpetuals: Powered by Pyth
Lynx stands as an advanced decentralized perpetuals exchange, empowering traders with high-leverage opportunities across crypto, forex, and commodities markets. Lynx allows traders to utilize any ERC-20 token as collateral for trading activities. Using their favorite tokens — from governance tokens and LSTs to yield-bearing assets and stablecoins — traders on Lynx can gain exposure to a range of other assets without selling any of their holdings.
Lynx’s collaboration with Pyth and integration of Pythnet Price Feeds backs our commitment to providing reliable and up-to-date pricing information for all tradeable instruments. Unlike traditional passive price feeds, Pyth’s solution operates on a request-based system, ensuring that fresh prices are readily available and brought on-chain only when necessary.
$PYTH Collateral Coming to Lynx
Lynx intends to use its allocation to facilitate the listing of $PYTH as a collateral asset on our perpetuals exchange, enabling all $PYTH holders to trade perpetuals on Lynx. No longer will holders have to choose between capitalizing on an opportunistic price movement in BTC/USD or supporting their favorite oracle provider; using Lynx, they can do both at the same time!
While the $PYTH token will be supported as collateral on Lynx, it won’t be listed as a tradeable instrument (ie. no traders can short it). Additionally, collateral assets on Lynx are never sold, even when traders using them as collateral are liquidated. This design reflects our commitment to Pyth and all other projects seeking to list their native tokens on the exchange.
Crypto, Forex, and Commodity Markets
Using one of the many collateral options available on Lynx, users can engage in gasless perps trading on alternative assets such as crypto pairs, forex, or commodity markets. Lynx leverages Pythnet Price Feeds to provide the best, real-time price data for these instruments. As Lynx expands perpetuals trading to more and more chains — even those considered less viable for perps (did someone say gasless perps trading on Ethereum 👀) — the hundreds of price feeds offered by Pyth empower this unrestricted growth across various assets and blockchains.
Moreover, by integrating Pyth’s Price Feeds, Lynx sources the most accurate and timely pricing information available. With prices on Pythnet updating once per second, Lynx provides its traders with the precision necessary to trade perpetuals, where even sub-minute price movements can have a significant impact on traders’ positions.
Future of Lynx
While we celebrate our deepening partnership with Pyth, we invite all token projects interested in listing their tokens as collateral assets on Lynx to reach out to us via our Discord community. Listing on Lynx is quick, free, and requires no work. Together, let’s continue pushing the boundaries of DeFi and creating new opportunities for traders worldwide.
Lynx Links
Website: https://www.lynx.finance/
Discord: https://discord.gg/DTcw3rT28J
Twitter: https://twitter.com/Lynx_Protocol
Pyth Network Links
Website: https://pyth.network
Twitter: https://x.com/PythNetwork
Discord: https://discord.com/invite/PythNetwork
