Ormi Labs’ 0xgraph: Powering Pendle’s Data Infrastructure

Introduction
In the rapidly evolving world of DeFi, reliable and high-performing data infrastructure is crucial for the success of protocols like Pendle Finance. Ormi Labs’ 0xgraph, a next-gen subgraph hosting solution, has been serving Pendle’s data demands for over three months, ensuring a seamless UX and enabling the protocol to scale its vision of driving mass adoption to Web3 through real-world assets (RWAs) and the liberation yield accorss multiple EVM ecosystems.

The Importance of Real-Time Data in DeFi
Pendle Finance is a protocol that enables the trading of tokenized future yield on an automated market maker (AMM) system. For end-users to make informed trading decisions, they rely on real-time and reliable data feeds for total value locked (TVL), yield, and price. High-performing, real-time subgraph hosting is essential for delivering this critical information and ensuring an optimal user experience. The lower the latency, the better.

Powering Pendle’s Growth
Let’s take a look at the data. Since onboarding Pendle to 0xgraph, the protocol has experienced significant growth across key metrics:

• TVL has increased from $2.15 billion to $6 billion
• Token volume has grown from $40 million to $263 million
• Staking revenue has risen from $170 million to $340 million

Despite these large influxes of volume and data loads, Ormi’s systems and infrastructure have remained unaffected, demonstrating their readiness to handle even greater demands in the future.

Delivering Reliable, Low-Latency Data Feeds
Latency and uptime are two key metrics for subgraph hosting and on-chain data indexing. 0xgraph maintains 99.9% uptime for over a dozen Subgraphs across multiple chains. Latency, which varies depending on the size of the subgraph, averages lower than ~30ms, with an upper bound of 100ms for larger subgraphs and a lower bound of ~10ms for smaller ones.

Usage analytics for Pendle’s subgraphs on various networks (e.g., Optimism, Ethereum mainnet, Arbitrum) demonstrate the elastic nature of API requests relative to the protocol’s traffic and volume. On high-traffic days, popular subgraphs can receive up to 50,000 requests per day.

Ready to Serve Institutional Demand
As of May 24th, 2024, Pendle’s TVL has reached an impressive $5.769 billion, according to DeFiLlama. Ormi Labs’ 0xgraph is supercharging the live data demands for Pendle, enabling thousands of users worldwide to deploy yield-bearing trading strategies across a wide range of assets.

As more financial activity moves on-chain, protocols like Pendle are poised to achieve similar levels of adoption as traditional financial markets. Ormi Labs is ready to provide the necessary data infrastructure and hosting to support the next generation of protocols that will form the backbone of the entire financial system and ultimately the entire internet.

Conclusion
Ormi Labs’ 0xgraph has proven to be a reliable and high-performing solution for Pendle’s data infrastructure needs, supporting the protocol’s exponential growth and preparing it for the institutional demand to come. As DeFi continues to evolve and mature, partnerships like that between Ormi Labs and Pendle Finance will be essential in driving mass adoption and reshaping the global financial landscape and the internet.