DeFi
Revolutionizing DeFi with Pyth Network's Express Relay Tool
Friday. July 12 at 6:00 AM
1 min. readPyth Network, a leading provider of real-time market data on the Solana blockchain, unveiled Express Relay at the Pyth Agora 2024 summit. This tool tackles Miner Extractable Value (MEV) issues in liquidation processing, enhancing DeFi market efficiency. MEV involves miners profiting from DeFi transactions, creating bidding wars. Express Relay shifts power to the most competitive bidder, streamlining transactions and saving resources. It connects DeFi protocols with searchers through auctions, attracting major players like Flow Traders. Notable protocols like Synthetix and Zerolend are already integrating with Express Relay. The launch boosted PYTH token price by 3.3%. Pyth Network's partnership with Ondo Finance to launch the USDY/USD price feed across 65 blockchains further solidifies its impact on the DeFi space. This tool marks a significant step towards a more efficient and decentralized DeFi ecosystem.