Pyth Network has announced the launch of the GMCI 30 Index Price Feed, making the GMCI cryptocurrency market price index accessible to over 60 blockchain ecosystems.
This launch is a step towards providing smart contract and blockchain developers with real-time financial data.
“We are pleased to announce that the Pyth Network will be broadcasting GMCI index prices,” said Martin Putman, CEO of GMCI. “This collaboration represents an important step forward in our mission to become the standard of choice in the cryptocurrency space.”
GMCI specializes in creating indices for digital assets, providing a transparent way to attract investors and financial institutions to Web3 markets.
This year, GMCI introduced GMCI 30 index, which tracks the top 30 digital assets based on market cap. The index includes top cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH).
Essentially, this new index was created to provide a snapshot of the cryptocurrency market, and help assess industry stability and growth trends.
Integration with GMCI 30
The Pyth Network's network of first-party data providers now offers developers seamless, permissionless access to the real-time price feed of the GMCI 30. While Pyth already covers major traditional market indices like the DJIA and SPY, the GMCI 30 is its first digital asset index feed .
Ben York, Vice President of Ecosystem at WOO, expressed his enthusiasm for the integration, highlighting the ongoing collaboration between GMCI, WOO and Pyth to develop valuable new indicators.
“As a long-standing data provider on the Pyth network, WOO
Several DeFi protocols, including Bluefin, D8X Exchange, Pingu Exchange, Vela Exchange, and Horizon Protocol, have already started using the feed. The Pyth Network provides real-time financial data to various blockchain ecosystems, promoting innovation and reliability in the digital asset market.