Introduction

OmniBTC is a decentralized cross-chain swap and lend/borrow platform, aiming to connect and unify all the on-chain liquidity.

Acknowledging Pyth Network’s competitive advantages and promising future, we cooperated last June, mainly using its comprehensive and high-quality price feed service to offer excellent token prices to our OmniLending users.

Since integration, Pyth Network has served 337.9M trading volume, 31.4M TVL, 12,481 user addresses, and 100,000 times price feeds in OmniLending.

Allocation Utility

As part of the thriving Pyth Network ecosystem, we are excited to have received a $PYTH token from its Retrospective Airdrop program, which provides substantial official support to enhance our services.

The primary proposal is aimed at refining our OmniLending service in two ways.

Firstly, it will subsidize some of the fees users face when leveraging Pyth’s price feed offers in the upcoming months, reducing user costs and making OmniLending more user-friendly.

Secondly, it will aid in the development of an omnichain lending universe, supporting additional chains and tokens to expand lending opportunities while also boosting Pyth Network usage.

Why Pyth Network?

Pyth network provides us with the following:

• Real-time, accurate, and dependable data, vital for our lending operations, allows our protocol to deliver an improved Defi experience to users.

• The smooth integration process lets us efficiently incorporate Pyth’s data into our operations without causing significant disruptions to our services.

• A broad asset coverage ensures we have access to a wide range of data, enabling us to provide diverse services to our users.

Pyth’s presence across more than 160 #PoweredByPyth dapps across 27 chains amplifies its versatility, making it an ideal choice for our platform, which seeks to meet a broad spectrum of needs in the crypto lending industry.

We foresee a bright future in the Oracle landscape, and Pyth Network is undoubtedly leading the way.