Thala is a $PYTH Retrospective Airdrop Recipient

Thala Labs
7 min readFeb 8, 2024

Thala is a $PYTH Retrospective Airdrop Recipient

We are excited to share that Thala was part of the Pyth Network Retrospective Airdrop program. As long-time users of the Pyth price feed and now also Pyth data publishers, we are committed to contributing to the Pyth ecosystem over the long term!

Pyth x Thala

Firstly, how do we utilize Pyth? As a DeFi hyperapp on Aptos, Thala offers a broad array of products, ranging from Move Dollar (MOD) to Thalaswap and Thala LSD. Each of these products integrates Pyth price feeds; for instance, MOD relies on Pyth prices to calculate the collateral needed to mint MOD and to trigger liquidations if the collateral prices drop below the Minimum Collateral Ratio (MCR).

What will Thala do with these PYTH Tokens?

Thala plans to allocate these tokens towards several key areas:

  1. Covering publishing fees for various assets, including MOD, sthAPT, and THL, with more assets expected to be added soon.
  2. Enhancing the integration of PYTH price data feeds that we publish across the ecosystem, expanding their usage and accessibility.
  3. We are supporting strategic, operational, and marketing efforts to grow and sustain our initiatives.

Moreover, the airdrop will be instrumental in our ongoing efforts to enhance and deepen our integration with the Pyth network, ensuring continuous improvement and collaboration within the ecosystem.

Why Pyth?

Being one of the best oracles for price feeds in the market, integrating Pyth was a no-brainer for us. We have been using Pyth Price Feeds from day one because:

  1. Pyth was among the first oracle providers for Aptos.
  2. It offers wide coverage of assets, facilitating the addition of a broader range of collateral for MOD.
  3. Its security measures, such as confidence intervals, enhance reliability.
  4. The high update frequency and lightning-fast price updates are crucial for DeFi operations on high-performance blockchains like Aptos.
  5. Integration is straightforward and supported by an extremely responsive team!

https://x.com/adamcader_/status/1731120247137263716?s=20

Since integrating Pyth, we have facilitated over $150 million in swapping volumes and $100 million in Total Value Locked (TVL), with more than $20 million in value directly secured by Pyth!

What’s next?

We remain dedicated to contributing to the Pyth ecosystem, and we take pride in being the first Pyth data publisher on Aptos. Moving forward, we plan to:

  1. Publish price feeds for additional assets listed on our DEX, Thalaswap.
  2. Introduce PYTH tokens as collateral for minting MOD.
  3. Expand the integration of Pyth price feeds, including MOD, THL, and sthAPT, across the Aptos DeFi ecosystem.

We are excited about our upcoming plans for more in-depth Pyth integrations — so stay tuned. Explore Thala today to discover the capabilities of Pyth, and visit the Pyth Network for further information.

We are excited to share that Thala was part of the Pyth Network Retrospective Airdrop program. As long-time users of the Pyth price feed and now also Pyth data publishers, we are committed to contributing to the Pyth ecosystem over the long term!

Pyth x Thala

Firstly, how do we utilize Pyth? As a DeFi hyperapp on Aptos, Thala offers a broad array of products, ranging from Move Dollar (MOD) to Thalaswap and Thala LSD. Each of these products integrates Pyth price feeds; for instance, MOD relies on Pyth prices to calculate the collateral needed to mint MOD and to trigger liquidations if the collateral prices drop below the Minimum Collateral Ratio (MCR).

What will Thala do with these PYTH Tokens?

Thala plans to allocate these tokens towards several key areas:

  1. Covering publishing fees for various assets, including MOD, sthAPT, and THL, with more assets expected to be added soon.
  2. Enhancing the integration of PYTH price data feeds that we publish across the ecosystem, expanding their usage and accessibility.
  3. We are supporting strategic, operational, and marketing efforts to grow and sustain our initiatives.

Moreover, the airdrop will be instrumental in our ongoing efforts to enhance and deepen our integration with the Pyth network, ensuring continuous improvement and collaboration within the ecosystem.

Why Pyth?

Being one of the best oracles for price feeds in the market, integrating Pyth was a no-brainer for us. We have been using Pyth Price Feeds from day one because:

  1. Pyth was among the first oracle providers for Aptos.
  2. It offers wide coverage of assets, facilitating the addition of a broader range of collateral for MOD.
  3. Its security measures, such as confidence intervals, enhance reliability.
  4. The high update frequency and lightning-fast price updates are crucial for DeFi operations on high-performance blockchains like Aptos.
  5. Integration is straightforward and supported by an extremely responsive team!

Since integrating Pyth, we have facilitated over $150 million in swapping volumes and $100 million in Total Value Locked (TVL), with more than $20 million in value directly secured by Pyth!

What’s next?

We remain dedicated to contributing to the Pyth ecosystem, and we take pride in being the first Pyth data publisher on Aptos. Moving forward, we plan to:

  1. Publish price feeds for additional assets listed on our DEX, Thalaswap.
  2. Introduce PYTH tokens as collateral for minting MOD.
  3. Expand the integration of Pyth price feeds, including MOD, THL, and sthAPT, across the Aptos DeFi ecosystem.

We are excited about our upcoming plans for more in-depth Pyth integrations — so stay tuned. Explore Thala today to discover the capabilities of Pyth, and visit the Pyth Network for further information.

About Thala:

Thala is a decentralized finance protocol powered by the Move language, enabling seamless borrowing of a decentralized, over-collateralized stablecoin, Move Dollar, and capital-efficient liquidity provisioning via a rebalancing AMM on the Aptos blockchain.

Website: http://thala.fi/

Foundry: https://thalalabs.typeform.com/foundry

Discord: https://discord.gg/thala

Twitter: http://twitter.com/thalalabs

Documentation: https://docs.thala.fi

Disclaimer

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Thala Labs

Thala is a decentralized finance protocol on the Aptos blockchain.