Francium Receives $PYTH Tokens from Pyth Retrospective Airdrop Program
Brief Intro to Francium
Francium is a DeFi yield strategy & lending platform on Solana, providing leveraged/hedged farming, DeFi strategies & on-chain trading strategies. Users can also deposit assets into Francium’s lending pools to earn passive income.
How is Francium using Pyth Price Feeds?
Francium uses real-time prices on AMMs (Raydium, Orca, etc.) as well as Pyth Price Feeds as its price feed.
On-chain price feed is used to evaluate the health status of user positions (trustable price feed could help avoid price manipulation), it is also used to display asset price (token, LP), and position information on the website.
Pyth Price Feeds enable Francium to enhance security and reliability for pricing on-chain. You can experience our integration with Pyth at Francium Dapp.
Powered by Pyth, Francium has been providing users with the best experience. As part of this partnership, we are proud to announce that Francium received $PYTH tokens from Pyth Network Retrospective Airdrop program for dApps!
These tokens will allow us to develop better and give users a more rewarding DeFi experience.
What will Francium do with these $PYTH tokens?
Francium intends to utilize these $PYTH tokens to strategically advance its project by implementing automated DeFi solutions. The funds will be allocated towards the development of these features, aiming to enhance the platform’s overall functionality.
Additionally, Francium plans to allocate a portion of the $PYTH tokens to reward our users by incentivizing pools on Francium or through engaged campaigns. Stay tuned for more details as we unveil the specifics of these upcoming initiatives.
Why has Francium chosen to integrate with Pyth Data?
Pyth is the leading decentralized blockchain oracle solution, already helping to secure tens of billions in value across DeFi protocols on different chains. Francium chose Pyth Price Feeds to help secure user lending and leveraged yield farming on the protocol. Pyth Price Feeds enable Francium to enhance security and reliability for pricing on-chain greatly.
Pyth Price Feeds have distinct technical and security benefits, such as:
- Latency and frequency of updates
- Security measures (such as confidence intervals)
- Ease of integration
- Competitive platform fees thanks to Pull Oracle design
- Wide coverage of assets
“Enhancing capital efficiency via on-chain automation represents a significant leap beyond conventional financial methods. We require the most accurate and reliable pricing to help ensure that liquidations are correct. In this regard, Pyth Price Feeds stand out as the optimal solution for our requirements,” stated Francium Co-Founder.
About Pyth
Pyth Network is an oracle protocol that connects the owners of market data to applications on multiple blockchains. Pyth’s market data is contributed by over 90 first-party publishers, including some of the biggest exchanges and market making firms in the world. Over 100 protocols on 20+ blockchains trust Pyth to secure their applications.
Pyth Network offers several products for developers:
- Price Feeds provide real-time prices for 400+ assets on 40+ blockchain ecosystems, including Solana, many EVM chains, Aptos, Sui, and several Cosmos chains.
- Benchmarks provides historical Pyth prices for both on- and off-chain use.
- Entropy allows developers to generate secure random numbers on the blockchain.
Feel free to join the Pyth Discord and Telegram, and follow Pyth on X. You can also learn more about Pyth here.
About Francium
Francium is a DeFi Strategy Platform on Solana. On Francium, you will find bespoke yield strategies and a decentralized strategy building infrastructure designed and built specially for you DeFi users.
Follow Francium on social media to stay up-to-date:
🌐 Official Website: https://francium.io/app
🐦 Twitter: https://twitter.com/Francium_Defi
👾 Discord: http://discord.gg/francium
💬 Telegram: https://t.me/franciumprotocol
