Deploy Pyth on Fluent

Ideas Bank
1

Deploy Pyth on Fluent Network (EVM)

Abstract
Fluent is the first blended execution network, an Ethereum L2 that blends Wasm, EVM and SVM apps into a unified execution environment. In the Fluent state machine, smart contracts from different languages (i.e. Solidity, SVM Rust, Wasm-based languages like Python & C++) can all communicate synchronously with each other.

Through blended execution, developers can port over existing apps from EVM or SVM-based chains, or participate in a net-new engineering experience called blended apps that consist of different contracts using multiple languages within the same app.

Blended apps are a fundamentally new development paradigm enabled by blended execution and only possible on Fluent. They refer to apps built using tools from historically different VM ecosystems. Example blended apps include prediction markets written in Rust that support ERC20 tokens, or DEXs mostly written in Solidity that use a few Rust libraries.

Fluent’s upcoming testnet, anticipated in Q1, will come with SVM support, which means that Solana teams will be able to port over existing SVM apps and SVM apps will be able to run on Fluent. Once Fluent mainnet launches, teams will be able to access trust-minimized Ethereum-based liquidity, opening up an entirely new playing field for onchain participants.

Rationale
It is expected that there will be sufficient demand for Pyth price feeds on Fluent from day one given that a wealth of apps who intend to deploy on Fluent are within the defi vertical. As of the end of October, there are about forty apps that intend to deploy on Fluent. Some examples of defi apps include:

  • Ambient - AMM DEX with over $4bn in cumulative volume
  • Dinero - widely adopted liquid staking provider with over $75mil ETH locked
  • Angle.money - yield-bearing stablecoin provider backed by a16z

Lastly, Fluent has strong community traction, as evidenced by the below:

Discord

  • 200+ highly engaged community members (curated by roles)
  • 25+ ultimate members
  • 25k+ verified members
  • 1.2k+ weekly visitors

Twitter

  • 9.2% yearly engagement rate
  • 20+ high quality livestreams with an average of 500 viewers, featuring guests such as Dankrad, Monad, Scroll, L2Beat, etc.

Request
To ensure reliable execution, apps on Fluent require access to high quality price feeds from Pyth. Fluent proposes, subject to the approval of its upcoming DAO, Pyth DAO support of deployment of the Pyth EVM receiver contracts for its price feeds on Fluent.

Proposed Plan
Fluent proposes a deployment on both Fluent’s upcoming testnet and mainnet. Pending adoption by Fluent’s forthcoming DAO, Fluent may endorse Pyth as the preferred oracle for ecosystem apps.

Questions & Uncertainties
As it is not possible to forecast the number of transactions on Fluent mainnet from day one, it is proposed to run periodical price updates with the Price Scheduler for about 10 price feeds every minute.

5 Likes
2

Thanks @austin_fluent! As a supporter of both Pyth and Fluent, I’m really excited about your proposal!

While integrating Pyth’s price feeds is understandably the main focus of your proposal—an idea I support as a member of the Pyth DAO—I believe there are more opportunities for Pyth and Fluent to collaborate in ways that are mutually beneficial, especially in the areas of community and marketing.

The Pyth community is among the strongest in web3. The level of engagement, the authenticity of interactions, and the high quality of its members are remarkable, particularly given that it has been over a year since Pyth’s TGE. While many communities tend to wane post-TGE, Pyth’s has only grown stronger.

With Pyth’s significantly larger social media reach and influence, as well as its proven track record in community building and engagement, I believe Pyth could play a valuable role in supporting Fluent’s marketing and community growth. In return, Fluent could explore ways to provide other forms of value to the Pyth DAO and community members—whether through special roles, early access, or even a potential allocation of future tokens (if any) to the Pyth DAO.

It’s probably too early to discuss specifics, but I just wanted to bring up the idea of a partnership that goes beyond price feed integration, and explore other ways to align the interests of these two great projects.

3 Likes
3

Thank you for your post :slight_smile:

I am always bullish on expanding the Pyth ecosystem, and definitely see PMF with Fluent! Keen to read more and join your community to better understand!

5 Likes
4

Thanks a lot for the proposal @austin_fluent

Following the successful deployment of Pyth on opBNB—approved after community discussion—it’s great to see interest from another promising chain ecosystem like Fluent.

As with any new ecosystem, Fluent carries some uncertainty. Therefore, efficient resource allocation is crucial to support sustainable growth. Expanding Pyth’s presence on new chains brings benefits like increased protocol integrations, market share, and usage metrics. However, I suggest we also prioritize revenue as a key metric.

To ensure value from a testnet and mainnet deployment, it would be ideal if Fluent committed to running a price scheduler that proactively updates on-chain price feeds in both environments. This would (1) streamline the integration of Pyth for developers and protocols on Fluent, and (2) ensure a minimum, predictable oracle fee revenue.

For (2), I propose targeting $5,000 in monthly revenue for the Pyth DAO from Fluent. I welcome input on the optimal revenue metric, but I believe $5,000 is a reasonable starting point.

Several scenarios exist to achieve this monthly fee target, each with different implications for Fluent’s DeFi ecosystem and for Pyth.

As a reminder, Pyth’s design supports optional data fees for on-chain price feed updates. Specifically, each feed update incurs a fee in the native chain token; if multiple feeds are updated in a single transaction, the fee scales accordingly.

The table below illustrates scenarios based on variables such as feed count and update frequency, each hitting the $5,000 target by adjusting individual feed fees accordingly.

Scenario
Scenario1280Ă—585 107 KB

For example, in Scenario 1, Fluent commits to updating 1 feed every minute, totalling 43,200 monthly updates. Achieving $5,000 would require a $0.116 fee per update. Conversely, Scenario 7 involves updating 10 feeds per minute, resulting in 432,000 updates and requiring only a $0.012 fee to reach the target.

From experience, prospective Pyth users generally prefer “as frequent as possible” updates, typically every minute or at a price deviation threshold of 0.1-0.25%. Although DeFi developers often request the maximum feasible number of on-chain feeds, most new ecosystems begin with around 5-10 core assets.

Thus, I recommend Scenario 7, where Fluent updates 10 distinct feeds per minute, setting fees at $0.012. This pricing is both accessible for DeFi protocols and encourages further on-chain updates, whether through additional updates on top of the sponsored ones or via new feeds not supported by the Fluent Scheduler.

Looking forward to hearing everyone’s thoughts on expanding Pyth to Fluent and how best to approach its implementation.

5 Likes
5

As a Price Feed Council member and long-time supporter of Pyth Network, XBTO strongly supports both the Fluent Network proposal and Pyth’s structured approach to its deployment. This strategy has been implemented successfully in the past with other networks, such as opBNB.

We particularly appreciate the data-driven approach with measurable metrics and clear revenue targets. The proposed $5,000 monthly revenue target is a compelling starting point to bootstrap growth in this promising, new ecosystem. We also believe Scenario 7’s structure strikes an excellent balance for the current state of Fluent.

4 Likes
6

Thanks @Derrp appreciate the support! We’ve been big fans of Pyth for a while now and excited to see how our communities can work together

2 Likes
7

Thanks for your response!

Agreed, Pyth has one of the strongest brands in crypto and so we definitely appreciate the support.

We are definitely keen on rewarding active Pyth community members with exclusive perks, whether it be roles, NFTs, or points boost!

3 Likes
8

Thank you everyone for your replies and feedback to the above proposal.

Having taken into consideration your comments, the $5,000 monthly revenue target under Scenario 7 (10 feeds updated each minute) seems reasonable and should service the needs of the early DeFi community on Fluent mainnet.

Given Fluent’s plans for decentralization, the forthcoming Fluent DAO will need to eventually enter into a written contract with Pyth finalizing commercial terms and mutual agreement.

Note: the original proposal has been slightly modified to clarify the current timelines for testnet and the position of Fluent Labs & the forthcoming DAO.

1 Like