The Pyth Network has experienced substantial growth and development in the second quarter of 2024, as highlighted in Messari's recent status report. The network saw a 17% increase in demand-side activities, driven by its 246 million pull oracle updates across 70 blockchains. This surge in activity demonstrates the network's growing adoption and utility.

The quarter also marked a significant milestone for Pyth, as it transitioned to a pull oracle model on the Solana blockchain. This move has enabled more efficient and scalable data provision, further solidifying Pyth's position as a leading oracle network. Additionally, Pyth Entropy, the network's decentralized data provision service, processed 265,000 requests and generated $19,000 in revenue for Q2.

The Pyth protocol has continued to expand its reach and support, adding 45 new price feeds and extending its presence to 14 new blockchains. Furthermore, it has been integrated into 51 new applications, demonstrating its growing appeal and versatility. The network's publisher network has also grown, with 107 data providers now contributing to the ecosystem, a 7% increase from Q1.

Pyth has also taken steps to address the issue of Miner Extractable Value (MEV), introducing Express Relay, an off-chain priority auction network designed to mitigate its harmful effects on DeFi protocols and participants. This move underscores Pyth's commitment to ensuring the integrity and security of the DeFi ecosystem.

The selection of Pyth's oracle by Gauntlet to secure its yield vault on Morpho's DeFi lending protocol is a testament to the network's reputation and reliability. As Pyth continues to grow and evolve, it is likely to play an increasingly important role in the DeFi ecosystem, providing critical data and infrastructure support to a wide range of applications and protocols.