Ethereum and Optimism Integration with Pyth Network

Published on: 02.11.2022
Ethereum and Optimism Integration with Pyth Network

Pyth Network, a first-party oracle system designed to broadcast continuous real-world data on-chain in a tamper-resistant, decentralized, and self-sustaining environment, has announced the integration of its high-fidelity data feeds on Ethereum and Optimism.

Through the integration, any Ethereum or Optimism program can permissionlessly request and directly consume any of the Pyth Network 80+ data feeds for equities, commodities, foreign exchange pairs, and cryptocurrency to power their protocols.

Management Quote

Mike Cahill, Director of the Pyth Data Association, said, “Ethereum is among the earliest and most prominent blockchains in existence, which is one of the many reasons why this integration is significant. We are excited to officially join the Ethereum and Optimism ecosystems as we continue to equip developers with high-quality data and enable a wide range of new dApps that are powered by Pyth.”

There is a cohort of applications across the DeFi sector leading this launch. Icluding Ribbon Finance, Lido, Hashflow, MANTRA, Flexa, AMP, Infinity Exchange, and SOMA.finance.

“We aim to build the most consumer-friendly trading application and believe that user experience is paramount.” said Varun Kumar, CEO and Co-Founder of Hashflow. “Our goal is for users to always get the best rates possible and Pyth’s data feeds and safety tools would allow us to do exactly that.”

“We are excited to use Pyth for Ribbon Vaults,” said Julian Koh, Co-Founder of Ribbon Finance. “It is extremely important that expiry prices for our vaults have high levels of precision. Pyth helps to ensure that the options contracts that our vaults trade expire at the correct levels.”

The Pyth Network includes over 80 prominent financial market participants. As data publishers across crypto, equities, FX, and metals, with 400ms update frequencies. Pyth price feeds have been available on the Solana mainnet since August 2021 and BNB Chain since May 2022. Pyth network announced the deployment of its first-party financial data on Aptos mainnet as it continues to scale.

About Pyth Network

Pyth Network, a specialize oracle solution for latency-sensitive financial data that is typically keep behind the “walled gardens’’ of centralize institutions. Pyth network, focused on finding a new and inexpensive way to bring this unique data on-chain and aggregating it securely.

Website | Twitter 

The Pyth Data Association’s Mission

The Pyth Data Association, founded to assist the Pyth network. A specialized oracle solution for latency-sensitive financial data traditionally stored behind the “walled gardens” of centralized institutions. A board of directors elected by Pyth network members governs the Pyth Data Association.

About Optimism

Optimistic Ethereum, a layer 2 scaling solution that enables anyone to execute any vision on an open-source protocol that will never be capture by private commercial interests. OΞ, built as a public good, in order to fundamentally change the relationship between companies and their users. Optimism PBC is the team developing OΞ.

Website Twitter 

SOURCE

https://www.businesswire.com/news/home/20221101006227/en/Ethereum-and-Optimism-Integrate-with-the-Pyth-Network-to-Unlock-HiFi-Data-for-Developers

REQUEST AN ARTICLE

 

 

Market Stats:
BTC Dominance: 38.53%(+0.20%/24h)
ETH Dominance: 17.93%(-0.20%/24h)
Defi Market Cap: $36.52B(-4.72%/24h)
Total Market Cap: $842.16B(-1.71%/24h)
Total Trading Volume 24h: $37.03B(+2.82%/24h)
ETH Market Cap: $148.75B
Defi to ETH Ratio: 24.55%
Defi Dominance: 4.16%
Altcoin Market Cap: $517.68B
Altcoin Volume 24h: $17.46B
Total Cryptocurrencies: 21974
Active Cryptocurrencies: 8986
Active Market Pairs: 58860
Active Exchanges: 529
Total Exchanges: 4391