The Pyth Network unveiled its highly-anticipated W/USD and USDB price feeds for more than 50 blockchains. These new offerings reinforce Pyth's position as a leading provider of real-time data feeds for the DeFi ecosystem. The W/USD price feed monitors the value of $W, the governance token of Wormhole, an interoperability platform known for its multi-chain bridges and applications. Pyth's solution is praised for its speed and accuracy in delivering price feeds across various blockchains.
The company emphasized that Pyth quickly released these new price feeds in response to the demand in DeFi and highlighted its efficiency compared to other oracles. With a robust infrastructure focusing on interoperability, Pyth aims to provide essential financial tools for the next generation of blockchain applications.
In addition to the W/USD price feed, Pyth introduced price feeds for USDB, Blast's native stablecoin used on a layer 2 network. USDB facilitates automatic value transfer across decentralized applications for both externally owned accounts and smart contracts.
Enhanced Data Accessibility
Developers now have access to the W/USD and USDB price feeds on 50 different blockchains, enabling them to integrate these financial tools into their projects. As the need for reliable and timely data grows, Pyth Network's latest offerings are poised to influence the future of decentralized finance significantly.
Pyth recently achieved a notable milestone by integrating its oracle into Merlin Chain, a cutting-edge Bitcoin Layer 2 solution. Merlin Chain incorporates a ZK-Rollup network, a decentralized oracle network, and on-chain BTC fraud-proof modules. The addition of Pyth's price feeds enhances Merlin Chain's capabilities, making it more versatile and robust for managing Bitcoin assets and applications. Developers can now access over 400 low-latency data feeds across crypto and traditional financial sectors, supporting various smart contract applications such as derivatives trading, perpetual futures, and decentralized borrowing and lending services.
The integration of Pyth's oracle into Merlin Chain signifies a significant advancement for both companies and the broader DeFi ecosystem. It provides developers with real-time data access, empowering them to develop innovative and efficient solutions for the evolving financial landscape.
