Pyth Network's Partnership with Fuel Network: Empowering DeFi Development

Pyth Network, a renowned oracle network known for its 1st-party financial data, has forged a recent collaboration with Fuel Network. This partnership has led to the launch of Price Feeds on the testnet of Fuel Network, aimed at aiding developers in their projects. The platform detailed this significant development through an official blog post on its website.

Pyth Introduces Price Feeds on Fuel Network's Testnet in a New Alliance

The availability of Pyth Price Feeds on Fuel Network's testnet has been highlighted for developers to access. This endeavor focuses on Ethereum rollups and supports developers in building decentralized economies. The Pyth Price Feeds specifically target DeFi creators aiming to advance on-chain financial services. Consequently, smart contract teams like SPARK now have access to over five hundred price feeds.

These feeds cover a wide range of assets including equities, forex pairs, commodities, ETFs, and cryptocurrencies. Fuel, functioning as an operating system tailored for Ethereum rollups, offers developers tools to establish decentralized economies. Moreover, Fuel introduces a unique VM designed to enhance interoperability, customization, and parallelization for efficient scaling.

Advancing User and Developer Experience through the Collaboration

Scalable infrastructure is crucial for blockchain entities seeking to accommodate new services and expand their user base. The Pyth Network's collaboration allows Fuel-based DeFi protocols to autonomously request on-chain price updates. The gas efficiency of the pull oracle ensures downstream users within the Fuel ecosystem benefit from timely updates.

Users can rely on consistent access to real-time market data and prices through Pyth's contribution to the initial perpetual protocol on Fuel. SPARK, operating as a leading super app in DeFi, aims to disrupt financial services by offering a suite of integrated products such as borrowing, lending, order books, and perpetual contracts.

Fuel enhances user experience by prioritizing rollup sustainability, interoperability, and performance through FuelVM. Its goal is to expand the capabilities of the Ethereum ecosystem, supporting local account abstraction and multiple signature schemes.

Pyth Network provides updated price data securely to blockchains, benefiting major trading firms, market makers, and exchanges globally.