The Pyth network, a first-party oracle solution designed to publish continuous real-world data on-chain in a tamper-resistant, decentralized, and self-sustainable environment, today announced that its high-fidelity data feeds are now available on Ethereum and Optimism, a Layer 2 scaling solution for Ethereum. Through the integration, any Ethereum or Optimism program can permissionlessly request and directly consume any of Pyth’s 80+ data feeds for equities, commodities, foreign exchange pairs, and cryptocurrency to power their protocols.
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, including 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. Earlier this month, Pyth network announced the deployment of its first-party financial data on Aptos mainnet as it continues to scale.
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About Pyth Network
The Pyth network is a specialized oracle solution for latency-sensitive financial data that is typically kept behind the “walled gardens” of centralized institutions. The Pyth network is focused on finding a new and inexpensive way to bring this unique data on-chain and aggregating it securely. Learn more about the Pyth Network at pyth.network.
About the Pyth Data Association
The Pyth Data Association was created in support of the Pyth network, a specialized oracle solution for latency-sensitive financial data that is typically kept behind the “walled gardens” of centralized institutions. The Pyth Data Association is overseen by a board of directors elected by members of the Pyth network.
About Optimism
Optimistic Ethereum is a layer 2 scaling solution that enables anyone to execute any vision on an open-source protocol that will never be captured by private commercial interests. OΞ is being built as a public good, in order to fundamentally change the relationship between companies and their users. Optimism PBC is the team developing OΞ.
For more information about Optimism, please visit optimism.io.
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