Pyth Launches Price Oracles on IOTA EVM
Securing Data Availability and Accuracy
TL;DR:
A key piece of infrastructure is launching on IOTA EVM. Pyth Network is a provider of low-latency price oracles and their state-of-the-art solution delivers price feeds for more than 500 different assets, providing dApps with quick, easy, and secure access to valuable data.
We are delighted to announce that Pyth Network (https://pyth.network/) has deployed its oracle services on IOTA EVM. Oracles play a crucial role in getting trusted real-world data “from the outside” on-chain, making them ready for use in smart contracts.
Pyth Network is a first-party oracle network aiming to provide a frictionless and easy solution for DEXs, lending protocols, and derivatives platforms. More than 300 apps and 50 blockchains trust its services. Price updates are pushed multiple times per second, to ensure perfect and uninterrupted data availability.
With the integration of Pyth Network's oracle services, the IOTA ecosystem gains access to a robust infrastructure that enhances data accuracy and security, crucial for a thriving DeFi ecosystem. This partnership provides developers with the tools to create innovative financial products and services, ranging from sophisticated trading algorithms to comprehensive lending platforms.
Accurate, reliable, and secure data feeds are a necessity for every DeFi protocol. Pyth provides all of this for more than 500 assets, making it the state-of-the-art solution for projects and innovators.
This integration marks a major milestone towards bootstrapping a successful ecosystem and welcoming many cohorts of builders to utilize IOTA EVM’s powerful properties to build the digital economy of the future.
