- Pyth Network has deployed its oracle contracts on the ShimmerEVM testnet, enabling access to over 200 price feeds across crypto, equities, FX, and commodities.
- The integration is critical for on-chain lending protocols, derivatives exchanges, and other ecosystem projects.
Pyth Launches Price Oracles on ShimmerEVM Testnet
Pyth Network has announced the deployment of its oracle contracts on the ShimmerEVM testnet, enabling access to over 200 low-latency price feeds across various assets like crypto, equities, FX, and commodities. The integration is crucial for on-chain lending protocols, derivatives exchanges, and other ecosystem projects.
TEA Sets Up Price Pushers for Six Assets
To bootstrap the ecosystem, the Tangle Ecosystem Association (TEA) will set up its own “price pushers” for six different assets, bringing prices on-chain that any application can reference and utilize for free. TEA will provide its price-pushing service for a limited period, variable upon network demand.
Pyth Network’s Financial Oracle Network
Pyth Network is a first-party financial oracle network that provides low-latency real-world data to multiple blockchains in a secure and transparent manner. With multiple price updates per second, Pyth currently supports over 200 price feeds across various assets, including upcoming feeds for additional ERC tokens.
Through this integration, the Shimmer ecosystem will have access to Pyth Network’s price feeds, which ecosystem projects can reference at any time and “push” them on-chain for use in smart contracts. Additionally, community projects can reference any Pyth Network data feed in their application with on-demand updates or by setting up their own price pusher.
In conclusion, Pyth Network’s deployment of its oracle contracts on the ShimmerEVM testnet is a significant milestone for the growth of Shimmer. The integration of Pyth’s financial oracle network enables access to over 200 low-latency price feeds across various assets, which is critical for on-chain lending protocols, derivatives exchanges, and other ecosystem projects.
The Tangle Ecosystem Association’s price pushers for six different assets bring prices on-chain that any application can reference and utilize for free, further boosting the growth of Shimmer’s ecosystem.
