Pyth Price Feeds Are Now Live on Injective inEVM
Pyth Price Feeds are now live on Injective inEVM, the first rollout for hyperscale concurrent VM development. The Pyth Price Feeds were introduced on the Injective mainnet in April 2023, and this deployment follows that.
On the recently released inEVM, smart contract developers may now access and use more than 450 low-latency price feeds for commodities, exchange-traded funds, cryptocurrencies, and even stocks and ETFs. Several decentralized apps that are releasing on the mainnet on Injective inEVM have been secured by Pyth Price Feeds.
Pyth Price feeds on Injective inEVM
On the inEVM DeFi ecosystem, Pyth Price Feeds are now live. On inEVM, smart contract developers will have unrestricted access to more than 450 data feeds spanning both conventional and digital asset types. More precisely, a variety of DeFi applications, including borrow/lend, stablecoin protocols, and derivatives, may be powered by Pyths low-latency price feed architecture.
With the introduction of Pyth Networks unique pull oracle design, smart contract apps may now demand or pull pricing updates from the Pythnet appchain. This architecture benefits from high-frequency and high-resolution pricing while guaranteeing downstream users dependable access to the latest price changes.
The Pyth ecosystem already powers the inEVM DeFi ecosystem:
Injective
Built to create the best Web3 financial apps, Injective is a layer one blockchain that is very fast and interoperable. With Injective, developers can create unrivaled dApps with powerful plug-and-play modules. The native asset (INJ) of Injective drives the continuously expanding ecosystem. With support from well-known investors like Jump Crypto, Pantera, and Mark Cuban, Injective is incubated by Binance.
Injective inEVM
The first Ethereum virtual machine to achieve complete composability across Cosmos and Solana is inEVM. Injective and Caldera worked together to establish the inEVM network.
Ethereum developers now have unrivaled access to Injectives worldwide network and user base thanks to inEVM, which opens up new possibilities for their protocols reach.
Pyth
The Pyth Network is a first-party financial data oracle network that securely provides low-latency pricing information for a range of assets to blockchains.
Some of the biggest market makers, trading companies, and exchanges in the world are encouraged by Pyth to provide their proprietary data to the network. Pyth compiles their pricing information for usage by smart contracts on the blockchain. When necessary, decentralized apps have the ability to fetch or request Pyth price updates on-chain.
The network currently supports over $3.0B and has secured over $2.0B in total value in less than a year. More than 450 real-time data feeds covering commodities, stocks, FX pairings, cryptocurrency, and equities are supported by Pyth, which has enabled more than $120 billion in trading volume across more than 50 blockchain ecosystems.
To learn more about Pyth, check out the documentation or website.
Read more: https://thenewscrypto.com/pyth-price-feeds-are-now-live-on-injective-inevm/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
