Category: Forex News

Pyth Price Feeds Launch on Injective inEVM

By Published On: March 14, 20242.4 min readViews: 1520 Comments on Pyth Price Feeds Launch on Injective inEVM

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In a move designed to accelerate the development of decentralized finance (DeFi) applications, Injective Labs announced the official launch of Pyth Network price feeds on its innovative inEVM platform. This integration equips developers with a reliable and secure source of real-time market data, fueling the next wave of DeFi innovation.

inEVM, is the first rollup specifically designed for concurrent virtual machine (VM) development. This groundbreaking technology allows developers to leverage the strengths of various VMs, including WASM, inEVM, and inSVM, all secured by the Injective blockchain.

Pyth Price Feeds are already securing a few decentralized applications launching on mainnet on Injective inEVM.

Smart contract developers on the newly launched inEVM can now access and build with 450+ low-latency price feeds for cryptocurrencies, commodities, foreign exchange pairs, and even equities and exchange-traded funds.

The developers will benefit from permissionless access to over 450 data feeds across digital and traditional asset classes. More specifically, Pyth’s low-latency price feed infrastructure can power a wide range of DeFi applications, from perpetual trading to derivatives, as well as borrow/lending and stablecoin protocols.

This fosters interoperability, enabling developers to seamlessly integrate functionalities from different ecosystems like Ethereum, Solana, and Cosmos.

“Pyth Price Feeds play a pivotal role in developing the rapidly growing inEVM ecosystem. inEVM’s ability to empower Ethereum developers with true composability across Solana and Cosmos provides access to developers building innovative DeFi applications,” shared Eric Chen, CEO and co-founder of Injective Labs. “Pyth is a long term contributor to Injective, and we are pleased to see it continuing to be utilized for inEVM.”

Pyth Network introduces a specialized pull oracle design that empowers smart contract applications to request or pull price updates from the Pythnet appchain on demand. This architecture ensures that downstream users have reliable access to the most recent price updates while also benefitting from high-frequency and high-resolution prices.

The synergy between inEVM’s interoperable environment and Pyth’s robust price feeds empowers DeFi developers to construct a new breed of financial applications. Imagine a lending protocol that can automatically adjust interest rates based on real-time market fluctuations or a derivatives exchange offering a wider range of asset classes – all built with the security and efficiency of Injective and Pyth.

The launch of Pyth Price Feeds on inEVM marks a significant step forward for the DeFi landscape. By offering developers a powerful combination of interoperability, scalability, and reliable market data, Injective and Pyth are paving the way for a future of innovative and user-centric DeFi applications.

Also Read: Nomura’s Laser Digital Joins Pyth Network as Data Provider

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