Pyth Price Feeds go live on IOTA EVMPyth Price Feeds go live on IOTA EVMPyth Price Feeds go live on IOTA EVM
Pyth Community, a real-time market knowledge platform, has introduced the launch of Pyth Value Feeds on IOTA (MIOTA), as per the newest updates shared with Finbold on June 12.
The launch marks a big step ahead in Pyth Community’s mission to convey real-world asset (RWA) and crypto asset worth knowledge on-chain.
Actual-time knowledge for builders
As a totally Ethereum Digital Machine (EVM)-compatible Layer-2 answer for the IOTA community, IOTA EVM provides a scalable, fee-less, and permissionless distributed ledger for safe monetary exchanges.
With the brand new integration, good contract builders on IOTA can now entry over 500 real-time worth feeds for equities, cryptocurrencies, commodities, exchange-traded funds (ETFs), and Foreign exchange.
Pyth sources this worth knowledge from first-party institutional and decentralized market individuals.
Susanne Krone, Head of Ecosystem at IOTA Basis,emphasised the significance of the combination, stating:
“The mixing of Pyth’s oracle providers represents an vital development for the IOTA ecosystem. We’re delighted to usher in a supply of exact, real-time knowledge, which opens up a large number of latest prospects for builders using IOTA EVM. This integration enhances knowledge reliability and safety, equipping our builders with the essential instruments wanted to innovate and assemble the digital economic system of the long run.”
IOTA’s distinctive strategy to knowledge alternate
IOTA’s distributed ledger know-how facilitates safe on-chain worth and knowledge alternate with out charges.
Constructing on these options, IOTA EVM goals to supply tamper-proof knowledge, fee-less transactions, and low useful resource necessities, fostering new enterprise fashions with a concentrate on tokenization and RWAs.
The deployment of Pyth Value Feeds is important for reaching these objectives, offering dependable worth knowledge for real-world and conventional belongings to safe their alternate and worth switch.
A number of decentralized finance (DeFi) functions on IOTA EVM are already leveraging Pyth Value Feed, together with Deepr Finance, A DeFi platform initially constructed on Shimmer EVM and now obtainable on IOTA EVM, and Advantage Cash, A protocol permitting customers to mint an over-collateralized stablecoin on IOTA EVM with 0% rates of interest.
