Pyth Network, a well-known oracle network renowned for its 1st-party financial data, has recently forged a new partnership with Fuel Network. In a bid to support developers, the platform has now unveiled its Price Feeds on the testnet of Fuel Network. To shed light on this exciting development, Pyth Network released an exclusive blog post on its official website.
Pyth Reveals Price Feeds on Fuel Testnet in Latest Collaboration
Developers can now access the Pyth Price Feeds on the testnet of Fuel Network, focusing on Ethereum rollups and aiding in the creation of decentralized economies. These Price Feeds are aimed at empowering DeFi builders who are at the forefront of developing the next wave of on-chain financial services. Notably, teams of smart contract developers, such as SPARK, can tap into over five hundred price feeds, covering equities, foreign exchange pairs, commodities, exchange-traded funds, and crypto assets.
Fuel, acting as an operating system specializing in Ethereum rollups, offers developers the tools needed to establish decentralized economies. Moreover, Fuel introduces a unique VM that facilitates interoperability, customizability, and parallelization for efficient scaling.
Advancements in User and Developer Experience
In a landscape where blockchain entities require scalable infrastructure to support new services and expand their user base, Pyth Network’s initiative allows Fuel-based DeFi protocols to seamlessly request on-chain price updates. The gas efficiency of the pull oracle ensures that downstream consumers within the Fuel ecosystem reap the benefits, with consistent access to up-to-date market data and prices. Pyth has already powered the inaugural perpetual protocol on Fuel, with SPARK operating as a super app within the DeFi sector, offering a range of integrated products including borrowing, lending, order books, and perpetual contracts.
Fuel is dedicated to providing an unparalleled user experience by incorporating rollup sustainability, interoperability, and performance enhancements. Operating under the FuelVM, it aims to expand the capabilities of the Ethereum ecosystem while supporting local account abstraction and multiple signature schemes. These features enable blockchain-based wallets to seamlessly connect to the network. On the other hand, Pyth Network offers recently updated price data to blockchains, ensuring secure handling of diverse assets and benefiting some of the largest trading firms, market makers, and exchanges globally.