We’re thrilled to announce the developers' release of Pyth Network’s low-latency oracles on Stacks, a Bitcoin layer that enables decentralized apps and smart contracts. This early access launch is intended for developers to test, explore, and begin integrating their decentralized applications with real-time price data.
This integration provides developers on Stacks permissionless access to 300+ price feeds for equities, ETFs, commodities, foreign exchange pairs, and digital assets. ALEX, Arkadiko, Hermetica, and Zest are taking the lead and integrating with Pyth to power their financial services.
This deployment has been made possible thanks to the amazing contributors at Hiro, the developer tools company for Bitcoin layers. We are excited to collaborate with the Stacks ecosystem and see what we can achieve together in the future.
“Bitcoin DeFi is thriving and Hiro is proud to be a part of bringing Pyth to the Stacks ecosystem to help provide developers with the building blocks they need like a powerful oracle,” said Alex Miller, Hiro CEO.
“We're thrilled to contribute to the flourishing landscape of Bitcoin DeFi,” said Marc Tillement, Director of the Pyth Data Association. “Partnering with Hiro to integrate Pyth into the Stacks ecosystem is a testament to our commitment to empower developers with essential building blocks, including a robust oracle solution.”
Pyth on Stacks
The Pyth Network introduces an innovative low-latency pull oracle design, where users are empowered to “pull” price updates on-chain when needed, enabling everyone in that blockchain environment to access that data point. Developers on Stacks can permissionlessly access any of the Pyth’s 300+ price feeds for equities, commodities, foreign exchange pairs, and cryptocurrency.
ALEX operates as a Bitcoin DeFi protocol. Utilizing Bitcoin for settlement and Stacks for smart contracts, ALEX enables anyone to launch, bridge, trade, and earn seamlessly. At the heart of ALEX lies its dynamic DEX, encompassing both AMM and orderbook functionalities. Catering to both Bitcoin L1 tokens and SIP10 standards.
Arkadiko Finance is a decentralized, non-custodial liquidity protocol for minting stablecoins, earning interest on deposits, and borrowing assets on Stacks.
Hermetica Finance is a protocol for non-custodial structured financial products for Bitcoin. The Hermetica vault uses automated options strategies to generate a risk-adjusted yield on Bitcoin. Hermetica Finance is currently live on Testnet.
Zest is the first Bitcoin native lending protocol that uses smart contracts that create and adjust liquidity pools to fund loans, distribute rewards to BTC liquidity providers, and process withdrawals. Zest is currently in private beta.
For more information about using Pyth Price Feeds, check out the documentation.
Stacks
Stacks is a Bitcoin Layer for smart contracts; it enables smart contracts and decentralized applications to use Bitcoin as an asset and settle transactions on the Bitcoin blockchain.
In December 2022, the sBTC whitepaper was released along with plans for the 2023 Nakamoto Release which will bring faster speeds and transactions backed by 100% of BTC security to the Stacks Layer. The launch of sBTC will unlock Bitcoin as a fully programmable, productive asset for countless use cases.
In the Stacks ecosystem, there are currently 30+ companies including a non-profit Stacks Foundation, a developer tooling company Hiro, Xverse, Trust Machines, New Internet Labs, Mechanism, Daemon Technologies, ALEX, Arkadiko, etc.
For more information about Stacks, please visit their website.
Pyth
The Pyth Network is the largest first-party financial oracle network delivering real-time market data to over 25 blockchains securely and transparently.
The network comprises some of the world’s largest exchanges, market makers, and financial services providers publishing their proprietary price data on-chain for aggregation and distribution to smart contract applications.
In less than a year, the network secured more than $2.0B in total value. Pyth has facilitated more than $50B in trading volume and received over 1M client downloads from passionate developers. Pyth supports 300+ low-latency price feeds across digital assets, equities, ETFs, forex pairs, and commodities. You can learn more about Pyth from the website or documentation.
What’s Next?
We look forward to building the future of finance together! Check out the resources below to get started. If you have any questions, please reach out.
Now that Pyth has officially joined the Stacks community, you will soon see many more Stacks applications becoming #PoweredByPyth. You can find the price feeds available on our website and discover which price feeds are in the pipeline. If you would like to request a new price feed, please let us know in our Discord.
Resources
- Pyth Website
- Pyth Docs
- Pyth Best Practices
- Pyth On-Demand Update
- Pythnet
- Pyth on Stacks
- Pyth Price Feeds IDs
- Pyth for Off-Chain Use
- Pyth Discord
- Pyth Telegram
We can’t wait to hear what you think! You can join the Pyth Discord and Telegram, follow us on Twitter, and be the first to hear about what’s new in the Pyth ecosystem through our newsletter. You can also learn more about Pyth here.
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