back09 Aug 20234 min read
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Pyth Launches Price Oracles on Base

It’s our pleasure to announce that Pyth’s low-latency pull oracles for market data are now available on Base, a secure, low-cost, builder-friendly Ethereum L2 built to bring the next billion users on-chain. This announcement follows the launch of Base mainnet.

Base is to make on-chain the next online and onboard one billion users into the crypto economy. In pursuit of this goal, Base will serve as both a home for Coinbase’s on-chain products and an open ecosystem where anyone can build.

Builders on Base mainnet can now access Pyth’s 250+ price feeds for equities, ETFs, commodities, foreign exchange pairs, and digital assets. CAP Finance, Perennial, DePerp, Buffer, and Pike Finance are taking the lead and leveraging Pyth Price Feeds on Base!

“We’re excited that Pyth is deploying on Base to support developers looking to build the future of finance and DeFi on-chain," said Jesse Pollak, Base Lead

“Ethereum Layer 2’s have been among the most vibrant communities and blockchains in recent months, Base included. Pyth expansion to Base is logical and aims to enable the current and future cohort of developers to build the future of finance on-chain,” said Marc Tillement, Director, Pyth Data Association. “We look forward to seeing existing partners expand to Base with the Pyth Network as well as support homegrown projects.”


Pyth on Base

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 Base can permissionlessly access any of Pyth’s 250+ price feeds for equities, ETFs, commodities, foreign exchange pairs, and cryptocurrencies.

CAP Finance is a decentralized trading protocol designed to be powerful and easy to use by all on Arbitrum. CAP V4 has been a Pyth user since January, and supported $3B in trading volume, with over $2M in fees collected. Following Pyth’s expansion to Base on testnet, CAP promptly followed suit and is now gearing up for their Base mainnet deployment.

Perennial is a DeFi-native derivatives primitive that allows for the creation of two-sided markets that trade exposure to an underlying price feed in a capital-efficient manner. Perennial is currently live on Arbitrum and generated over $1B in trading volume, with Pyth powering its user interface.

DePerp is a decentralized perpetual exchange that offers traders a wide range of benefits including self-custody asset management when trading crypto or forex, transparent on-chain transaction data, and on-chain liquidity and reserve confirmation. DePerp will integrate with Pyth for its upcoming launch on Base and Optimism.

Buffer Finance is a non-custodial exotic options trading platform on Arbitrum offering defined-outcome and fast-paced trading over crypto and non-crypto markets. Buffer Finance integrated with Pyth earlier in April and has processed $7M in trading volume and close to $1M in fees generated.

Pike is a next-generation money market for native assets where users can earn, borrow and build applications on any chain, including Base, Ethereum, Optimism, Polygon, Arbitrum, Avalanche, BNB Chain, and Solana. Pike has integrated with Wormhole’s cross-chain message relayer infrastructure and Circle’s cross-chain transfer protocol. Finally, Pyth Price Feeds will enable the platform to efficiently and accurately value the native assets of the blockchains where Pike is deployed.

To learn more about how to integrate with Pyth Price Feeds on Base, you can check out our documentation.

Base

Base is an Ethereum Layer 2 network offering a secure, low-cost, developer-friendly way to build decentralized apps. Base is built on the open-source OP Stack, in collaboration with Optimism, a fast, stable, and scalable L2 blockchain built by Ethereum developers for Ethereum developers. Optimism was imagined and designed as a minimal extension to existing Ethereum software, and its EVM-equivalent architecture scales your Ethereum apps without surprises.

More details are available on the Base 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 250+ 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 Base community, you will soon see many more Base 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


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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