We are delighted to announce the Pyth Network’s deployment on the BNB Chain (Testnet) and our integration into the BNB Application Sidechains (BAS) Testnet. BNB Chain users and applications can now leverage Pyth’s first-party financial data.
Thanks to Wormhole, Pyth is able to stream high-fidelity financial data to BNB Chain. This deployment is a major step in Pyth’s mission to empower developers across all ecosystems, whether they are building on- or off-chain.
We are proud to join the BNB ecosystem at a crucial stage in its development towards mass adoption. We look forward to supporting BNB Chain’s developers in their quest to build the future of finance.
“Pyth has quickly established a strong reputation for its high-quality, uncompromising data that developers and dApps rely on to fuel visionary projects,” said Patrick Degenhardt, Vice President at BNB Chain Labs. “We are thrilled to partner with the Pyth Network as we continue to build the infrastructure underpinning Web3.”
“We are pleased to serve as the launch partner to Pyth on BNB Chain, which represents an exciting development for the dApp community,” said Brad Harrison, CEO of Venus. “Access to time-sensitive, real-world data is critical, especially in times of volatility, and Pyth’s game-changing precision and reliability will usher in a new era of innovation for the BNB community.”
Join us and the greater BNB community at the BNB Chain Revelation Summit (May 31, 10 AM UTC) for a discussion on the BNB Chain Vision and Roadmap, plus many other exciting topics!
We will also be hosting an AMA on Pyth and BNB Chain on our YouTube channel and Twitch Channel on June 1st at 2 PM UTC, so be sure to tune in to catch all of Pyth and BNB Chain’s latest news.
Build and Build (BNB) Chain
BNB Chain is one of the most popular blockchains in the world with peaks of over 2 million daily active users and more than $10B in total value locked across its various applications. Since its inception, the network processed about 2.5 billion transactions from 130 million active addresses.
BNB Chain (formerly known as Binance Smart Chain — BSC) is a community-driven, decentralized and censorship-resistant blockchain, powered by BNB. BNB has a market capitalization of $64 Billion. BNB Chain consists of BNB Beacon Chain and BNB Smart Chain (BSC), which is EVM compatible and facilitates a multi-chain ecosystem. Through the concept of MetaFI, BNB Chain aims to build the infrastructure to power the world’s parallel virtual ecosystem. For more information on BNB Chain visit https://www.bnbchain.world.
BNB Application Sidechains (BAS)?
The BNB Application Sidechains (BAS) is a framework that enables developers to easily create sidechains (AKA subnets) that are dedicated to applications in the BNB Chain ecosystem. Developers can deploy these sidechains in a matter of hours with custom parameters (e.g. number of validators) and technology (e.g. zk proofs) that meet their application requirements. This approach gives developers and users the flexibility to optimize for throughput or decentralization.
If you are interested in deploying your own blockchain, check out the BNB Chain Documentation.
What is Pyth?
Pyth is a first-party financial oracle network designed to publish continuous real-world data on-chain in a tamper-resistant, decentralized, and self-sustainable environment. The network incentivizes market participants — exchanges, market makers, and financial services providers — to share directly on-chain the price data collected as part of their existing operations. The network then aggregates this first-party price data on-chain and makes it available for free to either on- or off-chain applications. Pyth data end-users will have the option of paying data fees to hedge against potential oracle failure. This data fee model is part of Pyth’s incentive mechanism design which aims to attract more publishers to the network and, in turn, enhance network robustness.
More details are available on our website, whitepaper, docs, and wiki.
“Pyth’s integration with BNB Chain is a significant milestone in our mission to empower developers across all ecosystems with hi-fidelity data,” said Mike Cahill, Director of the Pyth Data Association. “With its energy efficiency and ultra-low-cost, instantaneous transactions, it is no surprise that BNB Chain has become one of the most popular blockchains in the world. We are proud to join the BNB ecosystem and look forward to supporting developers as they build the future of finance.”
Resources
- Pyth Website
- Pyth Docs
- Pyth Best Practices
- Pyth On-Demand Update
- Pythnet
- Pyth on Binance Sidechains
- 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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