back02 Mar 20234 min read
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Pyth Launches Price Oracles on Cronos

We’re excited to announce that Pyth Price Feeds are now live on Cronos, the leading EVM-compatible chain build on the Cosmos SDK. Cronos-based applications like Fulcrom, a decentralized perpetual exchange, are already leveraging Pyth data to offer soon-to-be-revealed products!

We look forward to supporting the broader Cronos ecosystem by unlocking once inaccessible financial data for builders. Builders on Cronos chain can now access Pyth’s 200+ price feeds for equities, commodities, foreign exchange pairs, and cryptocurrency! Our integration with Cronos is made possible thanks to Wormhole and many leading Cronos contributors.

“We are excited to announce the integration of Pyth network with the Cronos chain. With Pyth’s integration, Cronos developers can now access reliable, accurate and real-time data feeds that are crucial for onchain smart contracts to interact with off-chain data sources.” said Ella Qiang, Head of Ecosystem at Cronos Labs. “We look forward to seeing the positive impact this partnership will have on the Cronos ecosystem and our DeFi community.”


Pyth on Cronos

The Pyth Network introduces an innovative on-demand pull model oracle, where users are empowered to push available prices on-chain when needed to enable everyone in that blockchain environment to access that data point.

Pyth data on Cronos is already been leveraged by Fulcrom, a decentralized perpetual exchange that allows users to trade leveraged positions with low fees and zero price impact, while having the peace of mind that all trades and collateral are stored transparently on-chain.

By integrating with Pyth low-latency price feeds, DEXs or borrow-lending protocols can offer lower fees to users, as they are less likely to receive toxic trading flow or delayed price points from using a stalled oracle.

As of today, builders on Cronos can permissionlessly request and directly consume any of Pyth’s 200+ price feeds for equities, commodities, FX pairs, and cryptocurrencies!

“Having fresh data is essential for traders to stay agile and responsive in all market conditions. Fulcrom is integrated with Pyth Data for price and data feeds to keep traders informed, allowing you to get accurate insights and stay alert to market changes and trends, said Fulcrom Finance Product Manager. “The teams are collaborating with the same goal to enhance the trading experience in Cronos, and we would love to hear your feedback.”


Cronos

Cronos is the leading EVM-compatible chain build on the Cosmos SDK. Cronos aims to massively scale DeFi and GameFi by providing developers with the ability to rapidly port dApps from Ethereum and EVM-Compatible chains, while also benefiting from the multi-chain thesis of the Cosmos ecosystem.

Cronos is powered by the open-source project Ethermint, which allows for the rapid porting of smart contracts from Ethereum and EVM-compatible chains. The Inter Blockchain Communications (IBC) protocol enables interoperability and bridging between Cronos and the Crypto.org Chain as well as other Cosmos chains.

For more information, please visit Cronos website.

Pyth

The Pyth Network 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 continuously aggregates this first-party price data and makes it available to either on- or off-chain applications through a price service API. Users of Pyth Data can then permissionlessly update the prices on-chain whenever needed.

In less than a year, the network secured more than $2.0B in total value. Pyth has supported more than $35B in total trading volume, with over 750K client downloads from passionate developers looking to use Pyth data.

Pyth currently supports 200+ price feeds across crypto, equities, FX, and commodities, with multiple price updates per second. Upcoming feeds include additional ERC tokens.

More details are available on our website, whitepaper, docs, and wiki.

“With over 100 dApp integrations over many blockchains, it is clear that applications across the board are quickly realizing the benefits that the Pyth Network delivers via vast amounts of low-latency, high-quality and on-demand market data,” said Mike Cahill, Director of the Pyth Data Association. “We are excited to further expand to Cronos and empower its community with reliable market data so that builders across DeFi have the infrastructure needed to build the future of finance.”


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 Cronos community, you will soon see many more Cronos ecosystem tokens supported on the network as well as Cronos applications leveraging Pyth data. You can find our price feeds 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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