back28 Jun 20233 min read
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Pyth Launches Price Oracles on Gnosis

We’re excited to announce that Pyth’s low-latency pull oracles are now available on Gnosis Chain for their developers to become #PoweredByPyth.

Gnosis Chain is one of the first Ethereum sidechains and has stayed true to its values. By allowing contributors around the globe to easily run a node, Gnosis Chain is secured by over 120k validators. Its diverse validator set and the community governance ensure Gnosis Chain remains credibly neutral at a much lower price point than mainnet.

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. Builders on Gnosis Chain can permissionlessly access any of the Pyth’s 250+ price feeds for equities, commodities, foreign exchange pairs, and cryptocurrency.

The network is now looking forward to supporting leaders in the Gnosis DeFi community. Pyth launch on Gnosis Chain is a significant step towards growing the broader Gnosis ecosystem and unlock once-inaccessible financial data for their developers and DeFi applications.


Gnosis Chain

Gnosis Chain is an EVM compatible, community owned network that prioritizes credible neutrality and resiliency, open to everyone without privilege or prejudice. Secured by over 100k validators around the world, Gnosis Chain has all the tooling you are used to and trustless bridges to mainnet soon. Using the same execution layer and consensus layer clients as Ethereum, Gnosis Chain is compatible with all future EIPs. Its diverse validator set and the community governance ensure Gnosis Chain remains credibly neutral at a much lower price point than mainnet. Only 1 GNO is required to spin up a validator and the process is user-friendly. Gnosis Chain uses a dual-token model. xDAI is a stable token used to pay for the execution of smart contracts and gas fees, and GNO is used for staking as the governance token for the GnosisDAO.

For more information about Gnosis Chain, please visit their website or documentation.

Pyth

The Pyth Network is a first-party financial oracle network designed to provide low-latency real-world data to multiple blockchains in a secure and transparent manner.

The network incentivizes some of the world’s biggest institutional market participants — exchanges, market makers, and financial services providers — to share their proprietary price data on-chain. Pyth continuously aggregates this first-party data on-chain for use by smart contract applications. Applications “pull” Pyth prices onto their native blockchain when needed thanks to Pyth’s on-demand (or “pull-based”) oracle design.

In less than a year, the network secured more than $2.0B in total value. Pyth has facilitated more than $50B in total trading volume and received over 1M client downloads from passionate developers looking to use Pyth data.

Pyth currently supports 250+ real-time price feeds across crypto, equities, ETF’s, FX pairs, and commodities.

For more information about Pyth, please visit 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 Gnosis community, you will soon see many more tokens supported on the network as well as Gnosis 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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