back22 Mar 20233 min read
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Pyth Launches Price Oracles on Injective (Testnet)

We’re excited to announce that the Pyth Price Feeds are now available on Injective (testnet), a lightning fast blockchain optimized for building financial applications. Leading applications from the Injective ecosystem like Helix, a decentralized order book exchange for crypto spot and derivatives trading, are looking to leverage Pyth data to offer yet seen products on Cosmos.

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

“We are thrilled to be working with Pyth to bring novel asset data into the Injective universe. Now developers create markets with high fidelity on-chain data, bringing forth a new paradigm of cross-chain data composability,” said Injective Labs co-founder and CEO, Eric Chen.

“Injective is one of the most successful blockchains within the Cosmos Hub to date, which is one of the many reasons why this integration is significant,” said Mike Cahill, a director of the Pyth Data Association. “We are excited to officially join the Cosmos ecosystem as we continue to provide developers with high-quality data and enable a revolution within DeFi.”


Pyth on Injective

The Pyth Network introduces an innovative On-Demand Pull Model oracle, where users are empowered to push available prices on-chain when needed and thereby enable everyone in that blockchain environment to access that data point.

The Pyth integration allows dApps on Injective to access never before seen assets and markets. For example, applications on Injective such as Helix could utilize Pyth to create markets for new crypto assets or real-world assets (RWAs). This could mean that users could now access prices for metals, forex, and more in an entirely decentralized setting rooted in transparency.

For more information about using Pyth data on Cosmos, check out our documentation.


Injective

Injective is a blockchain where developers can find robust out-of-the-box modules such as a completely decentralized orderbook that can be utilized to build a diverse array of sophisticated applications. Moreover, Injective operates as an open interoperable smart contracts platform.

Injective is built using the Cosmos SDK and is able to attain instant transaction finality using the Tendermint proof-of-state consensus framework. In addition, Injective can facilitate fast cross-chain transactions across the largest layer one networks such as Ethereum and Cosmos Hub.

The Injective ecosystem is a network of decentralized applications that focus on providing the best in class user experience. By providing the unrestricted and unprecedented ability to access decentralized financial markets, products, services and toolings, the ecosystem strives to empower individuals with the ability to more efficiently allocate capital.

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 $40B in total trading volume, with over 800K 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 Cosmos ecosystem tokens.

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


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 Injective and Cosmos community, you will soon see many more Cosmos ecosystem tokens supported on the network as well as Cosmos chains accessing 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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