We’re excited to announce that Pyth’s low-latency pull oracles are now available on Injective, a lightning fast blockchain optimized for building financial applications. Leading Injective application: Helix, a decentralized order book exchange for crypto spot and derivatives trading, is already #PoweredByPyth.
The deployment of Pyth data on the Injective chain is made possible thanks to many Injective contributors but also the greater community as the required governance vote passed with a 98% approval.
The Pyth Coswasm smart contract was audited by Zellic, a leading security and auditing company, and the full report is available here.
"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 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 Injective can permissionlessly access any of the Pyth’s 200+ price feeds for equities, commodities, foreign exchange pairs, and cryptocurrency.
The Pyth Price Feeds have already been integrated by Helix, a decentralized orderbook exchange for crypto spot and derivatives trading serving novice crypto traders, experienced traders, and trading institutions alike. By integrating with Pyth and its low-latency pull oracle, Helix can easily and efficiently calculate the hourly funding rate of their derivatives markets.
After a successful testnet integration and the release of the many yet to be seen markets on Cosmos like $SOL, $JPY or $XAU futures, Helix is now live on Injective mainnet and #PoweredByPyth!
For more information about using Pyth data on Cosmos, check out our documentation.
The Pyth Network is currently participating in the Injective Global Hackathon and has issued a $5K bounty to be #PoweredByPyth. For more information on the hackathon, check out our blog post.
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 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 $40B in total trading volume and received over 800K client downloads from passionate developers looking to use Pyth data.
Pyth currently supports 200+ real-time price feeds across crypto, equities, FX, and commodities.
You can learn more about Pyth from their website and 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 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
- Pyth Website
- Pyth Docs
- Pyth Best Practices
- Pyth On-Demand Update
- Pythnet
- Pyth on Cosmwasm
- 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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