back03 May 20234 min read
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Pyth Launches Price Oracles on Sui

We’re delighted to announce that Pyth’s low-latency pull oracles are now available on Sui, a Layer 1 blockchain designed to make digital asset ownership fast, private, secure, and accessible to everyone!

Developers on Sui can now access Pyth’s 200+ price feeds for equities, commodities, foreign exchange pairs, and digital assets. Join the Sui DeFi ecosystem and become #PoweredByPyth today!

"We are excited to be see the Pyth Network expanding to the Sui blockchain”, said Mike Cahill, a Director of the Pyth Data Association. “Sui's focus on providing secure, transparent, and scalable infrastructure for decentralized finance applications aligns perfectly with Pyth's mission to enable real-time, trusted market data for DeFi participants.”


Pyth on Sui

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.

As a result, builders on Sui will have permissionless access to real-time prices from Pyth’s catalog of 200+ price feeds across major asset classes including US equities, metals, forex, and of course, cryptocurrencies.

We’re excited to support a plethora of Sui applications, including:

  • ABEx, a revolutionary on-chain derivative protocol built on Sui. Thanks to Pyth’s low-lantecy pull oracles, ABEx will benefit from the freshest price available to fulfill users trade at no slippage.
  • Aries Markets, a decentralized exchange built on Move aiming to aggregate and simplify the user experience across all of DeFi. Initially launched on Aptos, Aries will expand its #PoweredByPyth services to Sui.
  • Aftermath, an all-in-one platform for trading, investing, and earning yield that is fast, inexpensive, and fully transparent. Aftermath’s Perpetuals, Money-Market module and Options platform will be #PoweredByPyth.
  • Bucket Protocol, a protocol enabling users to take 0% interest loans and mint a native stablecoin on the Sui Network thanks to Pyth data.
  • Fewcha, a native Move-based wallet and portfolio management protocol, is #PoweredByPyth to display the latest available to its users.
  • Interest Protocol, a DeFi protocol that allows trading, farming, and borrowing. Pyth data allows the platform to value its supported assets.
  • Kriya is building institutional-grade infra for on-chain trading, products include, a spot AMM with a native bridge and an orderbook-based perp and options DEX. Margin engine #PoweredByPyth
  • Navi Protocol, a decentralized liquidity protocol on Suim has decided to become #PoweredByPyth. Navi enables users to lend and borrow cryptocurrency assets without intermediaries, using a shared liquidity pool system.
  • Turbos, a non-custodial DEX and perpetual trading platform. Accurate price quotation is supported by Pyth Price Feeds for seamless perpetual trading experience.
  • Typus Finance, real yield infrastructure on Sui that combines swap, lending, and derivatives protocols to create an options marketplace for long-tail assets. All of Typus’ operations are #PoweredByPyth.
  • Scallop, a money market protocol on Sui that emphasizes institutional grade, high composability, and high security. Pyth data allows Scallop to value assets and user positions.

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


Sui

Sui is a smart contract platform maintained by a permissionless set of validators that play a role similar to validators or miners in other blockchain systems.

Sui offers scalability and unprecedented low-latency for simple use cases. Sui makes most transactions processable in parallel. This better utilizes processing resources and offers the option to increase throughput by adding more resources. Sui forgoes consensus to instead use simpler and lower-latency primitives for simple use cases, such as payment transactions and assets transfer. This is unprecedented in the blockchain world and enables a number of new latency-sensitive distributed applications ranging from gaming to retail payment at physical points of sale.

Sui is written in Rust and supports smart contracts written in Sui Move—a powerful asset-centric adaptation of Move for the Sui blockchain—to define assets that may have an owner. Sui Move programs define operations on these assets, including: custom rules for their creation, the transfer of these assets to new owners, and operations that mutate assets. To learn about the differences between core Move and Sui move, see How Sui Move differs from Core Move.

For more information, please visit the Sui 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 $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 Sui community, you will soon see many more tokens of the Sui ecosystem supported on the network as well as Sui 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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