back10 Oct 20234 min read
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Pyth Price Feeds are Live on ShimmerEVM

We’re excited to announce that Pyth’s low-latency pull oracles are now available on ShimmerEVM mainnet. The ShimmerEVM chain is the first fully EVM-compatible smart contract chain on the Shimmer network that enables scalable, fast and secure processing of smart contracts.

Developers on ShimmerEVM can now access Pyth’s 350+ price feeds for equities, commodities, foreign exchange pairs, and cryptocurrency. The Pyth Network has also launched its SMR/USD price feed, which is available on ShimmerEVM and more than 35 other blockchains.


Pyth on ShimmerEVM

The Pyth Network introduced 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. Developers on ShimmerEVM have permissionless access to any of Pyth’s 350+ price feeds for equities, ETFs, commodities, foreign exchange pairs, and cryptocurrencies.

Deepr Finance is a protocol that enables users to lend and borrow digital assets without the need for intermediaries. Deepr Finance has integrated Pyth’s low-latency pull oracles to value assets and ensures that user positions and the overall protocol remain healthy.

Virtue Money is a decentralized borrowing protocol that allows you to draw vUSD interest-free loans against SMR. Thanks to Pyth Price Feeds and the Pyth SMR/USD Price Feed, Virtue can continuously value user positions and health and trigger liquidations on loans when necessary.

LendeXe is a decentralized liquidity market protocol that provides two types of loans and a native stablecoin. #PoweredByPyth, LendeXe will be able to ensure that all users’ positions remain healthy.

Pyth Price Feeds are Live on ShimmerEVM

IOTA

The IOTA Foundation is a global non-profit foundation that develops next-generation decentralized technologies for a new digital economy in a connected world. It redesigns the way people and devices connect to share information and value, removing middlemen. The Foundation collaborates with a global ecosystem and partners to research and develop technologies that deliver sustainable, real-world impact. Together, they are shaping a new digital economy, removing unnecessary friction and unlocking human potential.

At the heart of the Foundation's mission is the Tangle, its open, feeless, and highly scalable distributed ledger. Designed to support frictionless value and data transfer, the Tangle is a DLT infrastructure for Web3 applications and digital economies. Unlike blockchain alternatives, the Tangle allows transactions to be added in parallel; it also boasts low resource requirements, as well as zero-fee and fast transactions with finality within seconds. The IOTA token is the native currency on the IOTA network. It is used to transfer value and data and enable feeless micro-payments.

Shimmer

Shimmer is the official L1 staging and validation network of the IOTA distributed ledger technology (DLT). It is a rapid innovation playground with short development cycles, allowing developers to build applications and use features that are not yet available on the IOTA mainnet.

Similar to the IOTA network, Shimmer is built on a UTXO-based parallelized, directed acyclic graph (DAG), guaranteeing higher scalability than conventional Blockchains, and it provides the core building blocks for a scalable, modular multi-chain architecture.

Shimmer ensures interoperability and composability of L2 smart contract chains and is capable of connecting any type or flavor of L2 smart contract chain anchored to it. With its unique tokenization framework, Shimmer will become a multi-asset ledger for minting and transfer of native assets without middlemen or crippling gas fees.

$SMR is the native token of the Shimmer network and serves as the network’s economic backbone, facilitating value transactions and interactions within the Shimmer ecosystem. Users of Shimmer use the $SMR token to launch new DeFi applications, DEXs, NFTs, DAOs, and other dApps.

Pyth Network

The Pyth Network is the largest first-party financial oracle network delivering real-time market data to over 35 blockchains securely and transparently.

The network comprises some of the world’s largest exchanges, market makers, and financial services providers publishing their proprietary price data on-chain for aggregation and distribution to smart contract applications.

In less than a year, the network secured more than $2.0B in total value. Pyth has facilitated over $70B in trading volume and received over 1M client downloads from passionate developers. Pyth supports 350+ low-latency price feeds across digital assets, equities, ETFs, forex pairs, and commodities. You can learn more about Pyth from the website or documentation.

Pyth Data Association

The Pyth Data Association is a Swiss association founded by Pyth Network participants to advance the development of the network. The Pyth Data Association is a contributor to the Pyth Network and helps facilitate protocol maintenance, ecosystem grants, and ecosystem development.

To learn more about the association, please visit this website.


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 Shimmer community, you will soon see many more tokens supported on the network as well as Shimmer applications becoming #PoweredByPyth. 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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