back12 Jun 20243 min read
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Pyth Price Feeds Launch on IOTA EVM

The deployment of Pyth Price Feeds on IOTA EVM today marks another significant milestone in the Pyth Network’s mission of bringing price data for real-world assets (RWAs) and crypto assets to the on-chain world. IOTA EVM is a fully EVM-compatible Layer 2 solution for the IOTA network, an open-source, scalable, fee-less, and permissionless distributed ledger for secure financial exchange.

Smart contract developers on IOTA EVM can permissionlessly access more than 500 real-time price feeds for cryptocurrencies, commodities, equities, ETFs, and foreign exchange pairs. The Pyth oracle sources price data from first-party institutional and decentralized players who actively participate in financial markets.

"The integration of Pyth's oracle services represents an important advancement for the IOTA ecosystem. We are delighted to bring in a source of precise, real-time data, which opens up a multitude of new possibilities for builders utilizing IOTA EVM. This integration enhances data reliability and security, equipping our developers with the critical tools needed to innovate and construct the digital economy of the future." — Susanne Krone, Head of Ecosystem at IOTA Foundation.

IOTA’s approach to distributed ledger technology enables secure exchange of on-chain value and data, without fees. IOTA EVM will build on IOTA’s features to offer tamper-proof data, fee-less transactions, and low resource requirements to enable new business models. A major focus for IOTA EVM is tokenization and RWAs.

The deployment of Pyth Price Feeds is critical for achieving this goal, as reliable sources of price data for real-world and traditional assets are necessary for securing the exchange and value transfer of RWAs.

A number of DeFi applications on IOTA EVM are already integrated with Pyth Price Feeds to this end:

Deepr Finance—A decentralized finance (DeFi) platform initially built on the Shimmer EVM and now available on IOTA EVM. Deepr enables users to lend and borrow digital assets without the need for intermediaries.

Virtue Money—A protocol enabling users to mint an over-collateralized stablecoin on IOTA EVM with 0% interest rates and multi-collateral assets support.


Founded in 2015, IOTA is a public goods infrastructure to bring trust in the digital world. Through IOTA, governments, organizations, and people are able to interact with each other in a secure, trusted, and verifiable way. IOTA is one of the most established Blockchain projects in the world and is primarily being driven by the non-profit IOTA Foundation headquartered in Berlin.

IOTA’s technology improves the Blockchain design to create a highly scalable distributed ledger called the “Tangle”. 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 fast transactions with finality within seconds. The IOTA token is the native currency on the IOTA network.


IOTA EVM is the first fully EVM-compatible smart contract chain on the IOTA network and enables scalable, fast, and secure smart contracts. IOTA EVM boasts:

  • Parallel Processing: The unique Layer 1 protocol architecture supports parallel transaction processing, enabling horizontal scalability and deployment across various chains. This decouples traditional chain anchoring and boosts processing capabilities.
  • Seamless Interoperability: Effortless deployment of Solidity smart contracts facilitates fluid interactions across both EVM and non-EVM chains.
  • Fairness and security: Implementing native randomness and resistance to Miner Extractable Value (MEV), IOTA EVM enhances fairness by preventing front-running and value extraction through predictable transaction ordering, aligning closely with regulatory demands for market integrity and equal access.

These features enhance the fully EVM-compatible smart contract environment, empowering the next generation of entrepreneurs and innovators to build a better, fairer, and more accessible ecosystem. They also facilitate the exploration of new frontiers where DeFi intersects with tangible real-world assets.


The Pyth Network is a first-party financial data oracle network that delivers low-latency price data for various assets to blockchains securely.

Pyth incentivizes some of the world’s largest exchanges, market makers, and trading firms to contribute their proprietary data to the network. Pyth aggregates their price data on-chain for smart contracts to use. Decentralized applications can request or pull Pyth price updates on-chain when needed.

In a little over a year, Pyth is already securing over $5B in TVL and is used by 350+ applications. Pyth supports over 500 real-time data feeds across crypto, equities, ETFs, FX pairs, and commodities, and has facilitated more than $300B in total trading volume across over 50 blockchain ecosystems.

For more information about Pyth, please visit the website and documentation.

What’s Next?

Pyth Network and IOTA are positioned to support smart contract developers in building the future of finance. You can explore the resources below to get started.

Developers can explore the price feeds available on the Pyth Network website and discover which data feeds are in the pipeline. If you would like to request a new price feed, please reach out to the community in Discord.


We want to hear your feedback. Join the Pyth Discord and Telegram, and follow Pyth on X and LinkedIn. You can also learn more about Pyth here.

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