back01 Feb 20243 min read
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Pyth Price Feeds Launch on LightLink Mainnet

“And then there was light”. Today, we are excited to unveil the mainnet deployment of Pyth Price Feeds on LightLink, an Ethereum Layer 2 blockchain that lets dApps and enterprises offer users instant, gasless transactions.

Starting today, smart contract developers in the LightLink ecosystem can permissionlessly access over 400 real-time price feeds across major asset classes to power their DeFi applications.

Additionally, builders have already started integrating with Pyth Entropy on testnet during the LightLink APAC Hackathon hosted by Encode. The grand winner of the hackathon was LightLink Roulette, a community-driven app enabling users to win prizes for picking the correct number—all powered by Pyth Entropy.

"Our mission is to seamlessly integrate millions into the digital economy through user-focused dApps and enterprise partnerships, making blockchain as intuitive and accessible as Web2, without the complexity of gas fees and protocols. We are honored to partner with Pyth Network to unlock gasless use cases for enterprises and builders across the globe.” — Roy Hui, Co-Founder and CEO of LightLink.


Random Numbers—Soon #PoweredByPyth

On-chain random number generation is critical for a variety of decentralized use cases which rely on random outcomes. Random number solutions help determine unpredictable outcomes for artistic or game-like initiatives such as NFTs, betting markets, and gaming. On-chain RNG even has practical uses in cryptography and decentralized governance.

The future deployment of Pyth Entropy in the LightLink ecosystem will enhance its capabilities across many Web3 verticals, including prediction markets, NFTs, SocialFi, and GameFi. A secure source of randomness, for example, can ensure a fair and truly randomized NFT drop with randomized attributes across all mints. Unpredictable outcomes are also key to supporting on-chain parimutuel markets and Web3 game mechanics like lotteries and mystery boxes.

The launch of Pyth Price Feeds and Benchmarks paves the way for high throughput DeFi capabilities for the LightLink ecosystem. Pyth Network offers a comprehensive catalog of over 400 real-time price feeds across cryptocurrencies, foreign exchange rates, commodities, ETFs, and equities. LightLink developers can freely integrate with any of these data feeds to secure their smart contract operations.

Pyth Price Feeds are built on an innovative pull oracle design which will empower LightLink users to request on-chain price updates from the Pythnet appchain only when needed. In addition, Pyth Price Feeds support a unique feature, confidence intervals, which indicate volatility and market dislocations in the form of a visual price band around the reported aggregate. This additional data point helps downstream protocols better protect their users and funds.


LightLink is an Ethereum Layer 2 blockchain that lets dApps and enterprises offer users instant, gasless transactions. Integrating optimistic rollups with its proprietary stack, LightLink potentially offers a transaction throughput more than 400 times Ethereum's, ensuring unmatched scalability and a streamlined user experience.

LightLink's novel Enterprise Mode enables businesses to operate gas-free, allowing users on their platforms to engage in a secure, user-friendly blockchain network without transaction fees, barriers to entry, or the need for any tokens. LightLink already powers over 25 partnerships, including Grapes and The Red Village, and is being integrated in Translucia, a $300M venture by T&B Media Global and MQDC.

LightLink's mission is to seamlessly integrate millions into the digital economy through user-focused dApps and enterprise partnerships, making blockchain as intuitive and accessible as Web2, without the complexity of gas fees and protocols.

To learn more, please visit LightLink website.

Pyth

The Pyth Network is a first-party financial oracle network designed to provide low-latency real-world data to multiple blockchains securely and transparently.

Pyth incentivizes some of the world’s largest market participants — exchanges, market makers, and trading firms — to contribute their data to the network. Pyth aggregates their data on-chain for smart contract applications to use. These protocols can pull Pyth prices on-chain when needed.

In less than a year, Pyth has secured more than $2.0B in total value. Pyth currently supports 400+ real-time price feeds across crypto, equities, ETF’s, FX rates, and commodities, and has facilitated more than $120B in total trading volume across over 50 blockchains.

For more information, please visit the documentation and website.


What’s Next?

We invite readers to check out the resources below to get started with Pyth. If you have any inquiries, please reach out.

You can find the full list of Pyth Price Feeds on our official website and explore which price feeds are in the pipeline. If you would like to request a new data feed, please let us know in the Discord.

If you are looking for a solution for on-chain random number generation, you can check out the Entropy documentation.

Resources


We can’t wait to hear what you think! You can join the Pyth Discord and Telegram, and follow us on X and LinkedIn.

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