Today marks the launch of Pyth Price Feeds on Morph testnet, an innovative Layer 2 seeking to redefine the Ethereum scaling experience by combining the strengths of ZK technology and optimistic rollups. Smart contract developers joining the consumer blockchain revolution can now tap into over 500 real-time price feeds across traditional and digital asset classes.
This partnership oversees the deployment of the Pyth oracle on Morph to secure its decentralized finance ecosystem. This blog post offers a deep dive into this strategic partnership below.
"The partnership between Pyth Network and Morph opens doors for developers to create cutting-edge DeFi applications that leverage reliable data and scalable infrastructure, driving innovation in the decentralized finance space." — Cecilia, Co-Founder and CEO of Morph
Pyth Data and Morph
Morph stands behind a consumer blockchain revolution—focused on bringing a secure, decentralized, cost-effective, and high-performant EVM-equivalent rollup for Web3 builders.
Morph focuses on scalability and decentralization. The Layer 2 chain introduces a sequence network to promote efficiency, reduce operational overhead, and ensure true decentralization of the network. Morph combines optimistic rollups with its innovative Responsive Validity Proof and ZK-proofs to verify state.
The deployment of the Pyth pull oracle will empower DeFi protocols on Morph to permissionlessly request or “pull” price updates from the Pythnet appchain on demand. The gas efficiency of Pyth’s innovative pull architecture ensures that downstream users in the Morph ecosystem always benefit from continual access to high-frequency market data and the most recently updated price.
For more information about Morph, please visit their website or documentation. Pyth is currently available on Morph using the Pyth Stable price sources accessible through Hermes Stable. You can find the testnet profile and contract address here.
Morph
Morph is a fully permissionless EVM L2 that uses a combination of optimistic and zero knowledge rollup technology to enable limitless possibilities in finance, gaming, social media, and entertainment.
Morph is the first Layer 2 on Ethereum to launch with a decentralized sequencer, aligning it with several core principles of Web3 — decentralization, censorship resistance, and security.
The blockchain was built with mainstream audiences like gamers and social media users in mind, making it a user-friendly option for developers who require a chain to build these types of apps on.
Pyth
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 less than a year, the network has secured more than $2.0B in total value and now supports over $5.0B. 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?
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 Morph community, you will soon see many more tokens supported on the network as well as Morph applications becoming #PoweredByPyth. You can find the price feeds available 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 EVM
- Pyth Price Feeds IDs
- Pyth for Off-Chain Use
- Pyth Discord
- Pyth Telegram
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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