Further strengthening our relationship with Sky Mavis, we’re delighted to reveal that the Pyth Network low-latency pull oracle is now available on the Ronin chain. Ronin is an EVM blockchain specifically forged for gaming that optimizes for near-instant transactions and negligible fees that enable millions of in-game transactions to occur seamlessly, making it the leading choice for Web3 games.
The Pyth Network has also launched its RON/USD price feed, which is available on the Ronin chain as well as more than 35 other blockchains.
Sky Mavis already operates its own price scheduler. This regularly updates the price feeds on-chain. The deployment enables developers and dApps like Metalend and the Ronin Name Service to freely and seamlessly use the Pyth Price Feeds to power their protocols.
“We are thrilled to be working with the Pyth Data Association for the integration of Pyth Network on Ronin. Pyth's low-latency pull oracle design enables developers on Ronin to access reliable price feeds at affordable costs. Check out Pyth price feeds as they power the pricing mechanism for Ronin Name Service upcoming in November!”, said Bailey Tan, Director of Ecosystem Strategy.
“Axie Infinity on Ronin may have been the closest thing we’ve seen to Web3 mass adoption. We’re excited to see the Pyth oracle going live on Ronin”, said Marc Tillement, Director, Pyth Data Association. “Permissionless access to 350 Pyth Price Feeds will play a key role for next-generation developers building player-owned economies and new and innovative DeFi applications.”
Pyth Network on Ronin
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 Ronin have permissionless access to any of Pyth’s 350+ price feeds for equities, ETFs, commodities, foreign exchange pairs, and cryptocurrencies.
However, to facilitate and further bootstrap its growing ecosystem, Sky Mavis has deployed and now operates its own price scheduler!
The first application to become #PoweredByPyth is the Ronin Name Service (RNS), which integrates the Pyth RON/USD price feed as its trusted price oracle. This integration empowers RNS contracts with dependable exchange rates, ensuring that RNS name registrations and renewals are consistently priced in USD, but with the purchase of those names still being paid for in RON.
Additionally, another application that will benefit is Metalend, an algorithmic money-market protocol enabling users to earn a yield on their assets while accessing extra liquidity if needed. Thanks to the Pyth Price Feeds, Metalend will be able to continuously value the assets supported and the various positions on the protocol to ensure it remains over-collateralized and healthy.
For more information about using Pyth data on Ronin, check out our documentation.
Ronin
Ronin is an EVM blockchain specifically forged for gaming. Launched by Sky Mavis, the creator of Web3’s breakout title Axie Infinity which has generated over $1.3B in revenue, Ronin is the only blockchain proven to scale a single game to accommodate millions of daily active users and has processed over $4B in NFT volumes. Ronin optimizes for near-instant transactions and negligible fees that enable millions of in-game transactions to occur seamlessly, making it the leading choice for Web3 games.
To learn more about Ronin, please visit their documentation.
Sky Mavis
Sky Mavis is a technology-focused game studio based in Singapore. It creates virtual worlds with player-owned economies, marketplaces for trustless trading of unique digital assets, and infrastructure that enables its products to reach millions of players worldwide. Sky Mavis' flagship product is Axie Infinity, the #1 game on Ethereum by daily, weekly, and monthly active players. By using blockchain technology and incentive design, Axie Infinity has transcended traditional games and evolved into a complex digital nation.
Learn more about Sky Mavis on their website.
Pyth Network
The Pyth Network is the largest first-party financial oracle network delivering real-time market data to 40 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 Ronin community, you will soon see many more tokens supported on the network as well as Ronin 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
- 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 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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