As part of a greater collaboration with the WEMIX3.0 Foundation, we’re delighted to reveal that the Pyth Network low-latency pull oracle is now available on WEMIX, a high-performance EVM-compatible open-source protocol. The Pyth Network has also launched its WEMIX/USD price feed, which is available WEMIX 3.0 and 30 other blockchains.
The WEMIX 3.0 Foundation has deployed and will operate its own price scheduler to regularly update prices on-chain. This deployment enables WEMIX dApps like Nile and WemixFi to freely and seamlessly use Pyth Price Feeds.
Pyth on WEMIX3.0
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 WEMIX can permissionlessly access any of Pyth’s 300+ price feeds for equities, ETFs, commodities, foreign exchange pairs, and cryptocurrencies.
However, to facilitate and further bootstrap its growing ecosystem, the WEMIX 3.0 Foundation has deployed and now operates its own price scheduler!
WemixFi is the first decentralized exchange on the WEMIX3.0 mainnet. WEMIX.Fi is a fully on-chain DeFi platform supporting storage, exchange, borrowing, settlement, and investment of crypto-assets. WemixFi leverages the Pyth’s low-latency oracles to value all supported assets and ensure that users’ positions as well as the greater protocol remain healthy. WemixFi currently secures north of $90M in value, among over 50,000 users.
Nile and specifically NFTFi is a decentralized protocol that allows you to transform your NFTs into financial products; in other words, users on NFTFi can borrow against their NFTs. Nile is #PoweredByPyth (and specifically using the WEMIX/USD price feed) to ensure that loans and the overall protocol remain well-collateralized and operate smoothly.
For more information about using Pyth data on WEMIX, check out our documentation.
WEMIX3.0
WEMIX3.0 is a high-performance EVM-compatible open source protocol powered by SPoA (Stake-based Proof of Authority) consensus algorithm which is secured by 40 decentralized authority nodes operated by highly-qualified global partners as well as on-chain community DAO (Decentralized Autonomous Organization). It is designed to be a robust and efficient platform-driven & service-oriented public blockchain home to innovative projects and applications built by community members and available to the world.
For more information on WEMIX3.0, please visit their website.
Pyth Network
The Pyth Network is the largest first-party financial oracle network delivering real-time market data to over 30 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 more than $70B in trading volume and received over 1M client downloads from passionate developers. Pyth supports 300+ low-latency price feeds across digital assets, equities, ETFs, forex pairs, and commodities. You can learn more about Pyth from the website or 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 WEMIX community, you will soon see many more tokens supported on the network as well as WEMIX 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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