back16 Jul 20242 min read
blog post image

Starknet Selects Pyth Network as Oracle Provider

After a thorough assessment of a number of different infrastructure solutions, Pyth's Network’s price feed data was chosen to supercharge the developer experience for builders in the Starknet ecosystem. Starknet joins a rapidly growing list of over 60 blockchains using Pyth to give applications access to reliable, low-latency data directly from financial institutions.

Starting today, Starknet developers and community members can already access over 550 real-time price feeds for cryptocurrencies, commodities, foreign exchange pairs, and even equities and exchange-traded funds thanks to Pyth.


Pyth Network and Starknet

Starknet is the secure scaling technology bringing Ethereum’s benefits to the world. By validating off-chain transactions with advanced math and cryptography, they overcome Ethereum’s scalability limitations and offer enhanced user experiences. Starknet is home to the fastest-growing layer 2 developer community due to its novel approach to scaling Ethereum and making it economically feasible to build even the most complex dApps.

Because of Starknet’s scaling capabilities, developers need infrastructure solutions that can scale alongside them. To this end, the deployment of the Pyth Network pull oracle enables DeFi protocols on Starknet to permissionlessly request or pull price updates on-chain and on demand. The gas efficiency of the pull oracle ensures that downstream users in the ecosystem always benefit from continual access to high-frequency market data and the most recently updated price.

“The Pyth Network integration offers developers within the Starknet ecosystem access to real-time price feed data for over 500 assets, all of which are available today and sourced directly from the world's largest financial institutions. Additionally, through their innovative pull oracle model, applications are able to reduce costs and improve accuracy by requesting data exactly where and when they need it.” - Diego Oliva, Starknet Foundation CEO

Pyth empowers applications on Starknet with cost-effective and accurate data that updates precisely where and when they need it to.

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 $8.0B. Pyth supports over 550 real-time data feeds across crypto, equities, ETFs, FX pairs, and commodities, and has facilitated more than $600B in total trading volume across over 65 blockchain ecosystems.

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


What’s Next?

Check out the resources below to get started. You can find the price feeds available on the Pyth Network website and discover which price feeds are in the pipeline. If you would like to request a new price feed, please reach out in the Discord.

Resources


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.

Stay Updated with Pyth

Stay informed about Pyth network's development and upcoming events!

Recommended For You

all posts