TL;DR
- Pyth has launched its Price Feeds on the Morph testnet. It promises to transform access to real-time price data for smart contract developers.
- Pyth Network is a decentralized oracle network. It offers over 500 real-time price feeds for a wide range of digital and traditional assets.
- Morph is a scalable and decentralized solution for Ethereum, combining optimistic rollups and ZK-proofs to efficiently verify state, facilitating the creation of more sophisticated and efficient DeFi applications.
The launch of Pyth Price Feeds on the Morph testnet is a reality. This collaboration between Pyth Network and Morph, an Ethereum Layer 2 platform, aims to revolutionize how smart contract developers access real-time price data.
Pyth Network is a decentralized oracle network that provides high-frequency price data to blockchains securely. Now, with its integration into the Morph testnet, developers have access to over 500 real-time price feeds, covering a wide range of digital and traditional asset classes.
Morph, on the other hand, is a scalable and decentralized solution for Ethereum, using a combination of optimistic rollups and ZK-proofs to efficiently verify state. Its innovative approach includes the introduction of a sequence network to promote efficiency and reduce operational overhead.
With this partnership, new opportunities will open up for the creation of cutting-edge DeFi applications. By offering reliable data and scalable infrastructure, it will enable developers to create more sophisticated and efficient financial products.
Pyth Bets on Morph to Transform DeFi
A crucial point is the implementation of Pyth’s pull oracle on Morph. This allows DeFi protocols on Morph to request price updates from the Pythnet appchain as needed. The gas efficiency of this pull architecture ensures that Morph users always have access to updated and high-frequency market data.
Thanks to the support of major investors such as Pantera Capital, Foresight Ventures, Spartan Group, and Symbolic Capital, Morph is well positioned to lead the DeFi industry and stay at the forefront of innovation.
Pyth Price Feeds are a necessary tool for the evolutionary leap of decentralized finance. Thanks to the new technologies provided to developers. Along with the data, they will empower the creation of more advanced and efficient DeFi applications.
