TL;DR
- Integration of Pyth Price Feeds into Injective’s inEVM platform.
- Access to 450+ real-time price feeds for smart contract developers.
- inEVM mainnet deployment in April 2023 and its crucial role in the expansion of the DeFi ecosystem.
The integration of Pyth Price Feeds into Injective‘s in EVM platform represents a significant milestone in the development of the decentralized finance (DeFi) ecosystem.
With this implementation, smart contract developers now have access to over 450 real-time price feeds spanning a wide range of asset classes, from cryptocurrencies to commodities, foreign currency pairs, stocks and exchange-traded funds. (ETFs).
Last week, @Injective launched inEVM on mainnet, the first rollup designed to supercharge concurrent VM development.
Upon launch, 450+ Pyth Price Feeds also went live for developers to tap into and secure their smart contracts 🔮
Learn more about our deployment below:
ℹ️ About… pic.twitter.com/e5DY3YBz0J
— Pyth Network 🔮 (@PythNetwork) March 14, 2024
These Pyth Price Feeds are already being used by several decentralized applications (dApps) that are launching on Injective’s inEVM mainnet, underscoring their importance in creating innovative financial applications.
Eric Chen, CEO and co-founder of Injective Labs, has highlighted the crucial role of Pyth Price Feeds in the growth of the inEVM ecosystem and in the ability of Ethereum developers to leverage true composability through Solana and Cosmos.
The specialized design of the Pyth Network pull oracle allows smart contract applications to request price updates from the Pythnet application chain on demand.
This architecture ensures that users have access to the most up-to-date price data, essential for applications such as perpetual trading, derivatives, lending, and stablecoin protocols.
Injective High Frequency Pricing Further Improves Reliability and Efficiency of DeFi Applications
Injective itself is a layer one interoperable blockchain designed to build Web3 financial applications.
With powerful, plug-and-play modules, and the native INJ asset, Injective offers developers a comprehensive ecosystem backed by prominent investors such as Binance, Jump Crypto, Pantera, and Mark Cuban.
InEVM, developed through a collaboration between Injective and Caldera, is the first Ethereum Virtual Machine capable of achieving true composability through Cosmos and Solana.
This network expansion gives Ethereum developers unprecedented access to Injective’s global network and user base, opening new opportunities for protocol expansion and innovation.
Pyth Network, as a first-party financial oracle network, encourages major exchanges, market makers and trading firms to contribute proprietary data to the network.
With over $2.0 billion secured in total value and support for over $3.0 billion, Pyth has become a pillar of the DeFi ecosystem, facilitating over $120 billion in total trading volume across over 50 blockchain ecosystems.
