Pyth Network, a renowned oracle network specializing in 1st-party financial data, has recently forged a new alliance with Fuel Network. This partnership has led to the launch of Pyth’s Price Feeds on the testnet of Fuel Network, aiming to support developers in their projects. To shed light on this exciting development, Pyth Network has released an informative blog post on its official website.
In its latest collaboration, Pyth has introduced its Price Feeds on the testnet of Fuel Network, enabling developers to access valuable data. Focused on Ethereum rollups and facilitating the creation of decentralized economies, these Price Feeds are designed to empower DeFi builders working on innovative on-chain financial services. Notably, popular smart contract developers like SPARK can now access over five hundred price feeds covering equities, forex pairs, commodities, ETFs, and cryptocurrencies.
Fuel Network serves as an operating system specialized in Ethereum rollups, offering developers the tools to build decentralized economies. With its unique VM providing interoperability, customizability, and parallelization for efficient scaling, Fuel Network promises an enhanced user experience for both developers and users.
Recognizing the importance of scalable infrastructure and growing user bases in the blockchain industry, Pyth Network’s collaboration with Fuel allows DeFi protocols on Fuel to seamlessly access on-chain price updates. The gas efficiency of the pull oracle ensures that users within Fuel’s ecosystem benefit from consistent access to up-to-date market data and prices. Pyth has already supported the initial perpetual protocol on Fuel, while SPARK, a DeFi super app, revolutionizes financial services with its suite of integrated products including borrowing, lending, order books, and perpetual contracts.
Fuel Network sets itself apart with its focus on rollup sustainability, interoperability, and performance, operating under FuelVM to expand the capabilities of the Ethereum ecosystem. With features like local account abstraction and support for multiple signature schemes, Fuel enables blockchain-based wallets to connect seamlessly to the network. On the other hand, Pyth Network provides real-time price data to blockchains securely, benefiting some of the world’s largest trading firms, market makers, and exchanges.