Pyth Network, a well-known oracle network offering 1st-party financial data, has recently announced a new partnership with Fuel Network. In a joint effort, the platform has introduced its Price Feeds on the testnet of Fuel Network to support developers. To share more information about this exciting collaboration, the platform has released an exclusive blog post on its official website.
Pyth Introduces Price Feeds on Fuel Testnet in Latest Partnership
Developers can now access the Pyth Price Feeds on the testnet of Fuel Network, focusing on Ethereum rollups and aiding developers in building decentralized economies. The Pyth Price Feeds aim to empower DeFi builders working on the next generation of on-chain financial services. This enables smart contract developer teams like SPARK to access over five hundred price feeds, covering equities, forex pairs, commodities, ETFs, and crypto assets.
Fuel acts as an operating system specialized in Ethereum rollups, allowing developers to create decentralized economies. Moreover, Fuel introduces a unique VM offering interoperability, customizability, and parallelization for efficient scaling.
Enhancing User and Developer Experience
To meet the demands of blockchain entities for scalable infrastructure supporting new services and a growing user base, Pyth Network’s initiative enables Fuel-based DeFi protocols to request on-chain price updates without permission. The gas-efficient pull oracle ensures downstream consumers within the Fuel ecosystem benefit from consistent access to updated market data and prices.
Pyth has already powered the initial perpetual protocol on Fuel, while SPARK acts as a super app in the DeFi space, revolutionizing financial services through a suite of integrated products including borrowing, lending, order books, and perpetual contracts.
Fuel offers an exceptional user experience with features like rollup sustainability, interoperability, and performance under the FuelVM, enhancing the capabilities of the Ethereum ecosystem. Fuel also supports local account abstraction and multiple signature schemes, enabling blockchain-based wallets to connect to the network.
On the other hand, Pyth Network provides recently updated price data to blockchains securely, benefiting some of the world’s largest trading firms, market makers, and exchanges.