Pyth Integration Brings 400+ Price Feeds To Hedera Ecosystem

Real-time financial oracle deployment marks key milestone in DeFi growth, maturation

We’re excited to share that Pyth Price Feeds are now available to all Hedera developers. DeFi devs now have permissionless access to 400+ financial data feeds to utilize in smart contract applications, empowering community builders to create the next generation of DLT-enhanced financial services. You can learn how to integrate Pyth on Hedera here.

“Public Oracle price feeds are a critical component for growth as lending is often seen as the crux of economic behavior,” said HBAR Foundation Director of Business Development, Grace Pfluger. “This infrastructure is a huge milestone to spur development of innovative financial instruments on Hedera and we are ecstatic to partner with Pyth not only for the incredible tech, but our alignment of a long-term strategic vision.”

Pyth is a first-party financial oracle network designed to provide low-latency real-world data to multiple blockchains securely and transparently – in simple terms, this means Hedera devs can now build DeFi applications that pull aggregated, verified, real-time price data, delivered on a sub-second timescale.  

From a high-level, this deployment marks a key milestone for Hedera’s DeFi ecosystem because it enables Hedera users and developers to benefit from continual access to the latest price updates from 400 price feeds across digital assets, foreign exchange pairs, commodities, equities, and ETFs.

Why is that important?

We have all seen the unfortunate events in DeFi with liquidation events on lending platforms etc. We are determined to provide accurate data for our ecosystem to offer safe and reliable infrastructure for optimal user experience. ‍

Integrating Pyth’s innovative tech stack is a direct countermeasure to bad data. It helps to ensure that Hedera network DeFi apps are built on sound foundations that everyone can trust, thereby laying the groundwork for discovery of new innovation pathways.   

Specifically, Pyth is the only financial data oracle offering a confidence interval measure to indicate volatility and divergences across different markets. This supplementary real-time data can better inform lending and derivative protocols about unusual market events to keep users and funds safe.‍

Ultimately, apps powered by Pyth have the benefit of being insulated by an intrinsic trust layer stemming from Price Feed’s unique oracle architecture that generates the low-latency, high-resolution data needed to ensure accurate trades and settlement.

For us, cultivating the Hedera network’s DeFi ecosystem was, is, and always will be a priority and we believe integrating Pyth can catalyze sector growth and utility by serving as a beacon for fellow ‘degens’ and devs who’re passionate about defining the future of finance.     

Developers can learn how to integrate Pyth on Hedera here.

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ABOUT PYTH

The Pyth Network is a specialized oracle solution for latency-sensitive financial data that is typically kept behind the "walled gardens" of centralized institutions.The Pyth network is focused on finding a new and inexpensive way to bring this unique data on-chain and aggregating it securely. For more information about the Pyth network, please visit pyth.network.

ABOUT THE HBAR FOUNDATION

The HBAR Foundation supports the creation of Web3 communities built on the Hedera network, by empowering and funding the builders developing these communities. The Foundation's six funds - focused on the Crypto Economy, Consumer Engagement, Sustainability, Fintech, Privacy, and Female Founders - each support communities within those areas, and the interconnectedness enables applications to participate as part of a larger ecosystem.

The collective power of these funds enables entrepreneurs, developers, and enterprises of all sizes to tackle some of the world's largest problems, and create and control their own economies, all built on the Hedera public network. Whether you're building something new or migrating an existing EVM-based application and community, the HBAR Foundation is here to support you. For additional information, please visit https://hbarfoundation.org.