NEW YORK–(BUSINESS WIRE)–Injective, the blockchain built for decentralized finance applications, today announced that Pyth has integrated with the Injective mainnet. Injective dApps can now access any of Pyth’s on-chain data for 200+ markets spanning equities, commodities, foreign exchange pairs and crypto.
Pyth, a first-party financial oracle network that publishes continuous real-world data on-chain, introduces an innovative low-latency pull oracle design. With this feature, dApps on Injective can easily access available prices on-chain whenever needed, making it possible for everyone in the blockchain environment to access real world asset data.
In less than a year, Pyth has secured more than $2B in total value with nearly a million client downloads. Some prominent data publishers to Pyth include the likes of Jane Street, CBOE, Hudson River Trading, DRW Cumberland, Binance, Virtu Financial, and more.
“We are thrilled to have Pyth bring novel asset data into the Injective universe,” said Eric Chen, co-founder and CEO of Injective Labs. “Now developers create markets with high fidelity on-chain data, bringing forth a new paradigm of cross-chain data composability.”
The integration is a first for the Cosmos IBC ecosystem as Injective will become the first IBC-enabled chain to aggregate Pyth data via Wormhole. This integration has already been utilized during the testnet phase by Helix, the premier exchange hub on Injective. By integrating with Pyth, Helix was able to list a number of novel real world asset (RWA) markets on-chain for the first time such as gold, Yen and Euro. Helix has processed over $9 Billion in volume to date which is by far the highest in the entire Cosmos derivatives market.
“Injective is one of the most successful blockchains within the Cosmos ecosystem to date, which is one of the many reasons why this integration is significant,” said Mike Cahill, a director of the Pyth Data Association. “We are excited to officially join the Cosmos ecosystem as we continue to provide developers with high-quality data and enable a revolution within DeFi.”
Injective has rapidly grown its network to date with a number of major integrations. In recent months, it also released Cascade, the first Solana SVM rollup while also seeing Tencent Cloud bring more tooling to builders on Injective. The Pyth integration marks the latest milestone in the Injective journey.
About Injective
Injective is a lightning fast interoperable layer one blockchain optimized for building the premier Web3 finance applications. Injective provides developers with powerful plug-and-play modules for creating unmatched dApps. INJ is the native token that powers Injective and its rapidly growing ecosystem. Injective is incubated by Binance and is backed by prominent investors such as Jump Crypto, Pantera and Mark Cuban.
About Pyth
The Pyth network is a first-party financial oracle network designed to publish continuous real-world data on-chain in a tamper-resistant, decentralized, and self-sustainable environment.
In less than a year, the network secured more than $2.0B in total value. Pyth has supported more than $40B in total trading volume, with over 800K client downloads from passionate developers looking to use Pyth data.
For more information about the Pyth network, please visit https://pyth.network.
Contacts
Pyth
Carissa Felger
Gasthalter & Co.
(212) 257-4170
Source: https://thenewscrypto.com/injective-integrates-pyth-launching-institutional-and-real-world-asset-markets/