Pyth Network, a renowned oracle network specializing in first-party financial data, has recently announced a new partnership with Fuel Network. As part of this collaboration, the platform has introduced its Price Feeds on the testnet of Fuel Network to support developers. To share more information about this exciting development, the platform has released an exclusive blog post on its official website.
Pyth Unveils Price Feeds on Fuel Testnet in Latest Partnership
Developers can now access the Pyth Price Feeds on the testnet of Fuel Network, which focuses on Ethereum rollups and assists developers in building decentralized economies. The Pyth Price Feeds aim to empower DeFi builders who are working on the next generation of on-chain financial services. This collaboration allows smart contract developer teams like SPARK to access over five hundred price feeds, covering equities, foreign exchange pairs, commodities, exchange-traded funds, and crypto assets.
Fuel serves as an operating system specifically designed for Ethereum rollups, providing developers with the tools to create decentralized economies. Additionally, Fuel introduces a unique VM that offers interoperability, customizability, and parallelization for efficient scaling.
Enhancing User and Developer Experience
In order to support the latest services and expand their user base, blockchain entities require scalable infrastructure. The initiative by Pyth Network allows Fuel-based DeFi protocols to request on-chain price updates without permission. The gas efficiency of the pull oracle ensures that users 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 operates as a super app within the DeFi sector, offering a range of integrated products including borrowing, lending, order book, and perpetual contracts.
Fuel provides an exceptional user experience with features such as rollup sustainability, interoperability, and performance. Operating under FuelVM, it aims to enhance the capabilities of the Ethereum ecosystem and supports local account abstraction and multiple signature schemes.
Blockchain-based wallets can easily connect to the network, thanks to Fuel’s support. On the other hand, Pyth Network provides updated price data to blockchains securely, benefiting some of the world’s largest trading firms, market makers, and exchanges.
