Enabling Price Feeds for Smart Contracts
We are pleased to announce that Pyth Network has deployed its oracles contracts on the ShimmerEVM testnet! Oracles are a key piece of infrastructure in distributed ledger technology (DLT) that helps bring trusted real-world (or “off-chain”) data onto the network for use in smart contracts.
The Pyth Network is a first-party financial oracle network designed to provide low-latency real-world data to multiple blockchains in a secure and transparent manner. Pyth currently supports over 200 price feeds across crypto, equities, FX, and commodities, with multiple price updates per second. Upcoming feeds include additional ERC tokens.
Through this integration, the Shimmer ecosystem will have access to price feeds that are necessary for on-chain lending protocols, derivatives exchanges, and more. Ecosystem projects can reference the price feeds at any time and “push” them on-chain for use in smart contracts.
This is a major milestone in the growth of Shimmer and we are excited for builders and developers to leverage Pyth to build novel smart contract infrastructure and applications.