The feature enables Injective-based dApps to access available prices on-chain whenever needed.
Injective – a layer 1 blockchain – announced the integration of Pyth with the Injective mainnet. The move should allow decentralized applications (dApps) to access any of Pyth’s on-chain data for hundreds of markets covering equities, commodities, and foreign exchange pairs, in addition to crypto.
Injective Pyth Integration
The testnet phase by Helix has already utilized the Pyth integration, which enabled the Injective-based exchange hub to list several novel real-world assets (RWA) markets on-chain for the first time, such as gold, Yen, and Euro. As a result, Helix processed more than $9 billion in volume to date – the highest in the entire Cosmos derivatives market.
Injective Labs co-founder and CEO Eric Chen commented,
“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.”
Pyth is essentially a first-party financial oracle network that is tasked with publishing continuous real-world data on-chain, introducing an innovative low-latency pull oracle design. Binance, CBOE, Jane Street, Hudson River Trading, DRW Cumberland, and Virtu Financial, are some of the prominent data publishers to Pyth.