Hedera

Pyth Network

In an exciting development for the DeFi community, Pyth Network has announced the full integration of Pyth Price Feeds into the <a href="https://hedera.com/" rel="noopener noreferrer nofollow">Hedera</a> public network. This collaboration introduces over 400 Pyth Price Feeds, providing developers on Hedera with permissionless access to real-time price data crucial for securing their decentralized finance (DeFi) applications.The Hedera network, renowned for its open-source, decentralized nature, is governed by a consortium of leading global organizations. This partnership signifies a significant leap forward, not only for Hedera but for the broader DeFi ecosystem, enabling the creation and execution of more secure and efficient financial instruments.Grace Pfluger, the HBAR Foundation’s Director of Business Development, said, “Public oracle price feeds are a critical component for growth as lending is often seen as the crux of economic behavior. This infrastructure is a huge milestone to spur the 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.”Marc Tillement, Director at Pyth Data Association, also shared his enthusiasm, noting, “A sustainable and enterprise-grade network designed to support a decentralized economy will require continuous access to low-latency and highly reliable price data. In this spirit, we’re thrilled for the deployment of Pyth Price Feeds on Hedera and what this core infrastructure will unlock for its builders.”<h2 id="header-0">Revolutionizing Hedera’s DeFi Ecosystem</h2>Pyth Network’s integration brings an extensive suite of over <a href="https://pyth.network/price-feeds?ref&#61;pyth-network.ghost.io" rel="noopener noreferrer nofollow">400 ultra-low-latency price feeds</a> across various asset classes such as cryptocurrencies, foreign exchange, commodities, equities, and ETFs. These feeds will enable Hedera developers to enhance their smart contract protocols and decentralized finance applications, ensuring accurate on-chain transactions and settlements.The innovative Pull Oracle design of Pyth Price Feeds allows for continual access to the latest price updates, critical for maintaining the accuracy and security of on-chain financial activities. Additionally, the feeds include a confidence interval feature, providing essential information on market volatility and dislocations to safeguard lending protocols and trading platforms.HLiquity, a decentralized borrowing protocol on Hedera, has become the first application to integrate Pyth Data. This integration allows HLiquity to offer interest-free loans against HBAR, with loans paid out in HCHF, a CHF-pegged stable on-chain currency, while ensuring the protocol remains over-collateralized.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/6cdbb91d725e49a19ec17d4c9a4bb4b3.png" />Reto Habegger, COO at Swisscoast, highlighted the importance of the partnership, stating, “This partnership with Pyth Network enhances HLiquity on Hedera, offering real-time, reliable data for secure and efficient decentralized borrowing. This collaboration is a leap forward in our mission to deliver transparent and accessible financial services.”<h2 id="header-1">Supporting Growth and Innovation</h2>The HBAR Foundation is at the forefront of supporting the creation of Web3 communities on the Hedera network. By empowering and funding builders, the Foundation fosters the development of diverse communities within areas such as the Crypto Economy, Consumer Engagement, Sustainability, Fintech, Privacy, and support for Female Founders.This collective effort enables entrepreneurs, developers, and enterprises of all sizes to address global challenges and create their own economies on the Hedera public network, whether they are building new applications or migrating existing EVM-based applications.The <a href="https://pyth.network/?ref&#61;pyth-network.ghost.io" rel="noopener noreferrer nofollow">Pyth Network</a> is a first-party financial oracle network, providing secure and transparent low-latency real-world data to multiple blockchains. By incentivizing large institutional market participants to share their data, Pyth ensures the availability of aggregated on-chain data for smart contract applications.With over $2.0 billion secured in total value and supporting more than 400 real-time price feeds, Pyth has become a pivotal component in the blockchain ecosystem, facilitating over $100 billion in total trading volume across more than 50 blockchain ecosystems. The integration of Pyth Price Feeds into the Hedera network marks a significant milestone, promising to enhance the security, efficiency, and innovation of DeFi applications and services across the globe.

Over 400 Pyth Price Feeds Now Live on Hedera for Enhanced DeFi Security

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