Pyth Network implements a price feed on Eclipse
Pyth Network has just deployed Pyth Price Feeds - a source of price data - on the Eclipse testnet. Eclipse is the first Solana Virtual Machine (SVM) compatible Layer2 project, combining the security of Ethereum, the extreme performance of Solana, and Data Availability from Celestia.
Through this implementation, smart contract developers on Eclipse will have access to over 500 real-time price data, spanning from traditional to digital assets. Eclipse native DeFi applications can also further enhance security with high frequency and accuracy price data.
Eclipse Labs CEO Vijay Chetty shared about this collaboration:
“Now that the Pyth price feed is available on Eclipse, developers can build high-performance on-chain DeFi applications directly on Ethereum L2. Because we use the Solana Virtual Machine, developers can access reliable price data that is updated much more frequently than other blockchains, and as a result unlock a series of high-frequency dApps.”
Douro Labs CEO Mike Cahill commented:
“Eclipse leads the way in modular technology by combining the security of Ethereum with the performance of Solana. The project has much in common with Pyth Network, as both use the Solana Virtual Machine to achieve high throughput and low latency performance. We anticipate Pyth's price feed will enable exciting DeFi applications on Eclipse.”
The integration with Pyth Network's pull oracle, along with Eclipse's fast block times, will help Eclipse developers benefit from high-frequency price updates and continuous access to updated prices. most recent update.
- Neptune Protocol allows users to mint stablecoin USDN. USDN is created on flexible terms and provides users with access to the Eclipse ecosystem.
- Solend is an algorithmic borrowing and lending protocol on Solana, soon to be available on Eclipse.
- Mango Markets is an all-in-one protocol for lending, borrowing, swapping and leveraged trading of crypto assets through powerful risk management tools. Mango will soon expand to Eclipse.
- Clone is a trading platform for non-Solana tokens - where anyone can gain exposure to "clone" (synthetic) assets such as SUI, OP, ARB, DOGE - and also Solana tokens. Clone is coming soon to Eclipse.
- Decalls is building a prediction platform on Solana (and soon Eclipse) where anyone can bet on whether the price of an asset will increase or decrease over a specific period of time.
About Eclipse
Eclipse uses the Solana Virtual Machine, which is a Layer 2 Ethereum with advantages in speed, security, and scalability.
Designed to support the most demanding applications in finance and gaming, Eclipse enables developers to build high-performance applications that align with core Web3 principles. The project leverages SVM as the execution layer to enhance transaction throughput, benefiting from features such as parallel execution and separate fee markets.
Pyth Data Association
Pyth Data Association, the organization supporting the development of the Pyth Network project, announced a funding program for projects with a value of up to 50 million PYTH.
The program aims to encourage community members to share ideas and insights about Pyth Network with the Web3 community and contribute to the development of the community through educational and research initiatives.
The funding program will have 3 categories, focusing on a different goal to develop and expand Pyth.
The program will oversee the distribution of PYTH tokens to registered projects. This portion of tokens goes to the Ecosystem Development fund.
Pyth Network is enabling a new generation of decentralized finance. By opening access to low-latency, high-frequency, and high-accuracy price data to developers everywhere, Pyth enables high-throughput on-chain applications for the first time. Currently, Pyth Network is supporting 350 applications on more than 55 blockchains, with a transaction volume of more than 400 billion USD.
Pyth Network is operated by the Pyth DAO, which follows a decentralized governance model to enable stakeholders and contributors to jointly shape the network serving DeFi.
For these reasons, the Pyth Data Association is launching the Pyth Ecosystem Grant Program. The program offers three types of funding: Community Grants, Research Grants, and Developer Grants. The purpose of these grants is to empower the Web3 community to create educational content about Pyth and foster a developer-friendly community; Conduct research to improve and integrate the Pyth oracle; and build new uses and tools for the Pyth protocol.
About Pyth Network
Pyth Network is an oracle project that has attracted more than 50 major partners around the world, providing valuable data sources, integrating many protocols, AMMs, Derivatives and a variety of other dApps with data provided in a transparent way. Reliable with latency under 1 second
