TechFlow news, January 31 — Pyth Network announced that its oracle price feed data has officially gone live on Arbitrum, an Ethereum Layer 2 blockchain. Meanwhile, leading protocols on Arbitrum, CAP Finance and Perpy, have completed integration with Pyth and are now PoweredByPyth.
Pyth Network has innovatively introduced a demand-driven data pull oracle model. Under this model, users can pull price data on-chain as needed, while simultaneously making that timestamped on-chain data available to all developers within the blockchain environment.
Mike Cahill, Head of Pyth Data Association, said: “Ethereum is the oldest and one of the most important blockchain ecosystems, which is one of the key reasons why this integration matters so much. We’re excited to expand our services into the Ethereum ecosystem, particularly on Arbitrum, continuing to deliver high-quality data to developers and enabling more new dApps to leverage Pyth.”
To date, Pyth Network has secured over $2 billion in total value protected and supported more than $30 billion in total trading volume. Pyth also revealed it will soon launch within the Cosmos ecosystem.
