- Summary:
- Developers on Hedera now have permissionless access to real-time price data, with more than 400 Pyth Price Feeds.
The full catalog of Pyth Price Feeds are now available on Hedera, an open source, public network governed by leading organizations around the world.
This partnership with the HBAR Foundation oversees the launch of more than 400 Pyth Price Feeds on Hedera. Developers on Hedera now have permissionless access to real-time price data to secure their DeFi applications.
“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 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.” — Grace Pfluger, HBAR Foundation Director of Business Development
“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.” — Marc Tillement, Director at Pyth Data Association
Pyth Price Feeds on Hedera
The launch of Price Feeds and Pyth Benchmarks is a major strategic development for Hedera DeFi ecosystem. Pyth Network offers an expansive suite of over 400 ultra low-latency price feeds across cryptocurrencies, foreign exchange, commodities, equities, and ETFs. Developers on Hedera can tap into these price feeds to power their smart contract protocols and decentralized finance applications.
Pyth Price Feeds offers an innovative Pull Oracle design which enables Hedera users and developers to benefit from continual access to the latest price updates. Low-latency prices are paramount for accurate on-chain transactions and settlement. Pyth Price Feeds also provide a confidence interval feature to inform downstream protocols about ongoing volatility and market dislocations. This supplementary data can keep lending protocols and trading platforms safe and informed about extraordinary market conditions.
HLiquity is the first application on Hedera to integrate with Pyth Data. HLiquity is a decentralized borrowing protocol that allows users to draw interest-free loans against HBAR. Loans are designed to be paid out in HCHF (a CHF-pegged stable on-chain currency) and must maintain a minimum collateral ratio of 110%. Thanks to Pyth Price Feeds, HLiquity can actively track the current price of HBAR and CHF to ensure that user vaults and the overall protocol remain over-collateralized
“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.” — Reto Habegger, COO at Swisscoast
HBAR Foundation
The HBAR Foundation supports the creation of Web3 communities built on the Hedera network, by empowering and funding the builders developing these communities. The Foundation’s six funds—focused on the Crypto Economy, Consumer Engagement, Sustainability, Fintech, Privacy, and Female Founders—each support communities within those areas, and the interconnectedness enables applications to participate as part of a larger ecosystem.
The collective power of these funds enables entrepreneurs, developers, and enterprises of all sizes to tackle some of the world’s largest problems, and create and control their own economies, all built on the Hedera public network. Whether you’re building something new or migrating an existing EVM-based application and community, the HBAR Foundation is here to support you. For additional information, please visit https://hbarfoundation.org.
Pyth
The Pyth Network is a first-party financial oracle network designed to provide low-latency real-world data to multiple blockchains securely and transparently.
Pyth incentivizes some of the world’s largest institutional market participants—exchanges, market makers, and financial services providers—to share their data to the network. Pyth aggregates this data on-chain for smart contract applications to use. These applications can pull Pyth prices on-chain when needed.
In less than a year, the network secured more than $2.0B in total value. Pyth currently supports 400+ real-time price feeds across crypto, equities, ETF’s, FX pairs, and commodities, and has facilitated more than $100B in total trading volume across over 50 blockchain ecosystems.