Pyth Price Feeds Kick Off on Galxe’s Novel L1, Gravity

Gravity, a new-gen L1 blockchain by digital platform Galxe, announces the integration of Pyth price oracles. Pyth instruments will be available for all developers building their products on Gravity and interested in leveraging the chain’s performance and UX capabilities.

Gravity integrates price feeds by Pyth Network

According to the official statement by the two teams, Gravity, a new-gen omnichain L1 network by Galxe Web3 distribution platform, is now integrated with Pyth, a provider of price oracles. As the integration goes live, Gravity will be leveraging Pyth price feeds for all of its dApps.

In addition to Gravity’s cross-chain settlement protocol and fast finality, smart contract developers can also tap into Pyth Network’s 550+ real-time price feeds for cryptocurrencies and even traditional asset classes. Users are more than ever searching for an on-chain experience that prioritizes user-friendliness and which abstracts away the longstanding complexities of Web3.

This universal demand extends to the domain of on-chain finance, which is Pyth’s key specialization. The Pyth Network’s innovative pull oracle will empower users on Gravity with continuous access to low-latency and high-frequency price updates for a more secure DeFi experience that feels like TradFi.

Charles Wayn, cofounder of Galxe, is excited by the opportunities the new integration unlocks for Gravity protocol and its developer community:

Integrating Pyth Network’s price feeds with Gravity gives our users fast, accurate price updates, making DeFi on Gravity more secure and user-friendly. This step is crucial for building a strong DeFi ecosystem, offering real-time market data to support high-performance applications.

The deployment of Pyth Price Feeds is a crucial step for kickstarting a DeFi ecosystem in Gravity’s high-performance environment.

Reliable price data for new-gen dApps on Gravity

Real-time access to granular price feeds that reflect external markets is necessary for high-throughput DeFi applications.

Pyth Network’s ability to meet the strict requirements of next-generation DeFi aligns the oracle network with the mission of Gravity.

By providing accurate, low-latency market data from institutional and decentralized sources, Pyth enhances the reliability and security of DeFi applications on Gravity, fostering a robust and scalable financial ecosystem.

As covered by U.Today previously, in Q1, 2024, Pyth Network teamed up with Nomura’s blockchain project, Laser Digital.