In a groundbreaking step towards mainstream adoption of blockchain technology, Pyth Price Feeds have officially launched on Xion, ushering in a new era of decentralized consumer applications. Xion, known for its commitment to simplifying user interactions and abstracting the complexity of blockchain technology, has joined forces with Pyth, the leading provider of real-time market data, to give developers access to more than 500 high-quality price feeds.
The integration of the Oracle of Pyth into the Xion blockchain represents a major milestone in the evolution of decentralized finance (DeFi) and consumer applications. With Pyth’s extensive network of price feeds spanning traditional and digital asset classes, Xion developers can now leverage real-time data to build innovative applications that drive mass adoption.
Burnt Banksy, a core contributor at
XION gets hotter thanks to Pyth Data 🔥
Today marks the launch of Pyth Price Feeds on @burnt_xion, a Layer 1 blockchain designed to enable global mainstream adoption through crypto abstraction.
Below you will find more information about this implementation:
ℹ️About Xion
XION simplifies the user… pic.twitter.com/2mFFSbJ6hA
— Pyth Network 🔮 (@PythNetwork) May 14, 2024
Paving the way for regular adoption
As a layer one blockchain, Xion is carefully designed to simplify user experiences and drive global mainstream adoption through crypto abstraction. By abstracting complexities such as bills, signatures, gas rates and interoperability, Xion provides a fertile ground for the creation of Web3 projects aimed at reaching mainstream audiences around the world.
By deploying Pyth’s pull oracle on Xion, applications can seamlessly access real-time price updates from the Pythnet app chain. This gas-efficient architecture ensures that users within the Xion ecosystem receive consistently accurate market data without latency or price differences.
Developers using Pyth’s data on Xion can create responsive and reliable applications that can respond to market changes in real time. The integration of Pyth’s permissionless access to off-chain data opens up new possibilities for building consumer-facing applications that deliver enhanced user experiences.
Xion’s partnership with Pyth represents a strategic alignment toward democratizing access to decentralized technologies. By combining Xion’s Generalized Abstraction capabilities with Pyth’s comprehensive data products, developers are ready to lead the way toward a future where Web3 is accessible to everyone.
As the first Layer 1 blockchain purpose-built for consumer adoption, Xion has received significant support from industry leaders and raised over $30 million from entities like Animoca, Circle, Multicoin and more. Meanwhile, Pyth Network is the largest first-party financial oracle solution, delivering real-time market data securely and transparently to over 55 blockchains.
With a total value of over $2.0 billion and significant usage across DeFi protocols, the Pyth Network’s pull oracle design has cemented its position as an essential part of the blockchain ecosystem. With the partnership between Pyth and Xion setting a new standard for decentralized applications, the future of Web3 on Xion looks promising.
Developers are ready to use Pyth’s robust data infrastructure to create transformative applications that bring blockchain technology closer to mainstream adoption. With Xion’s commitment to simplicity and Pyth’s commitment to reliability, the stage is set for a revolution in decentralized consumer applications.
