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Pyth Network Now Powers Burrow Finance

Twitter icon  •  Published 1ヶ月前  •  Hassan Maishera

The Pyth Network announced via X on Tuesday that it now powers Burrow Finance, a decentralized, non-custodial, pool-based interest rates platform.

The Pyth Network announced via X on Tuesday that it now powers Burrow Finance, a decentralized, non-custodial, pool-based interest rates platform that enables users to supply assets to earn interest and to borrow against them to unlock liquidity.

Burrow is powered by Pyth to value the various assets supported by the protocol to ensure that users’ position as well as the platform remain over-collateralized and healthy.

Thanks to Pyth’s on-demand model and its new Perseus upgrade, Burrow can permissionlessly request and update prices on-chain for multiple assets in a single transaction.

Pyth Network is an innovative decentralized oracle that sources financial market data from over 90 first-party publishers, including major exchanges and market-making firms worldwide. PYTH is down by 2% in the last 24 hours and is currently trading at $0.8559 per coin.

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Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.