Nikolas Sargeant
Merlin Chain, a Bitcoin Layer2 that integrates the ZK-Rollup network, decentralized oracle network, and on-chain BTC fraud-proof modules, announced on Tuesday, March 26th, that the Pyth oracle is now available on its network.
In a press release shared with Cryptowisser, the team said this latest development further solidifies Pyth Price Feeds as the go-to solution for developers building on the growing Bitcoin ecosystem. While commenting on this latest development, Jeff, Founder of BitmapTech and Merlin Chain said,
“The team is looking forward to joining hands with Pyth, a leading oracle, to help build the foundation of Merlin Chain. With the price feeds and market data Pyth provides, we are now ready to welcome the next generation of Bitcoin and DeFi to Merlin Chain.”
Pyth Price Feeds Now Available on Merlin Chain
The Pyth Price Feeds are now live on the Merlin Chain DeFi ecosystem. Thanks to this deployment, developers on Merlin Chain can now enjoy permissionless access to over 400 low-latency data feeds across major crypto and traditional asset classes.
Merlin Chain chose Pyth’s price data infrastructure because it can secure a wide range of smart contract applications ranging from perpetual futures trading and derivatives to borrowing and lending.
Furthermore, the Pyth oracle introduce a specialized pull oracle architecture which empowers smart contract applications to request or pull price updates from the Pythnet appchain only when needed. With this innovation, downstream users now have reliable access to the freshest price updates while benefitting from high-fidelity and high-frequency data.
Merlin Chain is a Bitcoin Layer2 that integrates ZK-Rollup network, decentralized oracle network, and on-chain BTC fraud proof modules. Merlin Chain is committed to empowering Bitcoin’s native assets, protocols, and products on Layer1 through its Layer2 network, to Make Bitcoin Fun Again.
Meanwhile, the Pyth Network is a first-party financial data oracle network which delivers low-latency price data for various assets to blockchains securely. Pyth incentivizes some of the world’s largest exchanges, market makers, and trading firms to contribute their proprietary data to the network. Pyth aggregates their price data on-chain for smart contracts to use. Decentralized applications can request or pull Pyth price updates on-chain when needed.
