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Pyth Now Powers Jellyverse

Twitter icon  •  Published 2 months ago  •  Hassan Maishera

On Wednesday, the Pyth Network announced via X that Jellyverse, a DeFi hub on Sei offering three distinct products (JellySwap, JellyStake, and JAssets) focused on synthetic RWAs, is now powered by Pyth.

On Wednesday, the Pyth Network announced via X that Jellyverse, a DeFi hub on Sei offering three distinct products (JellySwap, JellyStake, and JAssets) focused on synthetic RWAs, is now powered by Pyth.

Jellyverse explained that Pyth is a crucial component of the synthetics protocol, jAssets, on Jellyverse. Its price feeds provide a reliable source for minting synthetic assets and support effective liquidation mechanisms. Once minted, these synthetic assets roughly track the prices of their real-world counterparts, such as stocks, commodities, or ETFs.

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 up 3% in the last 24 hours and is currently trading at $0.2808 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.