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.
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.
