Hassan Maishera
The Aurora Labs team announced on Tuesday, June 4th, that the Pyth Price Feeds has launched on the Aurora Cloud.
In a press release shared with Cryptowisser, the team said the Pyth Price Feeds will be permissionlessly available to all upcoming Aurora Virtual Chains. Aurora Labs explained that Aurora Virtual Chains are dedicated EVM-compatible blockchains built on top of the NEAR Protocol.
The chains provide builders with a customized and dedicated blockchain environment similar to Aurora. Smart contract developers using rollup can now take advantage of over 500 real-time price feeds across traditional and digital asset classes, all permissionlessly via the innovative on-demand pull model.
While commenting on this latest deployment, Armand, Product Lead at Aurora said,
“Leveraging Pyth Oracle allowed us to provide a familiar interface to developers building on top of an Aurora Virtual Chain. And thanks to our cross-contract calls technology, all virtual chains are communicating with the Pyth Oracle on Aurora Mainnet, providing a simpler integration and support from day 1 for dapps.”
Pyth Price Feeds on Aurora Virtual Chains Reduces Oracle Cost for Builders
The team revealed that the Pyth Price Feeds has been available on Aurora since late 2022, ensuring that the architecture of Aurora Virtual Chains seamlessly communicates with Aurora, providing a direct connection to the Pyth oracle from users’ chains.
Furthermore, the Pyth price update shared model ensures that the cost to use the largest first-party oracle will be minimal for all builders. DeFi apps on Aurora like Aurigami are already updating Pyth prices on-chain, with the updates set to natively become available to all Aurora Virtual Chains
Aurora is an Ethereum Virtual Machine created by the team at the NEAR Protocol, delivering a turn-key solution for developers to operate their apps on an Ethereum-compatible, high-throughput, scalable, and future-safe platform, with low transaction costs for their users.
The Aurora environment consists of the Aurora Engine, a high-performance EVM, and the Aurora Bridge.
Meanwhile, the Aurora Cloud is a one-stop solution for your blockchain infrastructure needs. Aurora Cloud allows developers to create their own blockchain. Developers can also select their base token and their transaction fee mechanics to enjoy a customized experience.
Finally, the Pyth Network is a first-party financial data oracle network that 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.
