DeFi
Gravity Integrates Pyth Price Oracles for Enhanced DeFi Solutions
- Galxe launched Gravity, a Layer 1 omnichain now powered by Pyth’s real-time price feeds, improving performance and user experience.
- Gravity integrates advanced technologies and offers high-performance execution, making it ideal for complex Web3 operations and DeFi applications.
Galxe has unveiled Gravity, a Layer 1 omnichain designed to revolutionize the blockchain landscape. This new platform, now integrated with Pyth for real-time price feeds, aims to improve performance and user experience in Web3.
With Pyth Network integration, Gravity has access to over 550 real-time price feeds on the blockchain. These feeds include not only cryptos but also traditional asset classes. This addition is in line with Gravity’s vision of providing a hassle-free on-chain experience, with a focus on ease of use and demystifying the Web3 experience.
With Pyth’s pull oracle, users will be able to get frequent and timely price updates, improving the security and usability of DeFi applications on Gravity.
According to Charles Wayn, co-founder of Galxe, using Pyth’s price feeds improves the security and convenience of DeFi on Gravity for high-throughput applications with real-time market data. He added:
“This step is crucial to building a robust DeFi ecosystem, offering real-time market data to support high-performance applications.”
Pyth Price Fuels Kickstart DeFi Ecosystem on Gravity
Gravity is designed with a focus on performance, scalability, and security through the use of technologies such as zero-knowledge proofs and the Jolteon consensus algorithm. These technologies facilitate seamless interoperability between different blockchains and improve the overall user experience.
Using Pyth Price Feeds is essential to launching a DeFi ecosystem in Gravity’s high-throughput environment. This is because Pyth Network is able to provide real-time, low-latency market data from institutional and decentralized sources, making DeFi solutions on Gravity reliable and scalable.
The integration also shows that Gravity is a company that focuses on innovation and the needs of its users. By integrating Pyth’s price oracles into Gravity, smart contract developers benefit from a more secure and efficient working environment. This integration enables the creation of highly efficient applications that rely on real-time market data for optimal operation and meet market requirements. new generation of DeFi solutions.
Gravity’s cross-chain settlement protocol and fast finality are complemented by real-time price feeds provided by Pyth Network. The integration is seen as a crucial step in building a more resilient and user-friendly DeFi ecosystem, attracting developers and users who are looking for a reliable on-chain experience. Through its partnership with Pyth Network, Gravity is well-positioned to provide a more secure and efficient platform for DeFi applications.
According to the announcement, Pyth currently secures over $5 billion in total value locked (TVL) and facilitates over $500 billion in total trading volume across 65+ blockchain ecosystems. Additionally, developers can build applications on Gravity using its full EVM compatibility and advanced features, benefiting from ultra-low execution latencies, higher throughput, negligible transaction fees, and full composability across multiple chains.
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