Morph, a provider of Ethereum Layer 2 technology, has joined forces with Pyth Network. This collaboration aims to boost the capabilities of decentralized finance (DeFi) projects using Morph. With this partnership, developers working on Morph gain access to more than 500 up-to-date price feeds for various assets such as cryptocurrencies, stocks, and commodities offered by Pyth Network.
In simpler terms, Morph’s testnet now includes Pyth Price Feeds as part of a partnership. This integration uses Zero-Knowledge (ZK) technology and Optimistic Rollups to enhance the network’s capacity and promote greater decentralization.
Transform your apps—with Pyth data 🔮
Today marks the launch of Pyth Price Feeds on @Morphl2 testnet, a secure, decentralized, cost-effective, and high-performant EVM-equivalent rollup for Web3 builders.
Learn more about this deployment below:
ℹ️ About Morph
Morph is a fully…
— Pyth Network 🔮 (@PythNetwork) April 24, 2024
Through their collaboration, Pyth and Morph offer developers the necessary resources to build trustworthy and secure decentralized finance (DeFi) projects. By integrating Pyth’s oracle deployment on Morph, DeFi platforms can effortlessly access real-time pricing information directly from the Pythnet appchain.
Pyth’s oracle network collects real-time, reliable pricing information from top exchanges and market makers. This connection enables Morph users to quickly access up-to-the-minute market data.
Morph brings together the technologies of optimistic and zero-knowledge roll-ups, enabling a Decentralized Finance (DeFi) compatible environment for developers in the realms of gaming, social media, and entertainment applications. Morph’s decentralized sequencer upholds the fundamental principles of Web3: it is decentralized, resistant to censorship, and ensures security.
In the meantime, Pyth Network is revolutionizing the financial data sector by gathering instant price feeds from exchanges and dealers. This collaboration signifies significant progress towards expanding the capabilities of DeFi applications, inspiring innovative concepts within the decentralized finance realm.
Through their partnership, Morph and Pyth provide developers with the tools to build Decentralized Finance (DeFi) applications. By utilizing robust infrastructure and reliable data, this alliance aims to transform DeFi, fostering expansion and innovation in the Ethereum community.
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2024-04-24 19:36