Pyth Network expands price feeds solution to Arbitrum

• The Pyth Network price feed is now available in Arbitrum.
• Builders within the ecosystem of Ethereum scaling solutions now have access to over 200 price feeds spanning cryptocurrencies, stocks and commodities.
• Pyth technology already powers Arbitrum’s CAP Finance and Perpy Finance.

Pyth Network, an oracle solution provider primarily integrated across the Solana ecosystem, has announced an extension to its layer 2 blockchain protocol Arbitrum.

What this means is that Pyth price feeds are now publicly available on Arbitrum, a scaling solution developed by OffChain Labs for the Ethereum ecosystem. The Python team blog release On Tuesday, that integration will support Arbitrum’s decentralized finance (DeFi) community.

Pyth Powers Arbitrum dApps

Arbitrum is already integrated with Chainlink’s price feed. Essentially, developers and other his Arbitrum users will now have access to a new oracle network with over 200 price feeds, covering key data needs across cryptocurrencies, stocks, FX pairs and commodities. I’m here.

Mike Cahill, director of the Pyth Data Association, said the integration with Arbitrum is important. One of the reasons, he said in a statement, lies in the fact that Pyth technology is now powering decentralized applications (dApps) in his Ethereum ecosystem.

“We are excited to continue our expansion in the Ethereum world, especially the Arbitrum ecosystem, as we continue to provide developers with high quality data and enable a wide range of new dApps powered by Pyth.added Cahill.

Pyth is helping developers in this ecosystem unlock previously inaccessible financial data by bringing real-time off-chain data to Arbitrum.

As announced on Tuesday, Pyth price feeds are already being used by CAP Finance, an Arbitrum-based persistent DEX platform, and Perpy Finance, a decentralized copy trading protocol.