TON and Pyth Forge Alliance for Better DeFi Data Delivery

Bittime - The burgeoning Decentralized Finance (DeFi) landscape is poised to get a significant boost with the merger of Telegram Open Network (TON) and Pyth Network. 

This strategic partnership aims to equip TON developers with high-quality real-time price data, which is a critical element for robust DeFi applications. Read more!

Optimizing DeFi Potential with Real-Time Data

Pyth Network, known for its high-quality financial data, will now supply real-time price feeds to the TON blockchain. This partnership is a significant development for both platforms. 

For Pyth, this expands their reach into new blockchain environments, particularly the growing DeFi sector of TON. For TON, this strengthens their data capabilities, increasing the accuracy of price information required for various DeFi services such as lending, staking, and trading.

Read also: Toncoin Price Increases Up to 10% After Listing on Binance Launchpool

Pyth's Pull Oracle technology

Pyth Network addresses the need for reliable data by using a unique “pull oracle” approach. In contrast to traditional oracles that use a push method, where data providers actively push data to the blockchain, Pyth leverages a network of publishers that are pre-selected based on their expertise and credibility. 

These publishers are incentivized to consistently provide accurate and timely pricing data, ensuring system integrity.

Benefits for TON Developers

The integration of Pyth data feeds into the TON ecosystem will provide several benefits to developers:

Better DeFi Applications

TON developers can leverage high-quality data from Pyth to build more advanced and secure DeFi applications, attracting more users.

Better User Experience

Real-time price data creates a smoother and more transparent user experience in DeFi protocols built on TON.

Increased Innovation

Access to a reliable data stream can drive further innovation and development of new DeFi applications within the TON ecosystem.

A Stronger DeFi Future

The collaboration between TON and Pyth signals a positive development for the DeFi space more broadly. By encouraging access to reliable price data, this partnership paves the way for the creation of more reliable, efficient and user-friendly DeFi products on TON. 

As real-time data becomes increasingly important to DeFi operations, this alliance places TON in a strong position for significant growth in the ever-evolving DeFi landscape.

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