The Pyth oracle’s integration with Merlin Chain, a Layer 2 solution on Bitcoin that combines ZK-Rollup technology, a decentralized oracle network, and BTC fraud detection modules, marks a significant leap forward. This move underscores Pyth Price Feeds’ position as a critical resource for developers in the burgeoning Bitcoin ecosystem.
“The team is looking forward to join hands with Pyth, a leading oracle, to help build the foundation of Merlin Chain. With the price feeds and market data Pyth provides, we are now ready to welcome the next generation of Bitcoin and DeFi to Merlin Chain,” Jeff, Founder of BitmapTech and Merlin Chain, said.
With Pyth Price Feeds going live on Merlin Chain, developers now have unrestricted access to over 400 real-time data feeds from a vast array of asset classes, enhancing the security and functionality of diverse smart contract applications, including trading, lending, and borrowing platforms. Pyth’s unique pull oracle architecture offers an efficient way for applications to obtain the latest price data, ensuring accuracy and timeliness for end-users.
Merlin Chain stands out as a Layer 2 enhancement for Bitcoin, focusing on enriching Bitcoin’s Layer 1 assets, protocols, and products with advanced technologies. As a branch of Bitmap Tech, Merlin Chain brings significant credibility and innovation to the Bitcoin ecosystem, highlighted by its successful BRC-420 “Blue Box” collection among the Ordinals.
The Pyth Network, known for delivering secure, low-latency financial data, gathers proprietary data from leading exchanges and trading firms, making it a backbone for smart contracts and decentralized applications. In a relatively short span, Pyth has managed to secure over $2 billion in value, now supporting more than $3 billion across numerous markets. With its comprehensive coverage across cryptocurrencies, stocks, ETFs, forex pairs, and commodities, Pyth has become instrumental in powering over $120 billion in trading volume across more than 50 blockchain ecosystems.
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