The integration of Pyth oracle onto Merlin Chain, a Bitcoin Layer2 employing ZK-Rollup network and decentralized oracle capabilities, marks a significant advancement for both platforms. This integration enhances the security and reliability of smart contract applications, enabling perpetual futures trading, derivatives, and lending with access to high-fidelity and high-frequency data.
By leveraging Pyth’s renowned price feeds, developers within the burgeoning Bitcoin ecosystem can now access over 400 data feeds covering a wide array of crypto and traditional asset classes.
Pyth’s unique pull oracle architecture introduces an innovative approach, allowing smart contracts to request price updates from the Pythnet appchain as needed. This ensures that downstream users receive the most up-to-date price information while minimizing latency.Â
Founder of BitmapTech and Merlin Chain, Jeff, said, “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.”
Pyth data already fuels various applications within the Merlin Chain DeFi ecosystem, exemplifying its versatility and efficacy in supporting sophisticated financial operations.
Merlin Chain, backed by Bitmap Tech, a prominent player with a market cap exceeding $500 million, is committed to fostering innovation within the Bitcoin ecosystem. Through its Layer2 network, Merlin Chain aims to enhance the functionality and accessibility of Bitcoin-native assets and protocols, further solidifying its position as a leading platform for decentralized finance.Â
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