cryptobriefing.com
Pyth Network has officially announced the launch of its Pyth oracle network on Merlin Chain, a Bitcoin layer 2 protocol known for its ZK-Rollup network, decentralized oracle network, and on-chain BTC fraud-proof modules, according to a recent press release.
With this integration, developers can access Pyth’s vast price data pool, enabling them to build powerful applications while users benefit from reliable market information directly on the Merlin Chain.
Jeff, founder of BitmapTech and Merlin Chain, expressed enthusiasm for the collaboration and its role in onboarding future users.
“The team is looking forward to joining 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,” stated Jeff.
The Pyth Price Feeds are now operational on the Merlin Chain, granting developers access to over 400 low-latency data feeds from both crypto and traditional asset classes. The Pyth oracle’s pull architecture allows smart contract applications to request price updates as needed, ensuring access to the most current data while benefiting from high-fidelity and high-frequency information.
According to the press release, Merlin Chain can solidify its position as a preferred platform for Bitcoin ecosystem developers by incorporating Pyth Price Feeds. Merlin Chain DeFi ecosystem applications like BitSmiley already utilize Pyth’s data feeds. Merlin Chain aims to empower Bitcoin’s native assets and protocols on layer 1 through its layer 2 solutions, striving to “Make Bitcoin Fun Again.”
As part of Bitmap Tech, Merlin Chain contributes to a portfolio with a market cap exceeding $500 million, including the popular BRC-420 “Blue Box” collection on Ordinals.