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- Galxe has launched Gravity, a Layer 1 omnichain now powered by Pyth’s real-time price feeds, enhancing performance and user experience.
- Gravity integrates advanced technologies and offers high-performance execution, making it ideal for complex Web3 operations and DeFi applications.
Galxe has unveiled Gravity, a Layer 1 omnichain designed to revolutionize the blockchain landscape. This new platform, now integrated with Pyth for real-time price feeds, aims to enhance performance and user experience in Web3.
With the integration of Pyth Network, Gravity has access to over 550 real-time price feeds in the blockchain. These feeds include not only the cryptos but also the traditional assets classes as well. This addition is in line with Gravity’s vision of providing a hassle-free on-chain experience, focusing on ease of use and demystifying the experience of Web3.
Through Pyth’s pull oracle, users will be able to get frequent and timely price updates, thereby improving the security and usability of DeFi applications on Gravity.
According to Charles Wayn, the Co-founder of Galxe, using Pyth’s price feeds improves the security and convenience of DeFi on Gravity for high-speed applications with real-time market data. He further stated,
“This step is crucial for building a strong DeFi ecosystem, offering real-time market data to support high-performance applications.”
Pyth Price Feeds Kickstart DeFi Ecosystem on Gravity
Gravity is designed with an emphasis on performance, scalability, and security through the use of technologies like Zero-Knowledge Proofs and the Jolteon consensus algorithm. These technologies facilitate seamless interoperability between different blockchains and enhance the overall user experience.
The use of Pyth Price Feeds is essential to kick-start a DeFi ecosystem in Gravity’s high throughput environment. This is because Pyth Network is able to provide real-time, low-latency market data from both institutional and decentralized sources, hence making DeFi solutions on Gravity reliable and scalable.
The integration also shows that Gravity is a company that focuses on innovation and the needs of its users. By incorporating Pyth’s price oracles into Gravity, smart contract developers gain a safer and better working environment. This integration allows for the creation of very efficient apps that rely on real-time market data for optimal functioning and meet the requirements of the new generation of DeFi solutions.
Gravity’s cross-chain settlement protocol and fast finality are complemented by the real-time price feeds provided by Pyth Network. The integration is seen as a crucial step in building a more resilient and user-friendly DeFi ecosystem, attracting developers and users who seek a reliable on-chain experience. With its partnership with Pyth Network, Gravity is well-positioned to provide a more secure and efficient platform for DeFi applications.
According to the announcement, Pyth currently secures over $5 billion in total value locked (TVL) and facilitates over $500 billion in total trading volume across over 65 blockchain ecosystems. Additionally, Developers can build applications on Gravity using its full EVM compatibility and advanced features, benefiting from ultra-low execution latencies, higher throughput, negligible transaction fees, and full composability across multiple chains.