Injective – a layer 1 blockchain – has announced the integration of Pyth with its mainnet. The integration allows decentralized applications (dApps) to access data of hundreds of real-world asset markets such as equities, commodities, and foreign exchange pairs, in addition to crypto. The testnet phase already utilized Pyth integration which enabled Injective-based exchange hub to list several novel real-world assets (RWA) markets on-chain. As a result, it has processed more than $9 billion in volume to date – the highest in the entire Cosmos derivatives market.

The integration of Pyth with Injective mainnet is a first for the Cosmos IBC ecosystem and positions Injective as the first IBC-enabled chain to aggregate data via Wormhole. It should facilitate dApps developers to access real-world asset data, thus hugely impacting the DeFi industry. Eric Chen, co-founder, and CEO of Injective Labs, commented that the integration will bring forth a new paradigm of cross-chain data composability.

Pyth is a first party financial oracle network used for publishing continuous real-world data on-chain. It has several notable data publishers such as Binance, CBOE, Jane Street, Hudson River Trading, DRW Cumberland, and Virtu Financial. Since launching its mainnet at the start of 2021, the total value locked in Injective Protocol has reached $20.53 million.

Injective also released a layer-2 testnet utilizing Solana’s Sea Level Virtual Machine (SVM), allowing developers to port Solana Web3 apps to the Cosmos ecosystem in March. It announced $150 million ecosystem initiative to boost the adoption of its interoperable infrastructure and DeFi among prominent Web3 players such as Pantera Capital, Kraken Ventures, Jump Crypto, Kucoin Ventures, Delphi Labs, Flow Traders, Gate Labs, and IDG Capital.



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