- The partnership’s main goal is to incorporate Pyth’s oracle service into TON so that developers on the blockchain can request pricing data on demand.
The Open Network (TON) and Pyth Network joined, the latter company announced on Wednesday.
Pyth’s oracle service, which enables users to obtain pricing data on-demand, is the primary focus of the relationship. Pyth will help developers construct better in-game economies by supporting games on the TON blockchain with precise data feeds.
Pyth’s oracle will feed real-time price data, which it thinks vital for DeFi services that aim to enable rapid transactions, enabling TON initiatives to reach a wider global audience.
Pyth stated that in addition to gaming and DeFi, it anticipates that its solution will assist TON in serving new Web3 consumers who demand the same degree of responsiveness that they were accustomed to from Web2 services.
Pyth Network was first created for the Solana blockchain, but it now functions on more than 70 blockchains, including Ethereum, Base, Optimism, Arbitrum, and Solana. It offers market statistics on commodities, FX, stocks, and cryptocurrency.
Over the course of this year, the TON network saw a notable increase in both user base and adoption, driven primarily by casual games on the Telegram chat service. At present, the asset is locked at a value over $600 million.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
