Pyth Powers Oracle Engine for Merlin Chain, Enabling Bitcoin Layer2 DeFi Revolution

Is Pyth the Oracle Powerhouse for Merlin Chain?

The recent integration of Pyth oracle onto Merlin Chain, a Bitcoin Layer2 network, is a major win for both platforms. This integration boosts the security and reliability of smart contract applications, enabling perpetual futures trading, derivatives, and lending with access to high-quality, high-frequency data.

Leveraging Pyth's Pull Oracle Architecture

Pyth's data feeds cover over 400 crypto and traditional asset classes. Its innovative pull oracle architecture allows smart contracts to request price updates from the Pythnet appchain on demand, ensuring up-to-date information with minimal latency.

Founder's Perspective

Jeff, founder of BitmapTech and Merlin Chain, is excited about working with Pyth. "We're building the foundation of Merlin Chain, and Pyth's price feeds and market data are essential for the next generation of Bitcoin and DeFi on our platform."

Versatile Data for Merlin Chain DeFi

Pyth's data fuels various applications within Merlin Chain's DeFi ecosystem, demonstrating its versatility and effectiveness in supporting complex financial operations.

Bitcoin Ecosystem Innovation

Merlin Chain, backed by Bitmap Tech with a market cap of over $500 million, is committed to driving innovation within the Bitcoin ecosystem. Its Layer2 network aims to enhance the functionality and accessibility of Bitcoin-native assets and protocols, solidifying its position as a leading platform for decentralized finance.

Related Reading

Pyth Price Feeds Launch on Injective in EVM

Disclaimer: This article is for informational purposes only and should not be considered investment advice.