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— Pyth Network 🔮 (@PythNetwork) May 14, 2024
Paving the Way for Mainstream Adoption
Xion, as a layer one blockchain, has been meticulously designed to simplify user experiences and promote global mainstream adoption through crypto abstraction. By abstracting complexities such as accounts, signatures, gas fees, and interoperability, Xion provides a fertile ground for the creation of Web3 projects aimed at reaching mainstream audiences worldwide.
The deployment of Pyth’s pull oracle on Xion enables applications to seamlessly access real-time price updates from the Pythnet appchain. This gas-efficient architecture ensures that users within the Xion ecosystem consistently receive accurate market data without latency or pricing discrepancies.
Developers leveraging Pyth’s data on Xion can create responsive and reliable applications capable of reacting to market changes in real-time. The integration of Pyth’s permissionless access to off-chain data opens up new possibilities for building consumer-facing applications that offer enhanced user experiences.
Xion’s collaboration with Pyth represents a strategic alignment towards democratizing access to decentralized technologies. By combining Xion’s Generalized Abstraction capabilities with Pyth’s comprehensive data products, developers are poised to lead the charge toward a future where Web3 is accessible to everyone.
Xion, as the first layer 1 blockchain purpose-built for consumer adoption, has garnered significant support from industry leaders, raising over $30M from entities such as Animoca, Circle, Multicoin, and more. Meanwhile, Pyth Network stands as the largest first-party financial oracle solution, delivering real-time market data to over 55 blockchains securely and transparently.
With over $2.0B in total value secured and significant usage by DeFi protocols, the Pyth Network’s pull oracle design has cemented its position as a vital component of the blockchain ecosystem. As the partnership between Pyth and Xion sets a new standard for decentralized applications, the future of Web3 on Xion looks promising.
Developers are poised to leverage Pyth’s robust data infrastructure to create transformative applications that bring blockchain technology closer to mainstream adoption. With Xion’s commitment to simplicity and Pyth’s dedication to reliability, the stage is set for a revolution in decentralized consumer applications.