TON, Pyth team up for real-time DeFi data

The Open Network (TON), a decentralized blockchain platform, and Pyth Network, a decentralized data oracle, have partnered to deliver high-fidelity data to builders on TON.

According to information shared with Cointelegraph, the collaboration focuses on integrating Pyth’s pull oracle data feeds to enable TON developers to “make their apps truly stand out.” 

Pyth’s pull Oracle technology is designed to offer real-time “institutional-quality price data” required to help build decentralized applications (DApps) on TON.

In a written Q&A with Cointelegraph, Michael Cahill, CEO of Douro Labs and core contributor to Pyth, explained that the price feeds are “secured by multiple layers of protection.”

“These measures are in place to give TON developers and all other supported ecosystems the confidence to build cutting-edge DeFi that will serve potentially millions of users.”

Related: TON users gain free access to advanced analytics

Partnership implications

The partnership is expected to impact multiple elements of the TON ecosystem relating to decentralized finance (DeFi), including the ability for projects to offer improved financial services.

According to the shared information, Pyth’s “high-fidelity, real-time prices” will support DeFi projects on TON with “lightning-fast transactions” necessary for “serving a massive global audience.”

With the partnership, TON’s efforts to onboard users into the onchain space will be supported by Pyth’s low-latency data capabilities.

Cahill stated in the Q&A that “TON builders can be confident that Pyth can support the services they want to build, including those they may already offer on other chains.”

Related: Pyth leads perps trading on Solana, Sui, but $600B trading volume will 10x

TON gains advanced analytics access

On Aug. 9, IntoTheBlock (ITB), an onchain analytics and DeFi services provider, integrated TON into its analytics platform.

The development enables the TON community to access ITB’s advanced analytical data free of charge to better understand trends and onchain information on the TON blockchain.

The integration also aims to boost user engagement on the blockchain platform and help increase network transparency through deeper “insights into the TON ecosystem.”

Related: New Tonkeeper app enhances crypto asset security, preventing hacks

Pyth partnership for DeFi lending overhaul

On June 21, Pyth partnered with DeFi-centric development teams Morpho and Gauntlet to improve lending and borrowing experiences on the Ethereum and Base blockchains.

The partnership aimed to offer more secure and efficient lending protocols by utilizing Pyth’s low-latency price data.

Magazine: How Chinese traders and miners get around China’s crypto ban