Pyth Data is Live on Aurora
We are excited to announce that Pyth data feeds are now available on Aurora, the EVM environment built on Near. We’re kicking off with Aurigami, the noncustodial lending, and borrowing haven, which is now #PoweredByPyth.
Thanks to the support of Wormhole and many contributors of the Aurora ecosystem, we are proud to empower builders on Aurora. Any programs deployed there can permissionlessly request and directly consume any of Pyth’s 100+ price feeds for equities, commodities, foreign exchange pairs, and cryptocurrency.
“The integration of Pyth to Aurora is an extra step toward our ultimate goal of providing DEVs with the best building experience,” said Anton Paisov, head of integrations at Aurora Labs. “With over 75 data providers, we think Pyth will bring a lot of possibilities to the DEVs of our growing ecosystem — and we can’t wait to see the future creations that what will come out of this integration.”
Aurora is an Ethereum Virtual Machine created by the team at the NEAR Protocol, delivering a turn-key solution for developers to operate their apps on an Ethereum-compatible, high-throughput, scalable and future-safe platform, with low transaction costs for their users.
The Aurora environment consists of the Aurora Engine, a high-performance EVM — Ethereum Virtual Machine — and the Aurora Bridge, facilitating trustless transfer of ETH and ERC-20 tokens between Ethereum and Aurora, within a great user experience.
Aurora exists and is operated as an independent, self-funded initiative but will continue to leverage the shared team DNA and continually evolving technology of the NEAR Protocol.
The governance of Aurora will take a hybrid form of a Decentralized Autonomous Organization — the AuroraDAO — complemented by a traditional entity that will hold one of several seats in the AuroraDAO.
Find more information about Aurora on its website.
The Pyth network is a first-party financial oracle network designed to publish continuous real-world data on-chain in a tamper-resistant, decentralized, and self-sustainable environment.
The network incentivizes market participants — exchanges, market makers, and financial services providers — to share directly on-chain the price data collected as part of their existing operations. The network then aggregates this first-party price data (still on-chain) and makes it available to either on- or off-chain applications. End-users of Pyth data will be able to choose to pay data fees to hedge against a potential oracle failure: their contributions will attract more publishers and supplement network robustness.
In less than a year, the network secured more than $2.0B in total value. It supported more than $30B in total trading volume ($4B this month alone!), with over 600K client downloads from passionate developers looking to use Pyth data.
Pyth currently supports 150+ price feeds across crypto, equities, FX, and metals, with multiple price updates per second. Upcoming feeds include the DOW30 and Aurora ecosystem tokens.
“Aurora has established itself as the leading EVM environment built on top of a new scalable PoS chain: NEAR, which is one of the many reasons the Pyth feeds found their way there,” said Mike Cahill, a director of the Pyth Data Association. “We are thrilled to continue pushing the number of blockchains that can permissionlessly leverage the Pyth price feeds. Pyth has been built to open the walled garden of financial data, and it is happening in real-time and soon on many more blockchains.”
How does Pyth Work on Aurora?
Pyth’s publishers submit prices to Pyth’s on-chain aggregation program, before the aggregate outputs are then relayed to Aurora through Wormhole Network (the cross-chain message passing protocol). Wormhole observes when Pyth prices have changed and publishes an off-chain signed message attesting to this fact.
This signed price update message can then be submitted to the Pyth contract on Aurora. The contract verifies the Wormhole message and updates the on-chain Pyth price to the new price.
Pyth does not automatically submit the prices to the EVM networks: protocols and users are responsible for updating the on-chain Pyth price before using it. You may find a thorough explainer on the On-Demand Model in our docs.
“Having Pyth as one of our oracles is another critical step to ensure Aurigami has a robust and up-to-date price feed mechanism,” said Lucas Huang, co-founder of Aurigami. “This is ever more so important in today’s environment of high market volatility and low on-chain liquidity. Despite such a challenging environment, Aurigami’s total lifetime bad debt of $0 is a testament to our prudent risk management and efficient liquidation. We look forward to joining forces with leading players like Pyth to build a thriving DeFi ecosystem on Aurora.”
This is your chance to join the Pyth community! Check out the resources below to get started.
If you have any questions, please reach out to us. We look forward to building the future of finance together.
Now that the Pyth network has joined the Aurora community, you will soon see many more Near and Aurora ecosystem tokens supported on the network. You can find our price feeds on our website and even discover which price feeds are upcoming. If you have requests for new price feeds, let us know in our Discord.