Pyth Network has officially announced the launch of its Pyth oracle network on Merlin Chain, a Bitcoin Layer 2 protocol known for its ZK-Rollup network, decentralized oracle network and on-chain BTC tamper-resistant modules, according to a recent press release.
With this integration, developers can access Pyth’s massive pricing data pool, allowing them to build powerfully applications while users benefit from reliable market information directly on the Merlin Chain.
Jeff, founder of BitmapTech and Merlin Chain, expressed his excitement about the partnership and its role in onboarding future users.
“The team looks forward to joining forces with Pyth, a leading oracle, to help build the creation of Merlin Chain. With the price feeds and market data provided by Pyth, we are now ready to welcome the next generation of Bitcoin and DeFi to Merlin Chain,” said Jeff.
The Pyth Price Feeds are now operational on the Merlin Chain, giving developers access to over 400 low-latency data feeds from both crypto and traditional asset classes. The Pyth oracle’s pull architecture allows smart contract applications to request price updates as needed, ensuring access to the most up-to-date data while taking advantage of high-fidelity and high-frequency information.
According to the press release, Merlin Chain can solidify its position as the platform of choice for Bitcoin ecosystem developers by integrating Pyth Price Feeds. Merlin Chain DeFi ecosystem applications such as BitSmiley already use Pyth’s data feeds. Merlin Chain aims to strengthen Bitcoin’s native layer 1 assets and protocols through its layer 2 solutions, and aims to “Make Bitcoin fun again.”
As part of Bitmap Tech, Merlin Chain contributes to a portfolio with a market cap of over $500 million, inclusive the popular BRC-420 “Blue Box” collection on Ordinals.