- Galxe has launched Gravity, a Layer 1 omnichain now powered by Pyth’s real-time price feeds, improving performance and user experience.
- Gravity integrates advanced technologies and offers high-quality execution, making it ideal for complex Web3 operations and DeFi applications.
Galxe has unveiled Gravity, a Layer 1 omnichain designed to revolutionize the blockchain landscape. This new platform, now integrated using Pyth for real-time price feeds, aims to improve performance and user experience in Web3.
Of the integration of Pyth Network, Gravity has access to more than 550 real-time price feeds in the blockchain. These feeds include not only the cryptos, but also the traditional asset classes. This addition is in line with Gravity’s vision to provide a frictionless on-chain experience, focusing on ease of use and demystifying the Web3 experience.
Through Pyth’s pull oracle, users can receive frequent and timely price updates, improving the security and usability of DeFi applications on Gravity.
According to Charles Wayn, the co-founder of Galxe, using Pyth’s price feeds improves the security and convenience of DeFi on Gravity for fast applications with real-time market data. He further stated:
“This step is critical to building a strong DeFi ecosystem that provides real-time market data to support high-performance applications.”
Pyth Price Feeds starts the DeFi ecosystem on gravity
Gravity is designed with an emphasis on performance, scalability, and security through the use of technologies such as Zero-Knowledge Proofs and the Jolteon consensus algorithm. These technologies facilitate seamless interoperability between different blockchains and improve the overall user experience.
Using Pyth Price Feeds is essential to kick-starting a DeFi ecosystem in Gravity’s high-throughput environment. This is because Pyth Network is capable of providing real-time, low-latency market data from both institutional and decentralized sources, making DeFi solutions on Gravity reliable and scalable.
The integration also shows that Gravity is a company focused on innovation and the needs of its users. By integrating Pyth’s pricing oracles into Gravity, smart contract developers get a safer and better working environment. This integration enables the creation of highly efficient apps that rely on real-time market data for optimal performance and meet market demands new generation of DeFi solutions.
Gravity’s cross-chain settlement protocol and fast finality are complemented by Pyth Network’s real-time price feeds. The integration is seen as a crucial step in building a more resilient and user-friendly DeFi ecosystem, attracting developers and users looking for a reliable on-chain experience. Thanks to the partnership with Pyth Network, Gravity is well positioned to provide a more secure and efficient platform for DeFi applications.
According to the announcement, Pyth currently secures more than $5 billion in total value locked (TVL) and facilitates a total trading volume of more than $500 billion across more than 65 blockchain ecosystems. Additionally, developers can build applications on Gravity using full EVM compatibility and advanced features, taking advantage of ultra-low execution latencies, higher throughput, negligible transaction costs, and full cross-chain composability.
