**Exciting News: IOTA Welcomes Pyth Network for Real-Time Financial Data on Rebased Testnet and Upcoming Layer 1 Mainnet!**
IOTA is thrilled to announce its integration with Pyth Network, a significant leap forward in enhancing its ecosystem. This collaboration brings real-time financial market data to the IOTA network, enriching the infrastructure available for developers. With the IOTA Rebase upgrade, which introduces smart contracts, staking, and gas-free transactions, the platform is set to boost scalability and foster greater adoption in the decentralized finance (DeFi) space.
As of today, Pyth Network is live on IOTA’s Rebased Testnet, enabling developers to seamlessly incorporate high-quality price feeds into their applications. With Pyth’s price feeds already utilized across more than 100 blockchains and by over 500 applications, this integration solidifies IOTA’s standing in the DeFi landscape.
IOTA has confirmed that Pyth Network Core will also be integrated into its upcoming Layer 1 mainnet, making real-time financial data readily accessible to both developers and users. This announcement marks a crucial milestone ahead of the mainnet launch, and we’re excited to see how it will empower our builder community.
Starting today, @PythNetwork is live on IOTA’s Rebased Testnet! Pyth’s price feeds aggregate market data from over 100 first-party providers, including major exchanges and market makers, covering a wide array of asset classes such as US equities, commodities, and cryptocurrencies. Notable platforms like OKX and Binance already leverage this feature, which will now support DeFi projects within the IOTA ecosystem, including Deepr Finance, Virtue Money, Cyberperp, and Iolendfi.
Pyth’s price feeds operate across more than 100 blockchain ecosystems, supporting Ethereum, BNB, Avalanche, Solana, Cosmos chains, Aptos, Sui, Ton, and NEAR. Developers working on IOTA’s MOVE-based Layer 1 can now easily integrate these feeds into their applications. Additionally, those interested in contributing to the ecosystem can apply for the IOTA Labs Builder Program, which is designed to foster innovation on the network.
As IOTA gears up for its Rebase upgrade, it’s set to introduce exciting features like smart contracts, staking, and enhanced scalability. During a recent Ask Me Anything (AMA) session, IOTA shared that the Rebase update aims to improve user experience and drive further adoption. One standout feature is the IOTA Gas Station, which will eliminate the need for native tokens to cover gas fees, simplifying interactions with decentralized applications (dApps) and making them more accessible. Plus, staking rewards will be introduced, offering an annual percentage yield (APY) between 10% and 15%.
With these advancements, IOTA is paving the way for a vibrant and innovative future in the blockchain space!
