Securing the Solana Ecosystem with Reliable Oracles by Pyth
We are thrilled to unveil an exciting collaboration between Amulet and Pyth, marking a significant milestone in our shared mission to revolutionize decentralized finance (DeFi) on the Solana blockchain.
Through this partnership, we aim to harness the power of Pyth’s cutting-edge oracle technology to enhance the capabilities and reliability of the Amulet platform.
Empowering Reliable Price Feeds
At Amulet, we recognize the critical importance of reliable and accurate price data in the DeFi ecosystem. Pyth’s oracle network stands as a beacon of trustworthiness, providing real-time pricing information sourced directly from top financial institutions.
By integrating Pyth’s oracles into the Amulet platform, we are poised to elevate the quality of price feeds available to our users, ensuring transparency and precision in all transactions.
Our app uses Pyth Oracle Feeds to determine if there is a big price drop on Solana Liquid Staking Tokens (mSol, bSol etc). Specifically, we use two Oracle Feeds (e.g. mSOL/USD and SOL/USD) to calculate mSOL price against SOL. Our product AmuShield activates and gets triggered when the price of mSOL/SOL drops below the trigger price. You may refer to the image below to find out how AmuShield works:
Enhanced Security and Transparency
Security is paramount in the world of DeFi, and Pyth’s robust infrastructure offers unparalleled protection against manipulation and data inaccuracies. Through our partnership, Amulet users can rest assured knowing that they are accessing price data of the highest integrity, backed by Pyth’s state-of-the-art security measures. Additionally, the transparency inherent in Pyth’s oracle network aligns seamlessly with Amulet’s commitment to openness and accountability, fostering trust among our community members.
Unlocking New Opportunities
By joining forces with Pyth, Amulet opens the door to a myriad of new opportunities for our users. From more diverse yield strategies to innovative financial products, the integration of Pyth’s oracles enables us to explore uncharted territories and push the boundaries of what is possible in DeFi.
Stay tuned for more updates and developments as we continue to harness the power of blockchain technology to shape the future of finance.
About Pyth
Pyth Network is the largest first-party financial oracle solution delivering real-time market data to over 50 blockchains in a secure, transparent manner. Pyth supports 450+ real-time price feeds across major asset classes including digital assets, equities, ETFs, FX, and commodities. In less than a year since the launch of its cross-chain pull oracle, the network has secured over $1.0B in total value.
About Amulet
Amulet is the first yield protocol with built-in protection. Our platform offers a unique blend of enhanced yield strategies, transparent risk profiles, and parametric protections, ensuring users experience risk-adjusted yields within a secure and innovative environment. Deposit and get protected instantly.
