Neon Foundation and Pyth Network Join Forces: Empowering Ethereum Applications on Solana with High-Fidelity Price Feeds
The Neon Foundation, the Neon EVM ecosystem accelerator, has entered into a strategic partnership with Pyth Network, a next-generation oracle specially designed to publish high-fidelity financial market data at sub-second latency to multiple blockchains.
Pyth Network is now available to all protocols built on Neon. This allows Ethereum-based dApps deployed on Solana via Neon EVM to effortlessly access high-fidelity price feeds from the Pyth Network. This collaboration empowers Neon applications to harness Pyth Network’s hi-fi price feeds, significantly bolstering the capabilities and performance of their protocols. Access to such low-latency, reliable data is a game changer in the decentralized finance (DeFi) sector.
“Neon is bridging the divide between two leading blockchains,” said Mike Cahill, Director of the Pyth Data Association. “We look forward to working with them as their first oracle integration — to increase access of Pyth data to dApps while offering them a seamless user experience in the process.”
“We are joining forces with Pyth to empower builders across the Neon ecosystem with access to high-fidelity financial data. This collaboration creates a dynamic environment that supports accurate price discovery, improved risk assessment, and enhanced transparency,” said Marina Guryeva, director of Neon Foundation. “Our strategic partnership enables developers to innovate and build reliable DeFi applications, strengthening a robust and accessible decentralized financial infrastructure for all.”
Pyth’s Technical documentation, available here, guides developers in integrating and consuming Pyth price feeds into their Neon EVM projects. In contrast to most oracles today that utilize a push model, where off-chain processes constantly send transactions to update on-chain prices, Pyth adopts a unique approach. It eliminates the need for an off-chain process to push prices on-chain, and instead, entrusts users with the responsibility of “pulling” updated prices on-chain as required.
Together, Neon EVM and Pyth Network are committed to expanding the possibilities for the decentralized ecosystem, ensuring developers have the tools and resources necessary to create groundbreaking applications and deliver unparalleled user experiences.
Neon is an Ethereum Virtual Machine (EVM) that harnesses the scalability and liquidity of Solana in a fully Ethereum-compatible environment, revolutionizing the decentralized ecosystem by combining the best of both worlds. With a throughput of 2,000+ TPS and gas fees as low as 0.000015 SOL per transaction, Neon EVM empowers developers to create cutting-edge applications and experience the future of interoperability.
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. Pyth has supported more than $35B in total trading volume, with over 800K client downloads from passionate developers looking to use Pyth data. Pyth currently supports 200+ price feeds across crypto, equities, FX, and commodities, with multiple price updates per second.