TON collaborates with Pyth Network to enhance real-time data feeds for gaming and DeFi

Crypto Ecosystems • August 14, 2024, 10:00AM EDT

Quick Take

The partnership focuses on integrating Pyth’s oracle service into TON, allowing on-demand price data requests to support developers on the blockchain.

Pyth Network announced Wednesday that it has partnered with The Open Network (TON).

The partnership mainly involves Pyth’s oracle service, which allows users to request price data on-demand. Pyth will support games on the TON blockchain by providing accurate data feeds to help developers create improved in-game economies.

Pyth's oracle will help TON projects expand their audience globally by feeding real-time price data, which it deems necessary for DeFi services that strive to offer fast transactions.

In addition to gaming and DeFi, Pyth added it expects its service to help TON attend to new Web3 users who expect the same level of responsiveness as they received from Web2 services.

Originally designed for the Solana blockchain, Pyth Network operates across over 70 blockchains, including Solana, Ethereum, Optimism, Arbitrum and Base. It provides market data for cryptocurrencies, equities, FX and commodities.

Meanwhile, the TON network experienced significant user growth and increased adoption throughout this year, led by casual games on the Telegram messaging app. It currently holds a total value locked of over $600 million.

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About Author

Danny Park is an East Asia reporter at The Block writing on topics including Web3 developments and crypto regulations in the region. He was formerly a reporter at Forkast.News, where he actively covered the downfall of Terra-Luna and FTX. Based in Seoul, Danny has previously produced written and video content for media companies in Korea, Hong Kong and China. He holds a Bachelor of Journalism and Business Marketing from the University of Hong Kong.