KCC Is Now Supported By Oracle Network Pyth

Oracle network Pyth announced it had added support for KuCoin Community Chain (KCC). Applications in the ecosystem can now permissionless request and consume Pyth’s price feeds.

Starting today, KCC apps may request and consume any of Pyth’s 150+ price feeds for stocks, commodities, FX pairings, and cryptocurrencies from the Pyth on-chain smart contract without requiring authorization.

Leandre, a core member of the KCC GoDAO Foundation, said:

“Pyth is a compelling solution that unlocks smarter data for smarter contracts and enables exponential growth of DeFi. We are proud to offer our users and developers a better and more accessible user experience through the network’s robust market data.”

Prices are initially published by Pyth’s data suppliers to the Pyth on-chain application for aggregation.

Wormhole, the cross-chain message-passing protocol, is subsequently used to send the aggregate outputs to KCC. Anyone can send signed price update messages to the Pyth contract running on the chain.

The contract then validates the Wormhole communication and changes the on-chain Pyth price to reflect the new price. This newly revised pricing is available to all apps in the chain.

Furthermore, Pyth announced that MojitoSwap, a KCC-based DEX, will become a new Pyth data publisher. Torches Finance and KuSwap are two of Pyth’s other KCC partners.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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