Pyth Network Unveils Price Feeds For W/USD And USDB
These are the two latest price feed tickers available at Pyth Network.
Price feed oracle and market data provider Pyth Network has released new price feeds for two blockchain tokens: W and USDB.
According to a press release shared with CryptoPotato, both price feeds have become available on roughly 50 blockchains that have integrated Pyth in their protocols.
Pyth Launches Price Feeds For W And USDB
W is the governance token for Wormhole, a cross-chain messaging platform that allows developers to build interoperable decentralized applications. Although Wormhole launched its protocol three years ago, the platform released W on April 3, with an initial circulating supply of 1.8 billion and a maximum supply of 10 billion.
Around 82% of W are currently locked and will be unlocked over a four-year vesting period, according to a Token Release Schedule that allocates 17% and 23.3% to the Wormhole community and foundation treasury, respectively.
On the other hand, USDB is the native stablecoin of Blast, a new layer-2 network built on Ethereum that provides native yield for ether (ETH) and stablecoins. Before the protocol’s mainnet launch on February 29, Blast amassed over $2 billion in total value locked and a community comprising 180,000 members.
Blast was created by the team behind the leading non-fungible token marketplace Blur, led by its founder, Tieshun Roquerre, also known as Pacman. The layer-2 network offers up to 4% and 5% interest for ETH and stablecoins, a yield rate that the crypto community thinks is too good to be true.
PYTH Down 4.5%
Interestingly, rumors have been making the rounds that Blast is a Ponzi scheme because of its model and seemingly unsustainable yield rates. However, Pacman has debunked the rumors, clarifying that Blast’s yields are sustainable as they come from the liquid staking protocol Lido and T-Bills on decentralized finance (DeFi) protocol MakerDAO.
“The Pyth W/USD price feed is now available on more than 50 blockchains. Another instance of Pyth answers the call of DeFi and releases super hot price feeds across multiple blockchains extremely quickly, unlike other oracles,” Pyth stated.
Meanwhile, Pyth’s native token, PYTH , has fallen 4.5% in the past 24 hours and over 7% in the last seven days. On the contrary, the asset is up 27% in the past month and was trading at $0.84 at the time of writing, per data from CoinMarketCap.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin, XRP and Vantard (VTARD) capture investors’ attention with price gains
The Daily: Dogecoin investors drop class-action lawsuit against Elon Musk, Michael Saylor plans $100K bitcoin party and more
Dogecoin investors have dropped their class-action lawsuit against Elon Musk, which accused him of manipulating the price of DOGE during its 2021 surge from less than $0.10 to around $0.70.JPMorgan analysts anticipate positive regulatory changes for crypto under President-elect Donald Trump, with clearer frameworks likely to benefit the industry.President-elect Donald Trump nominated bitcoin advocate Robert F. Kennedy Jr. for U.S. Secretary of Health and Human Services on Thursday.The following article is
Matrixport Included Developments That Will Affect Bitcoin in December in Its Weekly Report! Here Are the Details
Matrixport's latest weekly report highlights a number of positive factors that have underpinned Bitcoin's recent strong performance.
Trump's Inflow Wave Has Ended! Spot Bitcoin and Ethereum ETFs Experience First Outflows Since Election!
It ended a wave of inflows and outflows in spot Bitcoin and Ethereum ETFs that has been ongoing since Donald Trump was elected president on November 5.