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Sonic Labs and Pyth Network team up to strengthen DeFi infrastructure

Sonic Labs and Pyth Network team up to strengthen DeFi infrastructure

GrafaGrafa2024/08/31 11:25
By:Mahathir Bayena

Sonic Labs has announced a strategic partnership with Pyth Network, aiming to enhance the decentralised finance (DeFi) ecosystem.

Pyth Network shared news of this collaboration with the community on the social media platform X, stating: "High-fidelity data straight from the source is coming to @0xSonicLabs. Pyth provides DeFi builders with the supercharged infrastructure they need to create dApps that compete with apps."

This partnership is designed to equip developers with powerful tools and real-time data, facilitating the creation of next-generation decentralised applications (dApps) that can rival traditional apps.

Sonic Labs will benefit from Pyth Network's high-fidelity data feeds, which provide real-time and historical financial market data on over 500 crypto assets.

Access to accurate data from first-party providers is crucial for developers, allowing them to build dApps that respond dynamically to market changes in real-time.

The collaboration includes two key features: Express Relay and Entropy.

Express Relay helps protocols within the DeFi space redeem miner extractable value by searching for and liquidating active searchers.

Entropy enables developers to generate random numbers securely and reliably on-chain, enhancing the functionality and security of dApps.

By combining Pyth’s data with Sonic Labs' speed and agility, the partnership promises to deliver a more secure and efficient DeFi infrastructure.

Developers will gain the tools needed to advance application development in DeFi, gaming, and other areas, promoting innovation and stability within the ecosystem.

This collaboration represents a significant step forward in creating reliable, adaptive, and scalable decentralised applications.

Both companies aim to push the boundaries of what’s possible in DeFi, making the space more efficient and capable of handling complex, real-time data demands.

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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.

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