Key Points

• Welcome to Ronin, Pyth Network! Pyth Network publishes fast and reliable price feeds for blockchain assets – and more. 
• Pyth Network will provide market data for DeFi projects and the upcoming RNS launch.
• As we decentralize Ronin, it’s important to give developers great tools. Here are Pyth’s docs: https://docs.pyth.network/documentation

The price of a token is more than a number: it’s the expression of investors’ sentiment and conviction towards an asset. The most-trusted price feeds are the ones that can communicate this information with accuracy and timeliness. That’s why we’re excited to welcome Pyth Network to Ronin! Pyth Network is a fast and reliable price oracle that already operates on over 35 blockchains including Bitcoin and Ethereum – and now Ronin! Here’s what this means for our movement:

How Pyth Network will Support Ronin

Pyth Network is a blockchain oracle for market data. In other words, they make price feeds like CoinGecko or CoinMarketCap. In general, price data updates in seconds with Pyth Network’s oracle, while off-chain information often updates in less than a minute. That means you’ll now be able to see real-time updates of asset prices faster than ever on Ronin. The first application to leverage Pyth is the Ronin Name Service (RNS), which is integrating the Pyth RON/USD price feed as its trusted price oracle. This integration empowers RNS contracts with dependable exchange rates, ensuring that RNS name registrations and renewals are consistently priced in USD, but with the purchase of those names still being paid for in RON.

Additionally, another application that may benefit is Metalend. MetaLend is an algorithmic money-market protocol enabling users to earn a yield on their assets while accessing extra liquidity if needed. Thanks to the Pyth Price Feeds, Metalend will be able to continuously value the assets supported and the various positions on the protocol to ensure it remains over-collateralized and healthy.

How Developers can use Pyth 

Developers are the lifeblood of any decentralized blockchain. That’s why we created the Developer Portal earlier this year, and shared access to the Ronin RESTful API a few weeks ago. Today, we’re putting a new tool in the hands of our developer community thanks to Pyth. Integrate Pyth price feeds into what you’re building, publish data to the Pyth Network, and learn more about Pyth using Pyth Network’s comprehensive documentation. It’s all right here:

Final Thoughts

Over the past year, we’ve seen prices of blockchain assets rise and fall a lot. This week, the price of Bitcoin made the news after increasing by double-digit percentages. Asset prices matter to our industry, and price oracles play an important role in communicating that information. We’re excited to partner with Pyth Network to provide fast and reliable market data to our community – and those who will join it soon.