- Pyth Network, a decentralized network that provides real-time financial data to blockchains, is live on the IOTA Rebased Testnet as it prepares to launch.
- By providing high-frequency price updates sourced from institutional-grade providers, Pyth Network ensures that developers have access to accurate market data.
IOTA has officially announced on its X account a collaboration with Pyth Network, a decentralized oracle solution launched in 2021, to integrate real-time, high-quality price feeds into its IOTA Rebased testnet. This partnership is set to enhance the IOTA ecosystem by providing developers with secure and accurate market data, empowering them to build advanced decentralized applications (dApps).
📣 @PythNetwork Core will integrate into the new #IOTA L1 mainnet! Pyth’s price feeds are available on more than 100 blockchains & used by 500+ apps, so we are thrilled to secure this essential infrastructure for our builder community🛠️.
🌐 Starting today, @PythNetwork is live…
— IOTA (@iota) February 28, 2025
As part of this integration, Pyth Network’s core infrastructure will be embedded directly into the IOTA L1 mainnet, ensuring that developers have seamless access to secure and decentralized price feeds for a wide range of assets.
Pyth Network Integration into IOTA L1
This integration strengthens IOTA’s position as a DeFi and Web3-friendly ecosystem, supporting financial applications, lending protocols, and decentralized exchanges (DEXs). Notably, Pyth’s price feeds are already available on over 100 blockchains and actively utilized by more than 500 applications, including EVM-compatible chains like Ethereum (ETH), BNB Chain, and Avalanche (AVAX), as well as Cosmos-based blockchains, Solana (SOL), Aptos, Sui, TON, and NEAR.
As stated in the announcement, developers interested in building on IOTA can apply for the iotalabs Builder Program, which supports projects on IOTA’s upcoming MOVE-based L1 by offering funding, mentorship, and infrastructure support.
Real-time market data from Pyth Core is already powering several DeFi projects on IOTA, including DeeprFinance, Virtue Money, Cyberperp, and iolendfi, which help increase liquidity, security, and efficiency across IOTA-based financial applications. The integration of Pyth Network enhances data accuracy by ensuring reliable and precise price feeds, preventing oracle manipulation in DeFi applications.
Furthermore, developers can expand their capabilities by using Pyth’s data to build sophisticated financial tools such as decentralized trading platforms (DEXs), lending and borrowing applications, and derivatives markets.
What Is IOTA Rebased?
As we covered in previous reports, IOTA Rebased is an upgrade to IOTA’s distributed ledger technology (DLT) that will focus on enhancing scalability, decentralization, and programmability by integrating well-established DLT frameworks. This shift moves away from the original IOTA 2.0 roadmap, aiming for faster adoption and real-world usability.
The IOTA community played a key role in this decision, with a governance vote held between December 2 and December 17 resulting in 98.37% of IOTA token holders supporting the upgrade, demonstrating strong community consensus.
A key component of IOTA Rebased is the Move Virtual Machine (MoveVM) integration, replacing the current UTXO (Unspent Transaction Output) model with an object-based ledger. This transition improves programmability, supports advanced smart contracts, and enables complex DeFi and Web3 applications while introducing parallelized support for both EVM and MoveVM.
Additionally, IOTA Rebased introduces staking rewards, giving IOTA tokens real utility, allowing token holders to stake assets, secure the network, and earn rewards. To further strengthen the upgrade, the IOTA Foundation has already partnered with several leading blockchain infrastructure providers and validators, including Nansen, Ankr, Nodes.Guru, Cosmostation, InfStones, and Stakin.
These collaborations enhance IOTA’s validator network, boosting security, decentralization, and overall performance. Currently, IOTA is trading at $0.2023, reflecting an 8.05% increase over the past week and a slight 8.22% decrease in the last 7 days. Its trading volume has decreased by 21.37% to settle at $37 million.
