Pyth Network Integration into IOTA Rebased Testnet

Pyth Network, a decentralized network providing real-time financial data, is now live on the IOTA Rebased Testnet in preparation for its launch.

By delivering high-frequency price updates sourced from institutional-grade providers, Pyth Network ensures developers have access to accurate market data.

IOTA has announced via its X account a collaboration with Pyth Network, launched in 2021, to integrate real-time price feeds into its IOTA Rebased testnet. This partnership is designed to enhance the IOTA ecosystem by offering developers secure market data, paving the way for innovative decentralized applications (dApps).

> 📣 @PythNetwork Core will integrate into the new #IOTA L1 mainnet! Pyth’s price feeds are used on over 100 blockchains & serve more than 500 apps, empowering our builder community! 🛠️
>
> 🌐 Starting today, @PythNetwork is live… link
>
> — IOTA (@iota) February 28, 2025

As part of this integration, Pyth Network’s infrastructure will be incorporated into the IOTA L1 mainnet, allowing developers seamless access to decentralized price feeds across various assets.

Strengthening IOTA’s DeFi Ecosystem

This integration fortifies IOTA’s position as a DeFi and Web3-friendly ecosystem supporting financial applications, lending protocols, and decentralized exchanges (DEXs). Pyth’s price feeds are available on over 100 blockchains, utilized by over 500 applications, including Ethereum, BNB Chain, Avalanche, and other leading blockchains.

Developers looking to build on IOTA can apply for the iotalabs Builder Program, which provides funding, mentorship, and infrastructure support for projects on IOTA’s MOVE-based L1.

Real-time market data from Pyth Core currently powers DeFi projects on IOTA, such as DeeprFinance, Virtue Money, Cyberperp, and iolendfi, which focus on improving liquidity, security, and efficiency within the IOTA financial applications. Pyth Network enhances data accuracy and protects against oracle manipulation in DeFi applications.

Additionally, developers can leverage Pyth’s data for advanced financial tools like DEXs, lending/buying apps, and derivatives markets.

Overview of IOTA Rebased

IOTA Rebased is an upgrade to IOTA’s distributed ledger technology (DLT) that enhances scalability, decentralization, and programmability. This shift, determined by a governance vote, replaces the original IOTA 2.0 roadmap for expedited adoption and usability.

The upgrade features Move Virtual Machine (MoveVM) integration, transitioning from a UTXO model to an object-based ledger for improved programmability, advanced smart contracts, and support for complex DeFi/Web3 applications.

Furthermore, IOTA Rebased introduces staking rewards, giving IOTA tokens real utility while enabling token holders to stake assets, secure the network, and earn rewards. The IOTA Foundation has also partnered with leading infrastructure providers and validators to boost security and performance.

Currently, IOTA trades at $0.2023, reflecting an 8.05% increase over the past week despite an 8.22% decrease over the last 7 days. Its trading volume has decreased by 21.37%, settling at $37 million.