Introducing New Oracle Price Feeds for DeFiChain

May 22, 2024

The vast majority of DeFi services rely on a service called “blockchain oracles.”  These are secure and reliable methods for blockchain applications to obtain financial data from external sources.

While DeFiChain and the projects built on MetaChain have utilized DeFiChain's proprietary Oracles, developers from various projects have consistently expressed a need for an enhanced Oracle system. 

This need has now been addressed with the integration of Supra and Pyth Network via Javsphere.

Supra Rolls out DORA Price Feeds

Supra's DORA (Distributed Oracle Agreement) price feeds have officially launched on DeFiChain, marking a significant stride towards improving the trustworthiness and reliability of data within DeFiChain's decentralized applications (dApps).

Supra's DORA now delivers Oracle price feeds directly on the DeFiChain blockchain. These feeds bring several key advantages, including real-time data access, enhanced reliability, and seamless integration for developers. 

Furthermore, they improve data accessibility for both users and applications, effectively supporting a wide array of blockchain projects by addressing their critical data needs.

Supra Advances Blockchain Data Integrity and Interoperability

By leveraging node consensus for accurate data, DORA significantly enhances the dependability and functionality of smart contracts. It is crucial for sourcing and verifying high-quality data, essential for blockchain interoperability and data amalgamation.

DORA seamlessly integrates with Supra’s Moonshot consensus algorithm and distributed Verifiable Random Function (dVRF), ensuring robust security and superior performance with low latency and high network reliability. 

This adaptability to market changes highlights DORA’s advanced capabilities. Supra's HyperNova initiative further amplifies these capabilities, demonstrating a strong commitment to advancing blockchain data integration.

DORA's emphasis on data integrity provides blockchains with accurate, real-time data, which is critical for the DeFi sector. By focusing on node consensus and data authenticity, DORA enhances smart contracts within the Web3 ecosystem, driving innovation and efficiency. This propels smart contract and Web3 applications forward, ensuring their success in the evolving digital landscape.

Javsphere’s Oracle System powered by Pyth Network

As part of their ongoing efforts to enhance the DeFiChain ecosystem, Javsphere recognized the need for a robust Oracle system to power their upcoming products. 

They decided to approach this by extending these price feeds to any project building on the MetaChain layer, providing access to their Oracle system powered by the Pyth Network.

The price aggregator has already been deployed on the testnet, where new prices are fed every 3 minutes. 

In the coming days, Javsphere will deploy it to the mainnet and add feeds for the DFI price and additional assets.

Developers can find comprehensive information about the Oracle system and its integration within the Javsphere documentation.

Final Words

The integration of new Oracle price feeds from Supra's DORA, and Javsphere's Pyth Network-powered system is a significant advancement for DeFiChain. 

Supra's DORA enhances the security and functionality of decentralized applications by providing real-time, accurate data, enabling developers to create more robust and trustworthy applications.

Javsphere’s collaboration with the Pyth Network brings a comprehensive Oracle solution to the MetaChain layer, offering developers reliable and timely financial data. 

These advancements solidify DeFiChain's position as a leader in DeFi, driving the future of a secure, transparent, and interoperable financial ecosystem.


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