Osmosis Governance: What Does It Mean for the Ecosystem?
Learn how Osmosis governance has enabled the use of PythNetwork's low latency oracle to power the Osmosis ecosystem. Find out how users can access the most accurate market data in real-time and how the oracle provides access to over 200 price feeds.
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Osmosis 🧪
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Osmosis governance has spoken 🏛@PythNetwork low latency oracle will now power Osmosis 🧪
— Osmosis 🧪 (@osmosiszone) June 2, 2023
But what does this mean for the Osmosis Ecosystem? 🧵 -
1/ With @PythNetwork, everyone can access the most accurate market data in real-time:
— Osmosis 🧪 (@osmosiszone) June 2, 2023
Thanks to their low-latency pull oracle design, users can request data updates as needed to get the most up-to-date price information in a blockchain environment. -
2/ With over 200 price feeds covering everything from stocks and commodities to forex and crypto. @PythNetwork allows Osmosis builders to instantly access any data they need in a permissionless manner.https://t.co/tjBMnsfg67
— Osmosis 🧪 (@osmosiszone) June 2, 2023 -
3/ This means applications built on Osmosis will have the ability to expand beyond even more assets.@mars_protocol, which currently relies on Osmosis TWAP for price data for listed assets, could see an expansion of listed assets as long as the Martian Council approves it.
— Osmosis 🧪 (@osmosiszone) June 2, 2023 -
4/ Governance approved the deployment of @PythNetwork contracts with overwhelming support. 🎉🎊
— Osmosis 🧪 (@osmosiszone) June 2, 2023
86.4% of the Osmosis community voted to deploy the Pyth smart contract. pic.twitter.com/6pbcqANCVD -
5/ As the premier DeFi Hub for the Cosmos, Osmosis is thrilled to join the 50+ chains and applications utilizing Pyth's data feeds, including @dYdX , @Injective_ , and @cronos_chain, to name a few.
— Osmosis 🧪 (@osmosiszone) June 2, 2023
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