Merlin Channel announced the incorporation of Python oracle. Merlin Chain uses the ZK-Rollup network and on-chain BTC anti-fraud modules and has strengthened its position in the Bitcoin ecosystem with this integration. Pyth is known for providing real-time price data, which is an essential part of any decentralized application on any chain. Price oracles enable seamless integration of price feeds into financial dApps.
The founder of BitmapTech and Merlin Chain expressed his great enthusiasm about the partnership with Pyth. He believes that this collaboration is a key step in building a solid infrastructure for Merlin Chain and represents a major step forward for the Bitcoin DeFi sector.
With the activation of Pyth Price Feeds on Merlin Chain, developers now have direct access to a wide range of real-time data, including price feeds. The integration uses various smart contract applications, improving their security and efficiency. These applications range from trading platforms to lending platforms.
Pyth's architecture allows applications to retrieve price data on demand from the Pythnet application chain. Most current prices are available to users, ensuring both accuracy and regular updates.
Pyth data is already used in Merlin Chain's DeFi ecosystem and is now expected to power additional applications.
As for Merlin Chain itself, it is a second-layer Bitcoin solution that merges a ZK-Rollup network with a decentralized oracle and BTC anti-fraud mechanisms. Its goal is to enrich the DeFi potential of Bitcoin on its second layer, thus broadening the appeal and functionality of the cryptocurrency.
As a branch of Bitmap Tech, with a notable market capitalization of over $500 million, Merlin Chain is also attracting attention for its BRC-420 “Blue Box” collection under Ordinals.