Abstract
Swellchain, a restaking-powered network built on the OP Stack. To ensure continued high-quality execution and security for DeFi applications in the ecosystem, Swellchain requires access to reliable and trustworthy price data. Integrating Pyth oracles directly on Swellchain would provide this essential data source, not only benefiting existing applications but also attracting new DeFi protocols to the Swellchain ecosystem.
Rationale
Swellchain’s innovative Proof of Restake mechanism creates a unique environment where reliable price data is critical for several reasons:
- LRT-specific operations: Accurate price feeds are essential for the specialized LRT transactions and state management that form Swellchain’s core focus.
- Multi-layered security enhancement: Pyth’s high-quality data would complement Swellchain’s security infrastructure
- Cross-chain LRT activities: As part of the Optimism Superchain, Swellchain enables seamless asset transfers that require reliable price information for optimal execution.
The integration of Pyth would directly support Swellchain’s mission to be “the most value-generating environment for LRTs” by providing the data backbone for advanced financial applications.
Request
The Swellchain team requests Pyth Network’s support in deploying oracle data feeds on both Swellchain mainnet (Chain ID: 1923) and testnet (Chain ID: 1924). This strategic partnership would strengthen the infrastructure for our emerging ecosystem of LRT-focused applications and support our roadmap toward offering specialized yield-generating strategies. We propose establishing a price-per-update fee that ensures long-term viability while encouraging ecosystem growth.
Swellchain References
Website: https://swellnetwork.io
Explorer: https://swellchainscan.io/
Documentation: https://build.swellnetwork.io
Blog: Swell Blog
Official Discord: Swell
Official X: https://x.com/swellnetworkio