Demex Daily #219: Pyth Network and TON Boost Web3 with Advanced Data Partnership

What’s Interesting Today:

Pyth Network and TON Blockchain have teamed up to enhance the developer ecosystem on The Open Network (TON) by providing high-quality data through Pyth's oracle system. This alliance aims to boost the performance of applications on TON by offering rapid, efficient, and reliable data, crucial across various sectors including finance, gaming, and consumer services. Pyth, which already manages substantial volumes and supports significant value across numerous chains, will help integrate millions of Telegram users into Web3. This will enhance interactivity, responsiveness, and scalability of platforms. The partnership represents a significant advancement toward fostering a comprehensive, data-driven Web3 ecosystem.

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Eigen Labs is preparing to introduce Permissionless Token Support to the EigenLayer protocol, which will allow the integration of any ERC-20 token as a restakable asset. This enhancement will enable Application-Specific Virtual States (AVSs) to leverage various ERC-20 tokens to bolster cryptoeconomic security across the network, promoting interoperability and security enhancements. AVSs will have the flexibility to tailor their security profiles, incorporating a variety of tokens including community-owned tokens, stablecoins, and BTC-denominated tokens. This update will be implemented at the protocol level using new smart contracts and is currently being tested on the testnet. Mainnet deployment is expected next week, with updates to the staking app interface slated for later in Q3.