- IOTA EVM has integrated Supra Oracles to offer real-time and verifiable data into the ecosystem’s smart contracts, enhancing data’s precision, accuracy and timeliness.
- It follows the integration of Supra’s price feeds a month ago and comes just days after Goldsky integrated its crypto indexing services.
IOTA EVM has announced the integration of Supra Oracles to provide ecosystem builders with real-time, actionable and verifiable data in their decentralized applications.
IOTA announced the integration on Tuesday, saying it would “support real-time data for smart contracts, ensure high availability and foster innovation in our RWA-centric DeFi ecosystem.”
✨ Great news! @SUPRA_Labs has integrated #IOTA EVM, enhancing data accuracy and timeliness. This upgrade supports real-time data for smart contracts, ensures high availability and fosters innovation in our RWA-centric #DeFi ecosystem. 🧵👇https://t.co/fHljv6l7kD pic.twitter.com/tgvtzAi6oC
— IOTA (@iota) July 16, 2024
Supra Oracles is an oracle service built on the Layer 1 blockchain network Supra. While the service and the chain are relatively new, they already support over 85 blockchain networks, from Ethereum and BNB to Polygon and Hedera, as we reported.
While dApps are built with the latest technology and offer cutting-edge services, the one thing blockchain networks lack is access to real-world data. For instance, if a DeFi app operates on IOTA, it would need access to the real-time price of MIOTA to function properly. This is where oracles come in, connecting on-chain dApps to the off-chain world.
Supra Oracles has emerged as one of the biggest disruptors in this field and has been racking up new partnerships and integrations every other week. This service is built on Supra, a network whose upcoming token generation event is set to spark an airdrop to over 500,000 users, all of whom have been individually KYC-verified to curb bots, a first in the crypto space.
IOTA EVM’s team commented:
Supra Oracles is an important building block in bolstering the resilience of the network. By seamlessly incorporating real-time and verifiable data into smart contracts, builders and innovators gain an important tool to build robust and performant dApps.
For any great oracle service, one key requirement is real-time data as things change quickly in the crypto world. Supra is ahead of most rivals on this front, with price updates being pushed in sub-second intervals to ensure perfect data availability.
The integration of Supra Oracles will offer IOTA EVM developers the tools they need to build the next wave of dApps, “adding redundancy to assure uninterrupted up-time, which is pivotal for a top-notch and thriving ecosystem.”
Dominik Schiener, the IOTA founder, commented on Twitter:
Love to see it all coming together on IOTA EVM. We are getting ready for prime time on IOTA, and just in time for the market to get more exciting. Until then it’s building time.
This isn’t IOTA EVM’s first partnership with Supra. Last month, Supra integrated its price feeds into IOTA EVM and its staging network, ShimmerEVM. The price feeds are underpinned by a robust network of interconnected nodes under the Distributed Oracle Agreement (DORA).
The announcement comes just days after Goldsky, a leading crypto indexer, integrated its solutions into IOTA EVM, as CNF reported.
On the trading floors, IOTA changes hands at $0.173, gaining just under 4% in the past day to bring its total weekly gains to 12%.
