IOTA EVM Boosted by Supra Oracles for Enhanced Smart Contract Data Accuracy

• Supra Labs’ oracle services integration with IOTA EVM boosts data accuracy and timeliness, essential for real-time analytics and decision-making in DeFi applications.
• This partnership ensures high availability and redundancy, empowering developers to innovate with advanced trading systems and financial platforms, positively impacting IOTA’s market performance.

Following CNF’s recent update about IOTA EVM’s integration with Goldsky, streamlining data access and enabling real-time analytics for applications, a new update has been made with IOTA EVM’s integration with Supra Labs, enhancing data accuracy and timeliness.

Supra Labs supports Super dApps with the full vertical integration of entire core blockchain services into one high-throughput, Multi-VM compatible Layer-1. Therefore, as announced by IOTA through its recent tweet, this upgrade is expected to support real-time data for smart contracts, ensuring high availability and fostering 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

Furthermore, as detailed in an official post from the IOTA Foundation on July 16, 2024, there are two reasons that DApp builders require frictionless access to timely and accurate data: first, to ensure real-time decision-making (especially important for decentralized finance), and second, to execute smart contracts that can improve user experience, security, and overall efficiency.

IOTA EVM with Supra Labs advances trading to financial services platforms

With the integration of Supra’s oracle services, IOTA EVM gains access to an important part of the infrastructure, adding redundancy to assure uninterrupted uptime, which is pivotal for a top-notch and thriving ecosystem. This partnership empowers developers and builders with the necessary tools to create innovative products and services, from advanced trading systems to extensive financial services platforms.

It is further detailed that Supra is a first-party oracle service that includes DEXs, lending protocols, and derivatives platforms. It currently supports over 85 networks, including BNB Chain, Ethereum, Optimism, Sui, and many more. At the time of writing, IOTA is trading at $0.174, having surged by 5.84% in the past day and 12.31% in the past week, reflecting a positive signal of the new integration to the IOTA market. See the IOTA Price chart below.