Smarter Data for Smarter Contracts! Follow Along the Pyth Journey!
The Pyth network is designed to unlock real-world financial data and bring it on-chain.
Welcome to the Pyth Network Substack!
Pyth is a specialized oracle solution for latency sensitive financial market data. It seeks to aggregate high quality, first party data in advanced ways and publish at sub second speeds made available on multiple blockchains.
Why are we doing this?
We think DeFi will grow and could reach multiple trillions of dollars in TVL
The oracle problem for latency sensitive, continuous data needs to be solved
Data has become an expensive and centralized business
We believe in fair and transparent markets governed by users
Pyth is built on the Solana blockchain, which allows our data providers to continuously update prices at every slot (block for Bitcoin) : that’s once every 400ms — more than 200,000 updates daily! Pyth’s throughput will also increase alongside Solana’s scaling. Our oracle solution will also extend first to Ethereum and Terra, thanks to Wormhole, in order to provide HiFi data to the whole DeFi ecosystem.
Our network has attracted some of the largest traders, exchanges, and financial services players who own unique, high quality market data but for whom selling this data is not a primary business. This includes real world market data in crypto assets, equities, bonds, FX, futures, and commodities.
Examples of such data publishers in our network include Jump Trading Group, GTS, LMAX, Virtu, BSX, Genesis Global Trading, FTX, CTC, IEX Cloud, Akuna Capital, CMS Holdings and many more to be announced.
Pyth network will harness their data through an advanced aggregation method to create new, reliable, and decentralized sources of high quality composite market data. Alternatives to such data are not readily available, as this data normally resides behind the walled gardens of some of the world’s largest organizations.
About Pyth Substack
This bi-monthly newsletter - starting from now - will hand you all the latest updates regarding the Pyth network. Data providers reveal, partnership with dApps, in-depth dives into the Pyth network protocol, how other protocols leverage HiFi Pyth market data and confidence values as well as many other exciting topics!
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