Pyth is a first-of-its-kind data oracle network that introduces a new design to maximize access to information in a safe way on-chain that strips out middlemen costs. Hi-fi for DeFi Pyth connects high-fidelity market data from the world’s largest professional traders and exchanges to any smart contract, anywhere. This design enables maximum scalability and growth of on-chain financial market data with exciting potential for off-chain as well.
Pyth — a crypto project built by some of the world’s largest high-speed traders — is to add a governance token to its network, in a bid to spur users to supply top-quality data to its feed of trading prices. The digital token, called PYTH, could bring its owners fees from the information they supply to the Pyth project. Pyth acts as a price feed of data from equity, conventional currency, crypto and commodity markets. The data is published on a blockchain anonymously in less than a second, and can be used for other crypto projects.
Crypto project launches token to provide incentive to data suppliers
January 18, 2022
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