In Brief:
- FTX, DRW, Cumberland, Virtu, LMAX IEX amongst contributors
- In coming weeks, Pyth plans to combine with Wormhole interoperability protocol
Real-time market data provider Pyth Network on Solana, a high-performance blockchain, is going live Thursday, August 26.
According to the announcement, Pyth Network is launching on Solana mainnet. The mainnet setup allows developers to integrate Pyth network’s real-time market data into decentralized finance(DeFi) applications.
Pyth publishes at sub-second intervals and provides coverage of high-fidelity streaming data from cryptocurrency, foreign exchange, and commodities markets. Pyth Network connects market data from these trading firms and exchanges to any smart contracts through the Solana blockchain. The decentralized nature of Pyth Network means it does not rely on a single data source manipulating the aggregate price.
Pyth network received contributions from high-profile traders and exchanges. It includes Jump Trading, LMAX, Virtu Financial, MIAX/BSX, Genesis Global Trading, FTX, IEX, Coin Shares, and DRW Cumberland.
Also Read: Chainlink Price Feeds Now Running Live On the Solana Devnet
“We believe the pyth network, built on the low-latency solana blockchain, can revolutionize and democratize market data provision,” said David Mercer, Chief executive of LMAX Group.
In the coming weeks, Pyth plans to combine it with Wormhole interoperability protocol. It allows it to communicate with decentralized applications or dapps across Ethereum, Binance Smart Chain, and Teera ecosystem.
