Jump to content

Why the Pyth Network hype? 

Recommended Posts

Pyth network is a blockchain oracle that is designed to provide reliable, low-latency market data from institutional sources to secure smart contracts with high-fidelity oracle feeds. It is the largest first-party Oracle network for publishing financial market data on-chain, sourcing its data from over 90 first-party data providers, including some of the biggest exchanges and market makers. The network aggregates data from these sources and sends it directly to Solana nodes for aggregation, ensuring that the network provides more trustworthy data than other third-party aggregators. Pyth Network's data feeds are engineered to meet the security, accuracy, and reliability standards of DeFi, and 230+ apps trust Pyth data, including DEXs, lending protocols, and derivatives platforms.

While Pyth Network is a significant player in the Solana ecosystem, it is not the only one. Other oracle networks such as Chainlink and Band Protocol also provide similar services. 

So why is Pyth network trending? The project airdropped over 255 million tokens to up to 90k Solana wallets, this sparked a lot of interest and generated huge exposure for the project. So many top-tier exchanges have already listed the token though price dip after listing, it is expected for an airdropped project. Users who missed the airdrop have resorted to other means of earning free airdrops like the Bitget 10K deposit and trade opportunity.

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Create New...