Pyth Network PYTH

The Pyth Network is an oracle network that specializes in delivering market data for decentralized applications (dApps) across over 40 blockchains. What sets Pyth apart is that the data comes directly from primary sources, including major exchanges, market makers, and financial institutions. These providers publish their own price data, which is then aggregated on-chain using algorithms resistant to outliers and manipulation, ensuring the accuracy and reliability of the information provided.

More than 90 data providers participate in the Pyth Network ecosystem, including both crypto and traditional financial institutions. The network updates price feeds every 400 milliseconds, ensuring high accuracy and low data latency. Integration with Pyth Price Feeds is permissionless, allowing developers to easily access data across various chains such as Ethereum, Arbitrum, and Solana. This architecture enables the Pyth Network to efficiently deliver reliable real-time market data to dApps.

The Pyth platform has its own native token, PYTH, which serves several key functions. First of all, it is used for token governance: token holders participate in voting on protocol development; it also serves to pay for network services, reward contributors, and stimulate ecosystem growth. The maximum token supply is 10 billion, of which 1.5 billion were in circulation at launch. The remaining 8.5 billion tokens are allocated based on a vesting schedule of 6, 18, 30, and 42 months post-launch. PYTH currently has a price of $0.0646, with a market capitalization being $371.26M, and its trading volume reaching $3.37M in the last 24 hours.