Odaily learned that PythNetwork (https://pyth.network/) is the first cross-chain oracle machine that provides real-time institutional-level market data, and today officially announced that it will be launched on the Solana mainnet. With this release, developers can integrate Pyth real-time price feeds in existing and emerging decentralized finance (DeFi) platforms and applications. In addition to going live on the Solana high-speed blockchain, in the coming weeks, Pyth will also broadcast market data across chains via the Wormhole Network, aiming to integrate with dApps in the Ethereum, Binance Smart Chain (BSC) and Terra ecosystems intercommunication.

As one of the major trading companies participating in PythNetwork, Dave Olsen, President and Chief Investment Officer of Jump Trading Group, said: "For global market infrastructure, it is exciting for PythNetwork to be launched on the Solana mainnet. With DeFi and TradFi on the Solana block On-chain convergence continues, and we believe that Pyth has the ability to connect high-fidelity, time-sensitive, real-world data with DeFi applications and continue to play a key role in the development of the entire crypto industry.”

PythNetwork supports the release of price information at sub-second intervals, and the coverage of high-fidelity price feed data includes cryptocurrency, US stocks, foreign exchange and commodity markets. At this stage, some of the world's most established professional traders and exchanges are contributing to PythNetwork, including Jump Trading, GTS, LMAX, VirtuFinancial, MIAX/BSX, Genesis Global Trading, FTX, CTC, Akuna Capital, IEX, CMS , CoinShares, DRW Cumberland, XR Trading, Bitso, KGI Securities and Hudson River Trading.

David Mercer, CEO of LMAX Group, said: "As the first major institutional exchange to join PythNetwork, LMAX Group is very excited about DeFi and believes that DeFi can change the capital market as we know it in the next few years. We believe that, PythNetwork built on the low-latency Solana blockchain can completely change the status quo of market data supply and realize data democratization. As the scale of the DeFi ecosystem continues to expand, the launch of PythNetwork on the Solana mainnet is undoubtedly an important milestone for the encryption industry. We Looking forward to contributing to the development of PythNetwork and supporting them to become the main data oracle machine in the future market”

Solana is a proof-of-stake (PoS) blockchain with transaction speeds that almost rival Nasdaq, and the total lock-up volume of the Solana ecosystem has soared to $2.5 billion recently. Thanks to its efficient processing speed, Pyth can provide smart contracts with the most accurate market data snapshots. In addition, Pyth will also implement the function of Wormhole Network cross-chain broadcast market data in the next few weeks, which will make it a The industry's first real-time institutional-level cross-chain oracle solution.

Chris Zuehlke, DRW partner and global head of Cumberland, said: "There is a lot of innovation happening in the financial services space, most of which is driven by DeFi. As a company with a long history in traditional capital markets, we are very pleased to see that DeFi is beginning to challenge Think traditionally and offer novel solutions. The Wormhole interoperability protocol is a giant leap forward in decentralized finance, demonstrating the value of an oracle network like Pyth."

Composed of a combination of raw and derived data from trading firms and exchanges, PythNetwork is able to cover a large portion of global market activity, thereby reducing reliance on any single data source, which in turn reduces the risk of single or group data provider attacks or operational aggregation price possibility. For leading DeFi applications such as Saber Labs, Mango Markets, Bonfida, Zeta Markets, and Hxro, some are already using PythNetwork, and some will complete integration in the future, aiming to ensure the normal operation of the protocol, and in a highly reliable, fully Automated and efficient key on-chain functions in a decentralized and inexpensive manner.

Max Schneider, contributor to Mango Markets, a decentralized margin trading protocol, said: "PythNetwork can be seamlessly plugged into existing DeFi applications and introduces a new tool for developers. We are very happy to be an early supporter of PythNetwork and have now seen There are developers starting to use Pyth to innovate new perpetual futures contracts, and one developer is even using PythNetwork as a fair value estimator for their open-source market-making algorithm.”

Dylan Macalinao, co-founder and CEO of Saber Labs, said: "PythNetwork solidifies Solana's position in the DeFi market. Thanks to Pyth's tamper-proof on-chain price feed data, Saber can be combined with other DeFi protocols and provide users Providing real-time price data, Pyth's strong network of institutional partners is a testament to their trust and value in the ecosystem."

If you want to learn more about Pyth, visit https://pyth.network/ or follow @PythNetwork on Twitter.

About Python

PythNetwork is a purpose-built oracle solution for latency-sensitive financial data, which is typically kept in a centralized institution's "walled garden" backend. PythNetwork is focused on finding a new, low-cost way to on-chain and securely aggregate this unique data with DeFi and applications. For more information on the Python network, visit pyth.network.