It’s been a little more than a month since Pyth Network made its appearance.
That same day, we announced our goal of creating a next generation oracle solution that will bring high fidelity, fully streaming financial data to DeFi.
The outpour of excitement and optimism for Pyth has been overwhelming. Thank you everyone for your support and patience.
Pyth Network is a new and specialized oracle solution for latency-sensitive financial data that is typically guarded behind the “walled gardens’’ of centralized institutions. Pyth is focused on finding a new and inexpensive way to bring this unique data on-chain and aggregating it securely. These features are made possible thanks to Solana’s ultra-low costs, our aggregation methodology based on formal likelihood methods, and our data partners who can provide institutional-quality crypto and tradfi data. We envision Pyth becoming a key driver behind DeFi’s global adoption and complementary to current oracle solutions.
The community has been eager to test our oracle solution and take a deeper dive into Pyth’s technology. We’re also excited to reveal what’s under the hood.
In this spirit, we are delighted to announce that Pyth Network will be taking part in the upcoming Solana Season Hackathon.
Our Participation in the Hackathon: the Pyth Prize!
We see the Hackathon as an incredible opportunity to showcase what we and others are building, interact with dev teams, show them how to integrate with our oracle network, as well as collect valuable feedback from the community and other projects.
As many of you know, the Solana Season Hackathon will run from May 15 to June 7 and will feature keynote events and project-led workshops for developers and technically-savvy supporters.
We look forward to seeing you at our very own workshop on:
- Thursday, May 20, 6pm PST
In addition, we have also decided to shake things up and help bolster further innovation within the Serum and Solana ecosystems by offering a $25,000 reward for the best hackathon project integration with Pyth Network.
Last but not least, we invite all hackathon participants who are interested in integrating with an oracle solution to reach out to us!
We’ve opened up the github for you to begin to integrate Pyth into your wildest creations. https://github.com/pyth-network/pyth-client/tree/main/doc
The Pyth Network Discord server is set up to accommodate developers. The admins there will be ready to answer any questions, including questions about learning resources and how to get in further touch with dev teams. We look forward to providing documentation with clear integration examples and discussing potential synergies with interested teams!
The excitement doesn’t end there.
We are drawing back the enigmatic curtains through our website to give visitors a peek into Pyth Network capabilities. If you check out our markets page, for example, you’ll see live devnet pricing action coming directly from the solana network.
You might also stumble onto another value called Confidence on our new site. Confidence is an aggregated computation of designed to estimate how far the aggregate price might be from the “true price.” Confidence reflects a combination of the stated uncertainty of individual quoters and how well individual quoters agree with each other.
We can’t wait to show you what’s next in our pipeline. The support and positivity we have received up to this point has been incredible.
We will keep everyone updated on our progress and new events as they emerge. And as always, we encourage you to get in touch if you are building something that could benefit from a fast and reliable oracle for financial market data or if you have the legal right to publish a unique set of latency sensitive data.
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