Pyth Publisher Series: XR Trading
We are excited to release the fourth installment of the Pyth Publisher Series, featuring Matt Haraburda, President of XR Trading!
Pyth has garnered interest across the worlds of crypto and traditional finance. Over 75 data publishers have now joined the network, and each publisher has their story to tell.
In today’s discussion, led by Stephen Kaminsky, a contributor to Pyth from Jump Crypto, we hear from Matt Haraburda at XR Trading, a proprietary market-making firm. XR Trading joined the network very early in its journey: August 2021, only a few months after becoming public. What inspired them to join the Pyth network and to contribute to their data? What do they envision for the future of blockchain and decentralized finance? Matt provides a thoughtful and positive outlook.
SK: XR Trading became a core data provider partner to Pyth way back in August 2021! Some time has certainly passed, but what drove the XR team to join Pyth in the first place?
MH: As a principal trading firm, XR Trading is a market maker in a variety of financial instruments. Making prices — and using technology to do that well is at the core of what we do. Delivering that data to the Pyth network is a unique and new way to utilize this price information, and in doing so is providing valuable information at little to no cost for the projects and protocols consuming them.
What about DeFi and the broader oracle landscape is most compelling to you?
Access to financial markets and quality market data can be costly and cumbersome — even for professional trading firms. Innovation in matching buyers and sellers, in addition to democratizing the distribution of data, is key to addressing these issues. DeFi and the use of oracles addresses these issues in a truly revolutionary way.
How does Pyth factor into your market data and/or crypto strategy?
Pyth is a compelling, innovative solution that allows us to distribute our pricing.
What are your views on the future of DeFi and/or oracle solutions in general? What would you like to see?
Improvements in investor protection. This can come in the form of regulatory innovation or technology solutions. Likely will be a combination of both. But it needs to come if there is ever to be widespread acceptance and adoption.
What are your thoughts on the current state of blockchain technology?
I think we are still in the earliest of days.
How do you see the continuous evolution of CeFi vs. DeFi and TradFi vs. DeFi?
They are all very different things. Over time you are going see each area take from and adapt the best ideas from each space. At some point, they will be indistinguishable from each other. One other element of Pyth we find so interesting, exciting, and compelling, is that it is helping to connect players in all of these various ecosystems, ultimately enabling a greater solution for all.
We can’t wait to hear what you think! You can join the Pyth Discord and Telegram, follow us on Twitter, and be the first to hear about what’s new in the Pyth ecosystem through our newsletter. You can also learn more about Pyth here.