Welcome to Pyth Network!
Who’s securing your smart contracts?
📖 Welcome to the Pyth Network!
🔮 What is Pyth?
Pyth network unlocks once-exclusive, real-world data and delivers it in real-time to the blockchain
We’re not talking about public data extracted from free internet sources. We’re talking about valuable financial data that’s often accessible only to a select group of market participants.
This type of data — accurate, high fidelity and low latency financial data — is critical for securing the next generation of decentralized finance (DeFi).
We’re making decentralized finance capable of everything that traditional finance can do
We believe that DeFi, at its full potential, can span multiple trillions of dollars in TVL globally.
To get there, we need the best data, delivered trustfully, transparently and reliably. That’s why we built the Pyth network.
⚗️ What makes Pyth special?
There’s many reasons developers choose to build with Pyth
- Unparalleled data quality and speeds
- Unique, powerful features for innovation and security
- Open-source code and transparency
Let’s take a closer look…
World-class Publishers and Institutional-grade Data
- Data feeds for FX, equities, crypto, commodities and more to come…
- Pyth’s data publishers are best-in-class market players: exchanges, market makers, and financial service providers.
- The data Pyth’s publishers offer is not freely available elsewhere!
- Uncompromised principles of quality and reliability: Data is sourced directly from publishers only; Prices stream at every Solana blocktime (400ms); Minimum publisher rule for feed stability.
First-Party Data: Publishers Create and Own their Data:
- Pyth’s unique design removes data middlemen from the process. No intermediaries charging to relay data between external sources and users.
- Every data publisher on Pyth is held accountable for the data they submit. Pyth’s publishers are well aware that their data is securing potentially billions in value.
- Thoughtful network mechanisms keep publishers accurate and honest, provide protection assurance to data users, and allow participants like you and me to get involved!
A New Business Model to Benefit Everyone
- Pyth’s data is free to use. No paying for each oracle call.
- Consumers will be able to elect to pay fees to hedge against oracle risk. Whatever your use case, Pyth is here for you!
- Aggregation and data delivery are completely on-chain. No off-chain actions! Pyth upholds the values of decentralization and transparency for builders!
- Pyth features a unique Confidence Interval (price uncertainty) metric, Publisher performance metrics, EMA/EMAC, cross-pair support, basketing (indexing or compositing), and more!
🏗️ What has Pyth been up to?
Pyth network has made extraordinary progress since day one
Pyth reached devnet in just four months since its release in April 2021, and went live on Solana mainnet on August 2021.
In less than a year, the network secured more than $2.0B in total value and supported over $3.8B in monthly trading volume ($18.0B+ in total). Today, there are 57 publishers supporting the network (that’s one publisher per week!) and more than 60 price feeds supported. Developers can’t get enough either: Pyth has surpassed 300K total client downloads. And we’re just getting started…
These milestones are a testament to Pyth’s trailblazing growth and popularity.
Current users include Ribbon Finance, Mango Markets, Solend, Lifinity, Drift, 01 Exchange, HXRO Network, Friktion, Katana, Zeta Markets, Bonfida, Port Finance, Saber Labs, PsyFinance, Jet Protocol, Synthetify, Cypher, Crux, Ideal Prediction, Neon Labs, Snowflake, Everlend, Hubble, Fabric, GooseFX, Apricot, DFlow, Dagg, Project Larix, Project Citadel, Acumen, Solrise Finance, SolStreet Finance, DeltaFi, UXD, Soda Protocol, Solaris, Incept, Spin, Investin, Citrus, Sypool, Treasure Island, HydraSwap, UpFi, BananaSwap, Cherub, 1Sol, and many more!
Current publishers include AAX, Akuna Capital, Alameda Research, Amber Group, Amberdata, Apifiny, Aquanow, Belvedere Digital Assets, Bitso, Bitstamp, BSX, CDAP, Chicago Trading Company, CMS, CoinShares, Cumberland DRW, DeFi Technologies, DV Chain, Flow Traders, FTX, G-Research, Galaxy Digital, Gate.io, Genesis Global Trading, Geneva Trading, GHCO, GMO, GTS, Hudson River Trading, IEX Cloud, Jane Street, JST Capital, Jump Trading, Kaiko, KGI Securities, LMAX, Maven Securities, MEMX, ML Tech, Optiver, OSL, PEAK6, Profluent, Raydium, Serum, Susquehanna, Talos, 3AC, Tower Research, Two Sigma, Virtu, Wintermute, WOO X, XBTO, xbullion, XR Trading, and 0x Labs.
We’re extremely grateful towards the Pythian community — from our beloved members across our socials, to our data providers who have been publishing their proprietary market data for months, to our integration partners who continue to build incredible solutions alongside us!
Thank you for all of your dedication and support!
⚖️ Network Design, PYTH Token Utility, and Governance
The goal of the PYTH token’s design and mechanics is to make Pyth network self-sustaining and decentralized
Warning: There are no PYTH tokens in circulation. Any entity claiming to distribute PYTH tokens is fraudulent. There have been no announcements about fundraising or tokens outside of the Pyth whitepaper. All important updates will come through Pyth’s official channels.
Publishers stake PYTH to publish price feeds to Pyth. They will earn a share of data fees in exchange (or face slashing if they submit bad data).
- Publishers will be held accountable for their performance. Publishers will have to stake PYTH to be able to publish data.
- Pyth’s on-chain Aggregation and thoughtful incentive mechanisms are designed to prevent publishers from manipulating the oracle.
Consumers read price Pyth’s feeds to incorporate data into their smart contracts or dApps.
- Consumers will be able to choose to pay PYTH (or any other governance-approved token) as data fees for a data feed they’re consuming.
- In exchange for these fees, consumers may receive a payout from stakers (publishers and delegators) if the oracle price is inaccurate.
Delegators will stake PYTH on a specific price feed (and its publishers) to earn a share of the data fees.
- Delegation contributes to network robustness and the bootstrapping of new price feeds.
- Delegators’ stakes are paid out to consumers in the event of a successful claim against faulty publishers causing a bad pricing event.
The Claims Process is when a network participant tries to trigger a payout to consumers for a specific feed.
- Doing so requires to bond PYTH tokens which are then returned if a claim is successfully ratified.
- PYTH tokens are used to vote and ratify the HUMAN Protocol’s results for resolving a claim process.
Governance will follow a coin-based voting system.
- Governance encapsulates actions such as: Approving software updates, Determining which feeds to list on Pyth; Determining the reward distribution between publishers and Delegators; and more…
🏋️♀️ Get Involved
- Become Pythian: https://linktr.ee/PythNetwork
- Discuss on Discord: https://discord.gg/invite/PythNetwork
- Chat on Telegram: https://t.me/Pyth_Network
- Stay Updated: https://t.me/PythAnnouncements
- Website: https://pyth.network
The journey’s just getting started. Now’s your time to get involved…