Pyth Network price
in USDCheck your spelling or try another.
About Pyth Network
Pyth Network’s price performance
Pyth Network on socials
Guides
More to explore
Pyth Network FAQ
Dive deeper into Pyth Network
Pyth Network is a decentralized oracle solution that provides real-time, high-fidelity financial market data to multiple blockchains. Launched in 2021, Pyth Network was created to address the need for accurate, low-latency market data in the rapidly growing decentralized finance (DeFi) sector. The network sources its data from over 90 first-party publishers, including some of the world's largest exchanges and market makers. Pyth Network's mission is to democratize access to financial market data, making it readily available to DeFi applications and the general public. By doing so, it aims to empower individuals to take control of their financial lives and foster the growth of the DeFi ecosystem.
How does Pyth Network work
Pyth Network operates by incentivizing market participants to share the price data they collect as part of their existing operations. This data is then aggregated and published on-chain for use by on- or off-chain applications. The network uses an appchain called Pythnet to store and update the state of each price feed. Pythnet is a proof-of-authority blockchain where each publisher runs a validator. PYTH prices are broadcast from this appchain to other target chains by way of a cross-chain architecture that uses decentralized cross-chain messaging protocols, such as the Wormhole network.
Pyth Network price and tokenomics
The Pyth Network's native token is PYTH. The maximum supply of PYTH is 10,000,000,000, with an initial circulating supply of 1,500,000,000 (15%). The token distribution is as follows: Publisher Rewards (22%), Ecosystem Growth (52%), Protocol Development (10%), Community and Launch (6%), and Private Sales (10%). The PYTH tokens are initially locked and will unlock 6, 18, 30, and 42 months after the initial token launch. The PYTH token plays a crucial role in the network's governance, allowing token holders to guide protocol development and shape the network.
About the Founder
Douro Labs, under the leadership of CEO Mike Cahill, established Pyth Network with a focus on blockchain technology. Their aim was to facilitate the integration of off-chain and on-chain data, particularly in Ethereum (EVM) and Solana ecosystems, to enable real-time data feeds for blockchain applications.
Pyth Network highlights
Pyth Network has successfully integrated with over 90 exchanges, market makers, and financial services providers, making it the largest first-party oracle network for financial data. The network supports more than 300 real-time price feeds across digital assets, equities, ETFs, FX, and commodities. Furthermore, Pyth Network's innovative pull oracle design has enabled it to scale to thousands of symbols and near limitless blockchains in coverage. The network's future plans include the implementation of the Perseus Upgrade and the transition to a permissionless mainnet with token-led governance.
Frequently Asked Questions about Pyth Network
- What is Pyth Network and its relation to Bitcoin and Ethereum?
Pyth Network is a decentralized oracle that offers market data for digital assets, including Bitcoin (BTC) and Ethereum (ETH). It aggregates high-fidelity price feeds for DeFi and blockchain applications.
- How does Pyth Network verify the accuracy of its price feeds?
Pyth Network employs a decentralized approach, sourcing data from multiple providers and using algorithms for data verification.
- What is the role of Pyth price feeds in cryptocurrency trading?
Pyth price feeds provide market data for various assets, including equities and cryptocurrencies, which can assist in trading decisions and market liquidity.
Disclaimer
OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.