Pyth Network is an oracle that publishes financial data on-chain for use in DeFi applications. We currently publish real-time prices for cryptocurrencies, FX, and equities on several different blockchains. We are the biggest oracle in the Solana ecosystem, where we secure >$2B of value and power a variety of borrow/lending, derivatives, and other DeFi protocols.
We have two goals at Pyth Network. First, we want to accelerate the growth of the DeFi ecosystem. We believe DeFi is the future of finance, and we are working together with the broader developer community to build a fairer and simpler financial system. Oracles are a critical component of most DeFi applications — they’re the only way for on-chain applications to get input from the outside world. Our goal is to create the most accurate and reliable price feeds, then unleash the creativity of external developers to build valuable applications on top.
Second, we want to make financial market data broadly accessible to the public. Today, most financial data is gated behind paywalls that keep out most potential participants. The data that is free is low resolution, e.g., daily open/close prices. We think this is unfair. Our price feeds are freely accessible to the public, and anyone is free to save the data for later analysis. In fact, we think our historical US equity prices are the highest-resolution, free data set, with price updates every 400 ms.
