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The Pyth Network stands as a preeminent and rapidly expanding primary oracle network, known for its real-time market data provisioning to financial decentralised applications (dApps) across more than 40 blockchain platforms. It offers over 380 price feeds with minimal latency, encompassing a diverse range of financial instruments including cryptocurrencies, stocks, exchange-traded funds (ETFs), foreign exchange (FX) pairs, and commodities.
This network is a collaborative effort involving leading exchanges, market makers, and financial institutions globally, all contributing their proprietary price data for utilisation in smart contracts. Key participants include notable entities such as Binance, OKX, Jane Street, Bybit, and Cboe Global Markets, among others. The Pyth Network's oracle mechanism efficiently consolidates this data directly on the blockchain, ensuring accuracy and resistance to manipulation. The protocol also enables users to conveniently "pull" the most recent prices onto their respective blockchains as required.
Within a year of introducing its cross-chain pull oracle, the Pyth Network has amassed over $1 billion in total value. It has gained widespread adoption, being utilised by over 250 applications and securing a trading volume of $100 billion. The integration with Pyth Price Feeds is open and does not require special permissions.
