With the launch of the Pyth Network decentralized oracle project on the Solana mainnet, developers will be able to leverage the market data provided by the Pyth Network in their DeFi applications.
The project is supported by many trading firms led by the Jump Trading platform. Also, companies such as GTS, Virtu Financial, Chicago Trading Company, IEX, Akuna Capital, DRW Cumberland, XR Trading, Hudson River Trading, KGI Securities, FTX, Genesis Global Trading, LMAX and CoinShares provide their data through the Pyth Network oracles.
Any smart contract on the Solana network will be able to connect to the Pyth Network oracle and receive market data streams from the specified sites. In addition to cryptocurrency market data, developers have access to information about the US stock market, forex and commodity markets.
According to
records on Twitter, Solana will remain the main network for the Pyth Network project, but in the future, using the Wormhole blockchain interaction protocol, it is planned to add support for Ethereum, Binance Smart Chain and Terra.
“The Wormhole Interoperability Protocol is a powerful leap forward in the decentralized finance (DeFi) industry that will show the importance of projects like Pyth,” said Chris Zuehlke, Partner at DRW.
As a reminder, Solana’s Wormhole Bridge was launched just a couple of weeks ago. The protocol supports not only the exchange of data between Ethereum, Terra and BSC blockchains, but also the transfer of assets.
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