Whitepaper

Growth in DeFi requires high-fidelity, time-sensitive, real-world data, direct from the source and made available on any L1 blockchain. Financial market data, however, is often accessible to only a limited set of institutions and users. Traditional markets typically maintain strict control over and access to both live and historical price feeds. Consequently, only a selected group of users has access to the most timely, accurate, and valuable information.

The Pyth network is a next-generation oracle solution that aims to bring this valuable financial market data to the general public. The network does so by incentivizing market participants — trading firms, market makers, and exchanges — to share directly on-chain the price data collected as part of their existing operations. Pyth's data providers include some of the largest traders, exchanges, and financial services players who create unique high quality market data. This includes real world market data in equities, fx, crypto, and metals with ambitions to scale across asset classes. Data publishers include GTS (opens in a new tab), Jane Street, Hudson River Trading, LMAX (opens in a new tab), Virtu (opens in a new tab), BSX (opens in a new tab), CTC (opens in a new tab), and many more (opens in a new tab).

The Pyth Network Whitepaper (opens in a new tab) describes the mechanisms powering the protocol. The whitepaper was last updated in September 2023.