Financial markets produce valuable data like stock prices, currency exchange rates, and commodity prices. This data powers critical financial applications and informs decisions that move billions of dollars. However, high-quality financial data is often only available to institutions like banks and hedge funds. The average person can’t reliably access the data.
Pyth aims to change this status quo by making accurate financial data openly available on blockchains. It is a protocol that coordinates various participants to publish frequent price updates on-chain. These price feeds can then power blockchain-based decentralized finance (DeFi) applications.
For example, a lending protocol may want to use Pyth’s price feed for Tesla stock to manage loans collateralized by TSLA tokens. Or a decentralized exchange can use Pyth’s ETH/USD price to value trades on their platform.
Pyth brings first-party data from financial…
