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|
 Pyth Network logo | |
| Formation | 2021 |
|---|---|
| Founders |
|
| Type | Decentralized financial data network |
| Headquarters | Baar, Switzerland |
Key people | Mike Cahill (CEO of Douro Labs) |
| Website | pyth |
Pyth Network is a decentralized oracle network that aggregates and distributes real-time financial market data, including prices for cryptocurrencies, equities, foreign exchange, commodities, and other asset classes. It sources data directly from financial institutions, exchanges, and market makers (first-party publishers) and makes it available for use in blockchain-based applications and decentralized finance.[1][2]
History
Pyth Network was developed starting in April 2021 and initially launched on the Solana blockchain. The Pyth Data Association was established in Baar, Switzerland to support the project. In 2023, Douro Labs was formed by the founders as a core contributor to the network.
By 2025, the network had grown to include data from over 100 institutional publishers and was integrated into applications across more than 100 blockchains.[2]
In 2025, Pyth launched Pyth Pro, a subscription-based service providing institutional-grade market data. It also introduced the Pyth Data Marketplace, enabling institutions to publish and distribute proprietary datasets onchain.[3][4]
In December 2025, the network's governance introduced the PYTH Reserve, a mechanism allocating a portion of DAO treasury funds to purchase PYTH tokens on the open market.[5]
Technology
Pyth Network aggregates price data from multiple first-party sources and publishes consolidated feeds with confidence intervals. It supports a wide range of asset classes and emphasizes low-latency, high-frequency updates suitable for decentralized finance and institutional applications.[2]
Partnerships and adoption
Pyth has partnered with several traditional finance entities to expand its data offerings:
- In January 2025, UK fintech company Revolut became the first banking data publisher on the network, contributing price data for more than 500 markets across foreign exchange, equities, and commodities.[1][6]
- In August 2025, Pyth (alongside Chainlink) was selected to help distribute selected U.S. economic data, including gross domestic product (GDP) figures, from the United States Department of Commerce on blockchain networks.[7]
- In October 2025, prediction market platform Kalshi partnered with Pyth to deliver real-time event contract data onchain.[8]
- In April 2026, several institutions - including Fidelity Investments, Tradeweb, Euronext, and others - joined as data publishers for the launch of the Pyth Data Marketplace. Polymarket later selected Pyth as the resolution source for its new US equity and commodity markets.[4][9]
See also
References
- ^ a b Hunt, James (2025-01-08). "Revolut becomes first banking data publisher to join the Pyth Network". The Block. Retrieved 2026-05-07.
- ^ a b c "Scale is the Name of the Game for Pyth's Onchain Data". Markets Media. 2025-09-05. Retrieved 2026-05-07.
- ^ "Outlook 2026: Mike Cahill, Pyth Network". Traders Magazine. 2026-01-02. Retrieved 2026-05-07.
- ^ a b "Euronext FX, Fidelity and Tradeweb among latest firms to join Pyth Network's data marketplace". The TRADE. 2026-04-10. Retrieved 2026-05-07.
- ^ Khatri, Yogita (2025-12-12). "Pyth launches token buyback program, allocating 33% of DAO treasury to monthly PYTH purchases". The Block. Retrieved 2026-05-07.
- ^ "Pyth Network Partners With Revolut in DeFi Data Sharing Deal". CoinDesk. 2025-01-08. Retrieved 2026-05-07.
- ^ "Chainlink and Pyth Selected to Deliver U.S. Economic Data on Blockchain". CoinDesk. 2025-08-28. Retrieved 2026-05-07.
- ^ "Pyth Network And Kalshi To Enable Real-Time Prediction Market Data Onchain". Crowdfund Insider. 2025-10-14. Retrieved 2026-05-07.
- ^ "Polymarket taps Pyth Network to resolve new US equity and commodity markets". The Block. 2026-04-02. Retrieved 2026-05-07.
Category:Financial technology companies Category:Data companies Category:2021 establishments in Switzerland Category:Blockchains
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