Pyth Network (PYTH)USD

Pyth Network is a decentralized oracle protocol that aggregates and delivers real-time financial market price data from institutional first-party sources to smart contracts across multiple blockchains. It covers cryptocurrencies, equities, foreign exchange, and commodities. Ciarán Cronin, Michael Cahill, and Jayant Krishnamurthy founded the project in April 2021. The oracle network launched in 2021 on Solana, and the native token PYTH was introduced on 20 November 2023 through a community airdrop. Pyth uses a pull-based oracle model: multiple first-party data publishers submit prices to an oracle program running on Pythnet, which aggregates them into a single price with a confidence interval and distributes feeds cross-chain via messaging protocols such as Wormhole. The native token, PYTH, has three functions: voting on governance proposals, staking through Oracle Integrity Staking to help secure data quality and earn a share of protocol fee revenue, and general protocol utility. PYTH has a fixed total supply of 10 billion tokens, distributed according to unlock schedules running from 2023 through 2026. DeFi applications and other on-chain protocols use Pyth Network when they need low-latency price feeds, and the protocol supports dozens of blockchains.