Pyth Network partners with Portofino to expand its live price feeds

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Decentralized data provider Pyth Network today announced a strategic partnership with crypto-native technology start-up Portofino Technologies to expand its live price feeds. The move is set to bolster the network’s commitment to providing blockchain developers with real-time, reliable price data. As of now, Pyth has over 100 data-providing partners.

“We are excited to collaborate with Pyth Network and the team on its journey as a decentralized data provider”, stated Leo Lancia, CEO and co-founder of Portofino Technologies. “We look forward to leveraging our in-house proprietary market making technology and experience to contribute to the growth of the Pyth ecosystem.”

Until March, 330 decentralized applications were registered using Pyth oracles for real-time data, a leap of almost 197% compared to the same month in 2023. The number of blockchains using Pyth also grew in the same period, leaping from 17 to 56.

The user growth led to over $87 billion being traded last month using Pyth’s solutions, and over $7 billion in total value locked being secured by its oracles.

“Pyth’s low-latency oracle and innovative data technology will be the foundation and growth of DeFi,” commented Shane O’Callaghan, global head of business development at Portofino. “We are extremely excited to partner with the Pyth contributors and look forward to enabling our proprietary technology to help contribute to the overall Pyth ecosystem.”

The Pyth Network continues to invite other data partners to join in creating a decentralized marketplace for high-fidelity, institutional-grade financial data, as it powers over 500 price data feeds in the decentralized ecosystem.

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