Pyth Network, an oracle network, has declared collaboration with the frequently visited crypto exchange Bybit. The news of the collaboration was shared by Pyth on its official Twitter account. In line with the terms of this partnership, Bybit will provide real-time prices of crypto assets. The crypto exchange will additionally offer the finest support for the DeFi sector as well as the worldwide crypto market.
Bybit to Play the Role of a Data Provider for Pyth Network
Bybit is a platform for trading digital assets across the globe. It was constructed back in 2018 to provide a professional forum for crypto traders to discover a very rapid matching engine. In addition to this, it has multilingual support for the community, as well as excellent consumer service. At present, the platform is operating in more than 160 countries with support for up to sixteen languages.
Bybit is continuously offering resilient security agendas with full functionality to facilitate its clients. Bill Xing – Bybit’s Head of Financial Products – remarked on the collaboration by saying that the platform is enthusiastic to collaborate with Pyth. He added that they will offer transparent and accurate data to the blockchain community according to the requirement of the financial products’ upcoming generation.
As per him, Bybit has the chief focus of spreading democracy across the financial markets via the availability of market data. Previously, this service was restricted to a few consumers and entities. The collaboration denotes a significant move toward an additionally transparent future related to financial products, he disclosed.
The Pyth network appreciated Bybit’s decision to turn into a data provider for it. Pyth counts as a prominent oracle network operating at present. It brings financial price-related data possessed by prominent trading companies, exchanges, as well as crypto firms straightly on-chain. The network’s publishers have been keenly scrutinized to guarantee that the price data taken from them is quality-based.
Pyth Network Invites the Prospective Publishers to Join It
The data providers require to possess their price-related information and have the capability to offer it on a dependable consistent basis. The Pyth network is making great progress as it is scaling into additional asset classes as well as the ecosystems based on layer 1. The network also noted in its post that to sustain its integrity as well as to achieve its goal to support the DeFi ecosystem via an adequate oracle solution, it invites potential publishers to join.