Today, the Pyth Network announced the integration of Keyrock into its data provider community. This partnership is set to improve the oracle network enormously. It powers over 100 DeFi protocols spanning over 60 blockchains. The availability of Keyrock means a fast expansion of Pyth regarding data suppliers and blockchain services provision.
Pyth Network Gains Keyrock’s Market Expertise
Keyrock is a leading algorithmic trading and automated market making liquidity provider for digital assets. It has been pricing assets and building liquidity since early 2017. With years of experience and the necessary technical experience, Keyrock is best placed to further improve the Pyth Price Feeds. It enhances the security and efficiency of DeFi.
Keyrock will be integrating its proprietary market data for cryptocurrencies, FX pairs, commodities, and US equities to the Pyth oracle. Through Keyrock, the Pyth Network collects price data from several of the top-tier data providers (typically up to 63) to yield a solid and trustworthy end result for use within smart contract processes. The price data provided by Pyth is an essential building block for DeFi applications working with assets on DeFi applications across multiple ecosystems ranging from Move, Bitcoin, EVM, Cosmos, and Solana.
By joining the Pyth Network, Keyrock will expand its participation in the DeFi space with minimal cost and risk. This integration also allows Keyrock to monetize the data generated during daily operations. In addition to all this, it will provide additional incentives for their contribution.
Keyrock’s Juan David Mendieta Optimistic About On-Chain Feeds Enhancement
Keyrock CSO Juan David Mendieta says that he is really excited about the partnership. He has reinforced it as an enhancement of on-chain price feeds, boosting decentralization and security worldwide. He pointed out how DeFi would benefit from a seasoned market player like Keyrock as a data provider. Furthermore, he indicated the possible bridge from traditional centralized markets all the way to decentralized markets.
Ultimately, Keyrock is driven by the mission of providing access to cryptocurrency liquidity for all. At the same time, it maintains a high level of transparency and operational integrity with full local regulatory compliance. As a result, this move represents a hallmark in the company’s quest to make its vision a reality.
