Mike

2024

DeFi

Pyth Network

<h4><strong>This major development opens the door for DeFi applications tied to energy markets.</strong></h4>
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      <p>By launching real-time oil price feeds, Pyth is bridging the gap between traditional financial markets and decentralized solutions. This move creates exciting new possibilities for DeFi energy markets.</p>
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<h5><strong>A Step Toward Decentralized Energy Markets</strong></h5>
<p>Pyth’s new service will aggregate live data from trusted financial sources. This includes exchanges, market makers, and index providers. This data will be available on more than 80 blockchain ecosystems. This will give developers the tools to create DeFi applications that link directly to the oil market. With real-time price feeds for WTI and Brent Crude Oil.</p>
<p>As well as front-month, second-month, and third-month futures contracts. This service sets the stage for oil-based derivatives and perpetual futures. Also, other financial instruments are to be offered on-chain.</p>
<blockquote class="twitter-tweet">
 <p dir="ltr" lang="en">New oil futures added to defi via Pyth</p>
 <p>Pyth is the data layer for all of defi and will eventually have the price of everything available on every chain</p>
 <p>We’re behind tradfi now, but we’re going to move fast <a href="https://t.co/xyunqZHzTp" rel="noopener noreferrer nofollow">pic.twitter.com/xyunqZHzTp</a></p>
 <p>— Mike Cahill | Pyth<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f52e.png" alt="🔮" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@mdomcahill) <a href="https://twitter.com/mdomcahill/status/1869360483888996831?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 18, 2024</a></p>
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<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>The addition of non-expiring contracts for difference (CFD) prices enhances the platform’s flexibility. This makes it an attractive option for both retail and institutional investors looking to access energy markets. By aggregating multiple data sources, Pyth reduces reliance on single-source feeds. This ensures more reliable and diverse oil market data. This is like having more than one line of defense. It will offer greater security and accuracy for <a href="https://www.altcoinbuzz.io/?s=dapps" target="_blank" rel="noopener noreferrer nofollow">DeFi protocols</a>.</p>
<blockquote class="twitter-tweet">
 <p dir="ltr" lang="en">The Price of Everything: Pyth Brings Multi-Trillion Dollar Energy Markets On-Chain<a href="https://twitter.com/storm_trade_ton?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@storm_trade_ton</a>, <a href="https://twitter.com/KinetixFi?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@KinetixFi</a>, and <a href="https://twitter.com/LineDefiHub?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@LineDefiHub</a> will lead integration across 8 key energy feeds<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/MyS82zUtj8" rel="noopener noreferrer nofollow">pic.twitter.com/MyS82zUtj8</a></p>
 <p>— Pyth Network <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f52e.png" alt="🔮" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@PythNetwork) <a href="https://twitter.com/PythNetwork/status/1869034865884332466?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 17, 2024</a></p>
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<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<h5><strong>More About Pyth Network</strong></h5>
<p>Pyth Network has launched <a href="https://docs.pyth.network/home/oracle-integrity-staking" target="_blank" rel="noopener noreferrer nofollow">Oracle Integrity Staking (OIS)</a>, an upgrade designed to enhance data source accountability and improve the security of the DeFi ecosystem. OIS introduces on-chain staking rewards and slashing mechanisms, allowing anyone to participate in securing Pyth’s data feeds.</p>
<blockquote class="twitter-tweet">
 <p dir="ltr" lang="en">What if you could get rewarded for protecting DeFi?</p>
 <p>Enter Oracle Integrity Staking (OIS)—an upgrade to Pyth bringing enhanced data source accountability for a more secure DeFi ecosystem.</p>
 <p>OIS brings on-chain staking rewards and slashing mechanisms to the network.</p>
 <p>Learn more <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2b07.png" alt="⬇" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/0rJ58bH3Xa" rel="noopener noreferrer nofollow">pic.twitter.com/0rJ58bH3Xa</a></p>
 <p>— Pyth Network <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f52e.png" alt="🔮" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@PythNetwork) <a href="https://twitter.com/PythNetwork/status/1837382947349102987?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 21, 2024</a></p>
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<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>The program incentivizes both publishers and PYTH token holders to stake their tokens, ensuring high-quality data while holding publishers accountable. Publishers who contribute reliable data will earn rewards, but those who provide faulty data will face penalties by slashing a portion of their stake.</p>
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<h6><strong>Disclaimer</strong></h6>
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p>
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/pyth-network-brings-real-time-oil-data-to-defi/" rel="noopener noreferrer nofollow">Pyth Network Brings Real-Time Oil Data to DeFi</a> appeared first on <a href="https://www.altcoinbuzz.io" rel="noopener noreferrer nofollow">Altcoin Buzz</a>.</p>

Pyth Network Brings Real-Time Oil Data to DeFi

Altcoin Buzz

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