“We look forward to contributing to the success of DeFi and the fast-evolving transformation of the financial markets through this important project.”
PEAK6’s crypto business has joined the Pyth network to provide real-time cryptocurrency data to the oracle platform designed to provide trusted and verifiable market data to decentralized applications.
The Pyth network delivers timely, accurate, and valuable data on-chain and on a sub-second timescale and gathers more than 45 prominent data publishers across various asset classes, including digital assets, equities, and FX.
Cumberland DRW, Flow Traders, FTX, Galaxy Digital, Jane Street, Jump Trading Group, LMAX, Two Sigma Securities, and Virtu Financial, are a few of Pyth network’s participants.
Tom Simpson, Chief Executive Officer, PEAK6 Capital Management, said: “At its core, PEAK6 is committed to investing in and partnering with transformational organizations that are building a better world through the power of technology, which is why joining Pyth was an obvious decision.
“We look forward to contributing to the success of DeFi and the fast-evolving transformation of the financial markets through this important project. Together, we will work to make crypto and traditional financial market data accessible in an innovative way.”
Pyth Network is a Solana-based data aggregation platform that serve as an oracle, providing data for the DeFi market. It helps solve a problem faced by many applications by sourcing high-fidelity and time-sensitive data occurring on- and off-chain to smart contracts located on any blockchain
Pyth serves as a data gateway between real world markets and the blockchain. Its information system is utilized by crypto desks and trading exchanges who rely on its platform to obtain accurate, real-time data.
Pyth price feeds have been available on the Solana mainnet since August 2021 and leading Solana dApps like Bonfida, Drift, Hxro, Mango Markets, Saber Labs, Solend, Synthetify, Port, and Zeta Markets have integrated with Pyth network to strengthen their protocols’ uptime guarantees and automate critical on-chain functions in a highly reliable, fully decentralized, and cost-efficient manner.
Ideal has recently launched a crypto analytics API using Pyth Network’s real-time on-chain market data to empower crypto trading firms with institutional-grade analytics and total transparency on their transaction costs and profitability.
The decision intelligence firm developed Impact API to bring much-needed transaction transparency to crypto, a market where costs and spreads are often opaque today.
Turning data analytics into clear actions for success, Ideal provides traders in crypto and traditional finance markets with performance insights that help them better understand their true execution costs and optimize their trading decisions.