Pyth onboards Keyrock to strengthen DeFi data feeds

Algorithmic trading and market-making company Keyrock has become the latest member of the Pyth Network’s community of data providers.

The collaboration will reportedly improve the security and performance of DeFi applications, as well as the accuracy of digital asset price feeds by leveraging Keyrock’s proprietary market data.

Keyrock, known for pricing assets and scaling liquidity since 2017, brings its experience and technical expertise to strengthen Pyth’s Price Feeds offering. The latter includes over 80 market participants such as Jane Street, CBOE, Binance, and OKX.

With this collaboration, Keyrock will contribute its proprietary market data for crypto, FX pairs, commodities, and US equities to the Pyth oracle. Pyth Network aggregates its price data with up to 63 other first-party data providers, catering to DeFi applications across the EVM, Cosmos, Move, Bitcoin, and Solana ecosystems.

Keyrock’s participation in the Pyth Network enables it to expand its on-chain involvement in the DeFi space with minimal cost and risk. Integrating with Pyth as a data provider allows Keyrock to earn revenue from the data generated during their daily operations.

“By joining forces with Pyth Network, we can revolutionize on-chain price feeds, enhancing decentralization and security on a global scale. DeFi stands to benefit from the type of data that only an active and experienced market player like Keyrock can deliver. We’re excited to help push the envelope for DeFi and close the gap between the traditional, centralized markets and the decentralized ones,” said Juan David Mendieta, CSO of Keyrock.

Founded in Belgium in 2017, Keyrock is a market maker and liquidity provider building self-adaptive algorithmic technologies to support efficient asset markets. Keyrock offers liquidity services to tokens, exchanges, and brokerages within the cryptocurrency ecosystem.

With connections across 85+ trading venues, including centralized exchanges (CEXs) and decentralized exchanges (DEXs), Keyrock is collecting pricing data at scale.

In less than a year, the Pyth Network has accumulated over $7.0 billion in locked value and now offers more than 400 real-time price feeds across various asset classes, including commodities, stocks, FX, cryptocurrencies, and recently, ETFs. The network supports over 50 blockchains and handles trade volumes exceeding $100 billion.

Pyth Network addresses a critical need by providing high-frequency financial market data, meeting the demand for precise and timely information among DeFi applications. It bridges the gap between on-chain and off-chain events through smart contracts that can be applied across any blockchain platform.