Blockchain oracle agency Pyth Community has partnered with neobank Revolut to port digital banking knowledge into decentralized finance (DeFi).
Revolut will present knowledge for greater than 500 markets together with overseas alternate, equities and commodities. Revolut additionally runs a crypto alternate though quantity knowledge shouldn’t be printed.
The PYTH token spiked momentarily on the information however has since receded according to the broader market. It’s now down by 9% over the previous 24 hours.
Pyth competes with ChainLink and goals to supply correct worth feeds for DeFi protocols. It airdropped its native token (PYTH) in 2023 and has $7.5 billion in worth secured on its oracle, in accordance with DefiLlama.
Pyth additionally receives knowledge from crypto exchanges Bitstamp, Bybit and Binance in addition to a number of buying and selling corporations corresponding to Jane Avenue and Cumberland DRW.
ChainLink’s market share for oracles has diminished for the reason that emergence of Pyth; in Could 2021 ChainLink managed 69% of worth knowledge feeds in comparison with Pyth’s tally of 0.08%. These figures have now evened out to 52% and 11%, respectively.
