What is Pyth Network?

Pyth Network, which works on the Solana network, stands out as an oracle solution.
Pyth Network, which completed its main network transition in the last quarter of 2021, will contribute to the integration of market data into decentralized applications.
In addition, Pyth Network is developed with a completely decentralized structure and does not rely on a single data source. As you know, many different oracle solutions offer multiple data sources because single data sources can be easily manipulated. In this way, Pyth Network aims to provide data more securely to the people and institutions it serves.


According to the information we have obtained, the main purpose of Pyth Network is to provide financial market data to the public that end users cannot access.

However, end users of the Pyth Network can also choose to pay for this data to avoid a possible oracle error. Additionally, payments made to erroneous data providers will be shared among voluntarily paying users.

Additionally, Pyth Network has multiple network participant roles. These roles are divided as follows:
Publishers: These people publish price data and get paid for it. These people are generally people who have accurate and complete access to price information. The accuracy of the data these people provide affects the fees they receive.
Customers: These individuals browse price data and incorporate the data into smart contracts or decentralized applications. However, these individuals pay on a voluntary basis for the service they receive.
Delegates: These individuals control the flow of published data. However, these people control the PYTH tokens to be distributed.
Additionally, if a person in any role wants to have more than one role, they can do so. For example, if publishers also want to be delegates, they can do so.

Incentives Given to Participants
As you can imagine, publishers will be rewarded with incentives for benefiting the Pyth Network. Publishers earn a certain share of the data they share. The share to be obtained from the shared data will be proportional to the accuracy of the data. Additionally, a publisher who shares inaccurate data will lose potential incentives.

Customers will be encouraged to pay for the data they obtain. Customers get paid when they have problems with the accuracy of the data they obtain. Additionally, the fact that many customers are paying to a particular publisher will verify the security of that data.

Additionally, delegates are incentivized to receive a share of data charges provided by consumers. In the beginning, delegates will be incentivized with significant payments, but as time passes and competition increases, these significant payments will be replaced by more efficient rewards.

Seeing the future of the DeFi industry as bright, Pyth Network examines the importance of the protocol that will connect both worlds. The system, which integrates real-world data with blockchain technology, stands out as a decentralized oracle solution.

What is PYTH Token?
The main idea in the development of PYTH Token was for Pyth Network to achieve a self-governing and decentralized structure.

In addition, while Pyth Network received investment from Jump Trading, it also receives support from investment companies such as GTS, Virtu Financial, IEX, Akana Capital and XR Trading.