PYTH Coin (PYTH) is the native token of the Pyth Network oracle, a project known as a "blockchain information relay station," which aims to penetrate the global market data industry worth over $50 billion, leveraging advantages accumulated from DeFi (decentralized finance) to create a "data infrastructure" that connects on-chain and reality. First, let's understand its starting point: in the DeFi field, PYTH has long been a "necessary tool." The blockchain itself cannot directly obtain real-world price data, while DeFi's lending and derivatives trading rely on accurate data—such as lending platforms needing to calculate the value of collateral in real time, and derivatives platforms needing to keep up with asset price fluctuations. Pyth Network precisely addresses this issue: it does not seek intermediaries, directly obtaining "first-hand data" from over 90 top exchanges and market makers like Binance and Jane Street, and then aggregates trustworthy prices through a unique algorithm, updating every 400 milliseconds, which is much faster than traditional oracles. Platforms like Drift Protocol for derivatives and Solend for lending on Solana rely on its high-frequency data to ensure transactions and settlements are error-free. The PYTH token acts as the "lubricant" for this ecosystem: data providers can use it as rewards, users pay data fees with it, and holders can vote to decide the development direction of the protocol, supporting the operation of DeFi scenarios.
However, Pyth's ambition extends beyond DeFi. The global market data industry is worth over $50 billion but has many pain points: traditional service providers have high data latency, expensive fees, and are easily manipulated by centralized institutions. Pyth aims to reconstruct this market using the "decentralized magic" of blockchain—its "pull model" updates data only when users need it, saving a significant amount of costs; the transparency of blockchain can ensure data is immutable, solving the industry's most pressing trust issues.
Now, this expansion has already made substantial progress. In the traditional financial sector, it has partnered with the digital bank Revolut, which has 45 million users, to integrate the latter's price data into the on-chain ecosystem; it has also teamed up with Swiss crypto bank Amina to provide real-time pricing services, and has even caught the attention of tech giants like Sony to collaborate on data services for blockchain test networks. These partnerships are no longer limited to crypto assets,
