There was a sense of fog deep in the decentralized Algorithmic Skies where millions of dApps (decentralized applications) tried to realize their dreams. This mist was "Latency & Doubt," the bane of all sound finance. It blurred the real time value of the assets, and dApps had to depend on sluggish and intermittent whisper of the outer world.
The heart of all this dark space was one large digital city named "Defi Metropolis." Its constructors the DEXs, the lending protocols, the derivative platforms, were frozen. One important trade on the Perpetual Heights exchange had failed due to five-second latency in the price feed. The stale data was the trigger to a liquidation on the Lending Pools, which generated a wave of mistrust.
The residents of the Defi Metropolis screamed in need of a solution. They wanted the True Price, right now and right.
Then the whispers started In early Pythia.
Pythia was not a common thing. The collective consciousness came about as a result of the 90 or so major financial institutions, which were the largest exchanges, market makers and trading firms that had become weary of the old ways. Instead, they pooled their most accurate, first-party data that created one light that was indisputable.
This light was the Pyth Network ($PYTH).
Pythia deployed a new signal tower the Pull Oracle a revolutionary product enabling any dApp to demand the most recent price data, 40 or more blockchains, without having to wait to be pushed, a feature that was previously slow. They did not have to wait when a dApp on Solana required the value of gold, or an Ethereum application required the ETH/USD pair. And they just requested it, and Pyth provided the aggregated price with a confirmed confidence interval, and the fog of Latency & Doubt was destroyed.
The builders rejoiced!
Their trades became closer, their liquidations more just at Perpetual Heights.
* The Lending Pools reduced risk which drew billions of new capital.
New DeFi innovations that no one could have done before, because there was not reliable data, were starting to populate the Algorithmic Skies.
This new era was the engine of the $PYTH token. but it was not money, but a vote--a voice in the government of Pythia. The choice of which new data feeds to onboard was made by token holders so that the Network was always responsive to the demands of the changing financial universe. They turned into the keystockers of the True Price.
The Binance Square Moral of the Story:
The Pyth Network is not any oracle but is the basis of the future generation of financial applications. Pyth is a fundamental component of Web3 infrastructure, as its dedication to high-fidelity, first-party data and its novel Pull Oracle architecture enables it to serve as a critical component of a world in which microseconds count.
Theory The governance key of a network that is rebalancing speed, accuracy and transparency to the entire multichain ecosystem is known as $PYTH. Follow the light of Pythia--it is leading the future of digital assets!
