Pyth Network is a decentralized, first-party oracle designed to deliver real-time market data directly from the source. Unlike traditional oracles that rely on third parties, Pyth enables data providers—like exchanges and trading firms—to publish accurate price feeds directly on-chain. This ensures high fidelity, low-latency information crucial for DeFi protocols, especially those involving derivatives, lending, and liquidations.
Pyth supports multiple chains through a unique pull-based model using the Wormhole messaging protocol, making it highly scalable and secure. As DeFi grows, reliable data feeds like Pyth are essential to eliminate manipulation and boost trust in smart contracts.