19 July 2022 | London, UK – Pyth network, a next generation oracle solution, today announced a new data-sharing partnership with world-leading cryptocurrency exchange Huobi Global. Huobi Global will share its valuable cryptocurrency data directly on-chain to Pyth, enabling it to better provide financial data for its global DeFi ecosystem.
The Pyth network is a core piece of DeFi infrastructure with price feeds derived from a community of over 65 of the world’s leading trading institutions, exchanges, and crypto companies, each providing data across Crypto, FX, Equities and Commodities. The network incentivises market participants to share directly on-chain the price data collected as part of their existing operations. The network then aggregates this first-party price data (still on-chain) and makes it available for use by either on- or off-chain applications. It has established itself as the most reliable source of financial data for the DeFi ecosystem.
Huobi CFO Lily Zhang said, “Data oracles are an integral part of the decentralized world, and only those with low latency and high reliability can serve as the bedrock for sustainable DeFi protocols. Pyth network, with its fast-growing network of well-respected data partners, exemplifies such exciting potential.”
Mike Cahill, Director of the Pyth Data Association, said, “Huobi Global has established itself as a leading crypto exchange within the crypto economy and we look forward to bringing their digital asset data on-chain as we continue to build the future of finance and create more efficient, decentralized markets.”
About Huobi Global
Founded in 2013, Huobi Global is one of the world’s leading cryptocurrency exchanges, with tens of millions of users across five continents and 160 different countries and regions. We are dedicated to empowering financial freedom and creating new global wealth, having led the cryptocurrency industry in spot, derivatives, and Bitcoin transactions for many years. Our infrastructure, operations and offerings are built on processes and standards that prioritize user safety and industry compliance, backed by strong global customer supports underpinned by local expertise. It offers a unique trading environment that is truly customer-first, safe and sustainable for all users, enabling their long-term success. For more information, visit www.huobi.com
About the Pyth Network
The Pyth network is a specialized oracle solution for latency-sensitive financial data that is typically kept behind the “walled gardens” of centralized institutions. The Pyth network is focused on finding a new and inexpensive way to bring this unique data on-chain and aggregating it securely.
For more information about the Pyth network, please visit pyth.network