The Pyth Network has recently revealed its collaboration with Keyrock, a prominent addition to its data provider community. This partnership is expected to revolutionize the oracle network, which currently supports over 100 DeFi protocols across 60 different blockchains. With Keyrock now on board, Pyth is poised for significant growth in terms of data suppliers and blockchain service offerings.
Keyrock, a renowned algorithmic trading and automated market making liquidity provider for digital assets, has been actively involved in pricing assets and enhancing liquidity since 2017. Leveraging years of expertise and technical knowledge, Keyrock is well-positioned to enhance the Pyth Price Feeds, thereby improving the security and efficiency of DeFi platforms.
As part of the integration, Keyrock will be incorporating its exclusive market data for cryptocurrencies, FX pairs, commodities, and US equities into the Pyth oracle. This collaboration enables the Pyth Network to source price data from a variety of top-tier data providers, resulting in reliable and accurate information for smart contract operations. The price data provided by Pyth serves as a crucial component for DeFi applications working across various ecosystems such as Move, Bitcoin, EVM, Cosmos, and Solana.
By aligning with the Pyth Network, Keyrock can expand its presence in the DeFi sector with minimal risk and cost. This integration also allows Keyrock to capitalize on the data generated through its daily activities, while also offering additional incentives for its contributions.
Juan David Mendieta, CSO of Keyrock, expressed his enthusiasm about the partnership, highlighting the enhancement of on-chain price feeds as a step towards increased decentralization and security globally. He emphasized the benefits that DeFi platforms could derive from having a reputable market player like Keyrock as a data provider, bridging the gap between traditional centralized markets and decentralized platforms.
Keyrock’s core mission is to make cryptocurrency liquidity accessible to all while upholding transparency and regulatory compliance. This collaboration signifies a significant milestone in Keyrock’s journey towards realizing its vision.