Pyth: The Key Cornerstone of the Solana Ecosystem

As one of the most representative Oracle Machine protocols on Solana, Pyth Network has become the market data source relied upon by nearly 90% of decentralized applications (DApps) on the chain. This protocol is dedicated to providing real-time and highly accurate price information, covering asset classes including encryption, stocks, commodities, and interest rates, with data currently covering over 90 blockchains.

Rayhaneh Sharif-Askary, head of Grayscale’s product and research department, pointed out that the design of Pyth reinforces the demand for high-quality Oracle Machines in the Solana ecosystem: “The purpose of launching this fund is to create opportunities for investors to grow in sync with Solana’s expansion trends, especially for those looking to participate in the next generation of financial data infrastructure.”

How does Pyth disrupt the traditional financial data industry?

The development team behind Pyth, Douro Labs, believes that Pyth is reshaping a financial data supply chain worth over $50 billion. Unlike traditional Oracle Machines, Pyth adopts a pull-based data model, allowing institutions to pay for data usage based on actual needs, significantly reducing the costs for trading institutions that heavily rely on real-time data. Pyth has launched on-chain real-time pricing services for traditional commodity markets such as oil prices and plans to continue expanding its data coverage, penetrating Oracle Machine services into more financial scenarios.

Grayscale accelerates product line layout and expands encryption participation channels.

In addition to the Pyth Fund, Grayscale is also continuously researching and developing a diversified range of encryption investment products. From its early watchlist, emerging assets such as Kaspa are also included as potential investment targets. At the same time, Grayscale’s two most notable products: the Bitcoin spot ETF (GBTC) and the Ethereum spot ETF (ETHE), are waiting for further regulatory developments. The SEC is currently considering whether to approve the options trading for these products, symbolizing that the encryption asset market is moving towards a more diversified range of financial instruments.

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Summary

With the expansion of on-chain financial applications, Oracle Machines will become an indispensable part. Pyth not only provides data but also serves as a potential engine for bridging Web3 and traditional finance. Grayscale’s launch of the Pyth fund illustrates its forward-looking vision for this sector. In an era where major public chains are competing to expand their infrastructure, those who can dominate the underlying logic of data circulation may hold the future’s discourse power.