Today, the Pyth Network made an exciting announcement by welcoming Keyrock into its data provider community. This collaboration is expected to greatly enhance the oracle network, which currently supports over 100 DeFi protocols across 60 different blockchains. Keyrock’s integration will lead to a rapid expansion of Pyth’s data suppliers and blockchain services.
Keyrock brings valuable market expertise to the Pyth Network as a leading algorithmic trading and automated market making liquidity provider for digital assets. With a history of pricing assets and building liquidity dating back to 2017, Keyrock is well-equipped to enhance the Pyth Price Feeds, thus bolstering the security and efficiency of DeFi.
Through the integration, Keyrock will provide its proprietary market data for cryptocurrencies, FX pairs, commodities, and US equities to the Pyth oracle. By leveraging Keyrock’s expertise, the Pyth Network aggregates price data from various top-tier data providers (typically up to 63) to deliver reliable and trustworthy results for smart contract applications. This price data is crucial for DeFi applications operating across diverse ecosystems like Move, Bitcoin, EVM, Cosmos, and Solana.
By joining forces with the Pyth Network, Keyrock is expanding its footprint in the DeFi space with minimal cost and risk. This integration not only enables Keyrock to monetize the data it generates during its daily operations but also offers additional incentives for its contributions.
Juan David Mendieta, CSO of Keyrock, expressed his enthusiasm for the partnership, emphasizing the enhancement of on-chain price feeds that promote decentralization and security on a global scale. Mendieta highlighted the advantages that DeFi stands to gain from Keyrock’s expertise as a seasoned market player in the data provider landscape, hinting at a potential bridge between traditional centralized markets and decentralized markets.
Ultimately, Keyrock is committed to its mission of providing universal access to cryptocurrency liquidity while maintaining transparency, operational integrity, and full regulatory compliance. This collaboration with the Pyth Network marks a significant milestone in Keyrock’s journey towards realizing its vision.
