With the partnership, Pyth Network will continue to secure trading systems and expand its footprint from the more than $25 billion it has recorded to date.
Algorithmic trading and market-making firm, Auros has announced its strategic partnership with the oracle service provider, the Pyth Network. As contained in a press release shared with Coinspeaker, the partnership is mutually beneficial to both protocols as the Pyth Network will be receiving pricing data from a broad range of digital currencies from Aptos.
The linkup will go a long way in ensuring that the Pyth Network maintains its tag as the next big hub for institutional trading support by providing accurate price feeds from as many as 70 data providers.
“Auros is thrilled to be joining the Pyth Network to contribute reliable, high fidelity data for all,” said Ben Roth, Co-Founder, and CIO of Auros. “By sharing our high-frequency trading data with a truly onchain decentralized network, we aim to foster innovation that will lead to better financial solutions for all participants. We expect the Pyth Network will become an invaluable part of a future decentralized financial system and are delighted to be partnered with them on this mission.”
The Auros technology has been tagged as one of the most superior in the crypto trading world when it comes to best-in-class pricing data. For the robust business model being vied for by the Pyth Network, the Auros contribution will go a very long way.
Auros suitability comes from its core design. As contained in the shared press release, the Auros protocol “combines a large variety of source data, then filters for quality and accuracy at sub-second intervals to ensure that pricing is lightning quick to respond to market changes.” This swift market change is ideal to maintain an edge over its competitors as customers can easily catch minute changes in the market in real time.
Auros to Help Push the Pyth Network Advantage
There are many oracles in today’s Web3.0 ecosystem, most of which were launched after Chainlink. The latest oracles including the Pyth Network are carving out a niche for themselves through the provisions of reliable price and data feeds, necessitating the need for partnership with reliable partners.
That the Pyth Network aggregates and publishes data at sub-second speeds for more than 90 price feed across Crypto, Equities, FX, and Metals makes it one of the most diverse oracles around. The protocol’s tech efficiency is being bolstered as it is made available across blockchains via the Wormhole messaging protocol.
“Pyth has attracted the most sophisticated trading firms in both traditional and digital asset markets, so it is of no surprise to see another premier high-frequency market maker join the Pyth community. Auros price data will undoubtedly help empower more projects and protocols in DeFi and Web3,” said Stephen Kaminsky, Special Projects at Jump Crypto, one of the leading institutions contributing to Pyth.
With the partnership, Pyth Network will continue to secure trading systems and expand its footprint from the more than $25 billion it has recorded to date.
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
Source: https://www.coinspeaker.com/auros-pyth-network-on-chain-data/