Two Sigma Securities announced it’s joining the Pyth network, a decentralized financial market data distribution platform, aka as an oracle in crypto. Two Sigma Securities will provide its proprietary US equities pricing data to the Pyth network, and explore contributing data for other asset classes as the network scales.
Chris Marty, CEO of Two Sigma Securities, said in a statement: “Building foundational infrastructure for DeFi to grow will enable transformative innovations in the financial marketplace.”
The Pyth network is built on Solana, a blockchain that can handle 50,000 transactions per second, making it well-suited for timely receipt and distribution of fast-moving data contributed from a diverse network of data providers. The Pyth network is also designed to be a cross-bridge project working across other blockchains to provide interoperable solutions between platforms.
Pyth now has over 30 data providers contributing real time pricing and over 120 projects using the oracle. Jump Crypto president Kanav Kariya said in a statement: “The Pyth roster is a wildly impressive list of the world’s most prominent trading firms, several regulated exchanges, and foundational crypto companies, but Two Sigma brings a unique perspective as an industry leading quantitative firm to join the network.”