The latest announcement from the Pyth Network introduces Keyrock as its newest addition to the data provider community, marking a significant milestone in enhancing the oracle network. With a presence across more than 100 DeFi protocols on 60 different blockchains, the integration of Keyrock is poised to propel Pyth’s growth in data suppliers and blockchain services.
Keyrock, renowned for its expertise in algorithmic trading and automated market making liquidity provision for digital assets, has been at the forefront of asset pricing and liquidity development since 2017. Leveraging its extensive experience and technical prowess, Keyrock is well-positioned to elevate the Pyth Price Feeds, thereby fortifying the security and efficiency of DeFi protocols.
By incorporating its proprietary market data for cryptocurrencies, FX pairs, commodities, and US equities into the Pyth oracle, Keyrock enables the collection of price data from various top-tier data providers, typically up to 63, to deliver reliable and credible results for smart contract applications. This price data serves as a crucial foundation for DeFi platforms across different ecosystems, including Move, Bitcoin, EVM, Cosmos, and Solana.
Through its partnership with the Pyth Network, Keyrock expands its footprint in the DeFi realm while minimizing costs and risks. This strategic integration not only allows Keyrock to monetize its operational data but also provides additional incentives for its contributions.
Juan David Mendieta, CSO of Keyrock, expresses enthusiasm about the collaboration, emphasizing its role in enhancing on-chain price feeds and reinforcing decentralization and security globally. He highlights the benefits that DeFi stands to gain from Keyrock’s expertise as a seasoned market player and envisions a seamless transition from traditional centralized markets to decentralized ones.
Driven by its mission to democratize access to cryptocurrency liquidity while upholding transparency and regulatory compliance, Keyrock’s partnership with the Pyth Network represents a significant step towards realizing its vision of a more inclusive and secure financial ecosystem.