Talos Joins Pyth Network to Bring Trusted Market Data onto Blockchains
- Blockchain , Data
- 07.12.2021 04:20 pm
Talos delivers institutional-grade market data on-chain in a sub-second frequency
Talos, a leading provider of institutional trading technology for digital assets, today announced that it has joined the Pyth Network, a next-generation oracle platform designed to provide trusted and verifiable market data to decentralized applications. This partnership will include Talos providing real-time institutional crypto market data to the Pyth Network.
Data oracles like the Pyth Network serve as the connection between blockchains and the off-chain data sources necessary for decentralized financial (DeFi) applications. Further improvements in DeFi require high-fidelity, time-sensitive, real-world data, which has historically been inaccessible on-chain. The Pyth Network solves that problem by bringing real-world data to the Solana blockchain in a tamper-resistant environment. Announced in August 2021, the Pyth Network has seen impressive growth -- nearly 40 data providers are now beginning to contribute real-time pricing across crypto, equities and FX -- and many decentralized applications are starting to use the oracle on Solana.
Anton Katz, Co-Founder and CEO of Talos, said: “Institutional adoption of digital assets is well underway at this point, but what we’re also starting to see is these same institutions adopt DeFi. We are excited to be a part of this project that helps further advance critical DeFi infrastructure and has the potential to unlock greater efficiency and transparency in our financial system. We look forward to working alongside leading players across both the crypto and TradFi ecosystems -- firms like Jump Trading, DRW, FTX, 0x, Galaxy, Jane Street, IEX, Two Sigma and Virtu -- on this exciting project.”
Founded in 2018 by Anton Katz and Ethan Feldman, Talos has rapidly scaled its business since announcing its platform in October 2020. In May, Talos closed a $40 million Series A investment round led by Andreessen Horowitz, with investments from PayPal Ventures, Fidelity Investments, Galaxy Digital, Elefund, Illuminate Financial and STEADFAST Capital Ventures.