Digital Asset Research (DAR) Joins Pyth To Provide ‘Clean’ Crypto Pricing For DeFi and Smart Contracts
- 01.03.2023 09:35 am
Digital Asset Research (DAR), a leading provider of ‘clean’ crypto data, insights, and research, announced today that it joined the Pyth network, an oracle solution designed to deliver real-time, high-fidelity, market data on the blockchain on a sub-second timescale.
Pyth network has established itself as the leading oracle solution for financial data, with more than 75 data providers contributing real-time prices across asset classes including FX, Equities and Commodities apart from Crypto. Pyth data oracles are available to consume off-chain and on-chain across blockchains via the Wormhole network. Initially, DAR will publish real-time prices for 125+ crypto assets to the Pyth oracle, with plans to expand its data contribution as the network grows in scope.
Known for its transparent pricing methodologies, DAR brings quality to crypto pricing data through a process that starts by assessing over 450 exchanges quarterly to qualify only ~5% of evaluated exchanges as inputs for the calculation of institutional-quality prices. This rigorous process makes DAR’s contribution to the Pyth oracle reflect the highest standards in crypto pricing.
Doug Schwenk, DAR’s CEO, stated, “As a specialized provider of digital asset data, we’re honoured to join Pyth in growing their oracle network and to contribute to the DeFi ecosystem overall. We look forward to furthering their greater mission of delivering reliable, accurate, real-time pricing data to hundreds of applications from lending protocols to derivative platforms.”
Abhimanyu Bansal, a contributor to the Pyth network, stated, “DAR is trusted by leading institutions for the quality and depth of their crypto market data. In the same vein, Pyth, as the leading oracle, has been immensely successful in bridging the gap between traditional and decentralized finance. We are confident that our partnership together will promote the growth of and attract new participants to DeFi.”