back05 Dec 20233 min read
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Expanding the Pyth Community: Strategic Capital and New Builders

Today, the Pyth Data Association is excited to announce the successful completion of a strategic fundraise that brings new backers, thought leaders, and contributors into the Pyth community.

The community today includes data providers (comprising top trading firms, finance institutions, and global exchanges), data users (comprising of applications and projects being built across 45+ ecosystems), and DeFi users, who are now participating in one of the largest airdrops in the history of crypto.

This round expands the Pyth community to new stakeholders and individuals dedicated to advancing decentralized capital markets. These new community members include Castle Island Ventures, Multicoin Capital, Wintermute Ventures, Borderless Capital, CMT Digital, Bodhi Ventures, Distributed Global, and Delphi Digital. New stakeholders will help the network grow through enhanced access to new capital sources, participation in governance and protocol improvements, and strategic guidance.

These early and long-term supporters have helped transition the network to a permissionless mainnet with token-led governance. The new additions to the community are further validation of Pyth’s vision, and will help accelerate our mission to bring the world’s data on-chain.


The Year in Review

It’s been a big year for Pyth.

The network has grown to support nearly 400 real-time price feeds across more than 45 blockchains, serving over 230 on-chain and off-chain applications. Furthermore, the network continues to grow at a rapid clip, with three new applications on average integrating Pyth every week. Pyth Price Feeds also now power more than 25% of all blockchain applications that use an oracle. On top of that, the publisher network has grown to more than 90 data providers, including some of the largest market makers and exchanges in the world.

Pyth currently powers many of the industry’s leading borrow/lending, perpetual futures, synthetic derivatives, structured product vaults, portfolio management, and data analytics platforms.

”Pyth has established itself as a best-in-class, oracle provider by amassing a deep roster of data providers, providing reliable, high frequency, and robust data and has rapidly gained market share. We’re excited to re-double our conviction and follow Pyth’s transition into a community-governed protocol—a necessary step that ensures the data will remain a bias-free shared resource.” — Nic Carter, Managing Partner, Castle Island Ventures.

"High-fidelity and low latency oracles remain key in unlocking significant value for major blockchain applications. Pyth has established itself as a leader in providing first-party, real-time market data feeds, secured by the world's leading financial institutions as data publishers. Being a fully permissionless and decentralized protocol, with extensive integrations throughout the web3 ecosystem, Pyth is well positioned to serve as a foundational cross-chain Web3 primitive to fuel the forthcoming wave of blockchain innovations and growth.” — Alpen Sheth, Borderless Capital.

"Pyth has carved out a clear niche in proving a new oracle model that is finding fit with high throughput DeFi. As crypto evolves we’re excited to see the protocol service more of the ecosystem while beginning it’s decentralization and governance journey.” — Jordan Momtazi, Bodhi Ventures.

“Wintermute Trading has been part of the Pyth Data Provider Community since early 2022, and we are excited to expand our collaboration with the Pyth Network through a direct investment from Wintermute Ventures. Pyth has emerged as the leading Oracle network with first-party data, and we believe it will be a fundamental primitive for decentralized and centralized trading applications in the future.” — Jonas Kristensen, Wintermute Ventures.

"We are huge believers in the Pyth Network, and we are thrilled to continue to support the project. By unlocking first-party data through rational incentivization and alignment structures with data owners, we believe Pyth represents the next iteration of the market data paradigm and is a leap forward in the advancement of finance, both decentralized and centralized." — Sam Hallene, Investment Partner at CMT Digital.

Most recently, the biggest achievement has come in the way of governance upgrades. The recent airdrop and this strategic raise contribute to developing a thriving community, bringing in key, long-term stakeholders to help govern the network in a decentralized way.

Where Will Pyth Go From Here?

That answer is now up to you.

Over 60% of the total retrospective airdrop has already been claimed as of December 4, 2023, and more than 600M PYTH tokens have already been staked on the governance platform.

The Pyth Data Association will now only be a participant—by design—alongside all of the other new token-holders and the new strategic governance participants.

Token ownership signifies a voice in the critical decisions that will steer the future of DeFi infrastructure as a whole.

We encourage everyone who has recently become a stakeholder to learn more about Pyth Governance and the role you can play in the Pyth DAO from this blog post.

To the community members who have supported the network since April 7, 2021, we would like to express our appreciation. To the new joiners who have claimed their retrospective airdrops or who may have recently learned about Pyth, we couldn’t be more excited to have you on this journey.


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