OKX, the world’s second-largest cryptocurrency exchange, today announced that it is partnering with Pyth network, a next-generation Oracle solution built on the Solana blockchain and designed to provide trusted and verifiable market data to decentralized applications.

“Given the recent liquidation events in DeFi, we understand that a high-performance, robust and low latency market data oracle service is crucial in developing financial products in DeFi. The Pyth network, with sub-second latency and its rapidly growing network of highly respected data partners, is an example of this exciting potential.”

                                                           Lennix Lai, OKX Director of Financial Markets.

Pyth runs one of the biggest and most dependable oracle networks, obtaining price information from more than 70 top organizations in both traditional and cryptocurrency finance. Pyth uses the Wormhole messaging protocol to gather and publish data at sub-second rates, making it accessible across blockchains. The DeFi ecosystem now relies on Pyth Network as the most dependable source of financial data.

“OKX has firmly established itself as a leading global crypto exchange known for innovation and security. Their commitment to DeFi and Web3 resonates with Pyth’s mission of promoting more efficient on-chain markets and we look forward to partnering with them on this journey.”

                                                    Michael Cahill, Director of the Pyth Data Association.