Gate.io's Announcement about Joining Pyth Network
The field of decentralized finance (DeFi) has developed rapidly in 2021. Its eco and market value have attracted the attention of many top financial institutions. Gate.io is also doing its part to help increase the overall application and adoption of decentralized finance. It launched a highly innovative DeFi exchange protocol named HipoSwap. The protocol is committed to providing users with the best products and contributing to the development of the industry.
To further promote the development of decentralized finance, we are officially announcing that we have joined the Pyth Network.
Pyth Network is a decentralized financial data distribution network built on Solana. It connects high-fidelity market data from the world's largest professional traders and exchanges. It is solving DeFi's oracle problem by providing a decentralized, cross-chain market with verifiable data from high-quality nodes .
Gate.io directly provides real-time cryptocurrency pricing data to Pyth Network, which will create more transparency in the crypto market. This will establish trust in the broader cryptocurrency eco while supporting Pyth Network's vision. The use of high-performance blockchains to distribute readily available, real-time and verifiable data is what sets Pyth Network apart from the rest.
With the development of decentralized finance, a new financial order is taking shape. Based on the cryptocurrency data provided by Gate.io, investors on the Pyth Network can obtain data and call it directly on the chain. Gate.io will utilize its strong position in the global crypto market to expand the use of cryptocurrency data. This will accelerate the development of decentralized finance and the overall transformation of Gate.io's financial eco.
To access Pyth Network, please click：https://pyth.network/
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Oct 18, 2021
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