Hassan Maishera
On Tuesday, the Pyth Network announced via a blog post that it has partnered with MarketVector Indexes to deliver institutional-grade basket indices, administered as benchmarks by MarketVector, for the 24/7 markets era.
The partnership combines two complementary capabilities. Pyth contributes the underlying data, real-time pricing infrastructure, and continuous 24/7 sourcing across asset classes.
MarketVector, a VanEck company and a regulated benchmark administrator with over $100 billion in assets tracking its indices, contributes index design, BMR, and IOSCO-compliant methodology governance, calculation, administration, and TradFi distribution.
The first products are live today. Coinbase Derivatives launches four basket indices co-developed by Pyth and MarketVector: AI10, Defense10, China10, and Tech100.
Pyth Network is an innovative decentralized oracle that sources financial market data from over 90 first-party publishers, including major exchanges and market-making firms worldwide.
The Pyth Network is the largest and fastest-growing first-party oracle network. Pyth delivers real-time market data to financial dApps across 40+ blockchains and provides 380+ low-latency price feeds across cryptocurrencies, equities, ETFs, FX pairs, and commodities.
The network comprises some of the world's largest exchanges, market makers, and financial services providers who contribute their own price data for use by smart contracts. Participants in the network include Binance, OKX, Jane Street, Bybit, Cboe Global Markets, and more.
The Pyth oracle program aggregates its data on-chain to guard against inaccuracies and manipulation. Finally, the protocol allows users to "pull" the latest price onto their blockchain when needed.
In less than a year since the launch of the cross-chain pull oracle, the network has secured over $1B in total value. The Pyth Network has been used by over 250 applications to secure $100B in trading volume. Integration with Pyth Price Feeds is permissionless. PYTH is up 0.4% in the last 24 hours, trading at $0.03920 per coin.
