About

Pyth Network is a blockchain-based oracle service that supplies near real-time price data for assets such as cryptocurrencies, commodities, and equities. It delivers offchain financial data to smart contracts on various blockchains for use in decentralized applications.

History

Pyth was first announced in a blog post on April 7, 2021, and was founded to provide institutional-grade pricing data for blockchain-enabled decentralized finance (DeFi) markets. According to CoinDesk (third party), Pyth was incubated by Jump Trading. The team at Jump Trading working on Pyth was eventually spun out as Douro Labs in July 2023. Duoro Labs was founded by Michael Cahill, Jayant Krishnamurthy, and Ciarán Cronin.

Pyth’s mainnet launched on Solana on Aug. 26, 2021, offering price feeds for over 30 crypto assets on Solana, Ethereum, and Terra. By the end of 2021, Pyth had onboarded over 40 data providers and 55 price feeds.

On Aug. 1, 2022, Pyth launched Pythnet, a Proof-of-Authority (PoA) network whose codebase is a fork of Solana. On Oct. 10, 2022, Pyth announced that price feed data would be provided to additional networks through further integration with Wormhole. By the end of 2022, Pyth’s price feeds were supported on eight networks.

On Nov. 1, 2023, the project’s retrospective airdrop of the PYTH token was announced. Eligible recipients included active DeFi users, community members, and protocols that utilize price feed data from Pyth. On Nov. 20, 2023, the airdrop went live alongside Pyth’s onchain governance structure.

In January 2024, Pyth launched on Blast, introducing Entropy random numbers & 400+ price feeds. This partnership recognized Pyth Network as the preferred oracle partner of the Blast ecosystem.

In March 2025, the Pyth DAO voted to approve the establishment of the Community Council, expanding the protocol’s governance to include a 7-member group managing multi-sig wallets and supporting community, non-technical initiatives.

In May 2025, Pyth partnered with Integral, bringing Integral's infrastructure on-chain, allowing for decentralization of traditional FX pipelines.

In June 2025, the team introduced the launch of price feeds for the world's largest ETFs by AUM and trading volumes. At the same time Pyth brought real-time, on-chain pricing for the UK’s most actively traded equities to developers, builders, and protocols everywhere.

In July 2025, Pyth Network launched Entropy V2, a major upgrade to its onchain randomness service, allowing for more complex on-chain logic.

By October 2025, Pyth welcomed Blue Ocean ATS to its network, which brings SEC-registered, institutional US equity pricing during critical after-hours trading periods. At the same time B2C2, a leading crypto-native liquidity provider, also joined the network providing institutional liquidity data.