Amberdata Joins the Pyth Network as a First Party Data Provider

NEW YORK, March 1, 2022 /PRNewswire/ -- Amberdata, the leading provider of digital asset data, today announced it has joined the Pyth network, a next-generation oracle platform designed to provide trusted and verifiable market data to decentralized applications. Through its market leading comprehensive data infrastructure, Amberdata will provide real-time crypto price data to the Pyth network.

Data oracles like the Pyth network connect blockchains to the off-chain data sources required for decentralized financial (DeFi) applications. Off-chain data has historically been accessible on-chain only through third-party oracles, which increase manipulation or failure risk, and dilute the true sources of data. The Pyth network addresses these problems by bringing real-world data to the Solana blockchain to start, in a secure and transparent manner. Amberdata joins more than 45 prominent data publishers across various asset classes, including digital assets, equities, and FX. Participants in the Pyth network include FTX, Galaxy Digital, Jane Street, Jump Trading Group, LMAX, Virtu, and CoinShares.

"At Amberdata we believe data provider transparency is critical to the success of DeFi, so we're excited to join the Pyth network as a first party provider," said Shawn Douglass, CEO of Amberdata. "We believe that this important partnership will enable us to reach an even broader audience of developers and projects, ensuring they have the most comprehensive, high-fidelity digital asset data to power their applications."

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About Amberdata
Amberdata is the leading provider of digital asset data. We deliver comprehensive data and insights into blockchain networks, crypto markets, and decentralized finance, empowering financial institutions with data for research, trading, risk, analytics, reporting, and compliance.  Amberdata serves as a critical piece of infrastructure for financial institutions entering the asset class and participating in digital asset markets. To learn more, visit amberdata.io.

About the Pyth Network
The Pyth Network is a specialized oracle solution for latency-sensitive financial data that is typically kept behind the "walled gardens'' of centralized institutions. The Pyth network is focused on finding a new and inexpensive way to bring this unique data on-chain and aggregating it securely. For more information about the Pyth network, please visit pyth.network.

About the Pyth Data Association
The Pyth Data Association was created in support of the Pyth network, a specialized oracle solution for latency-sensitive financial data that is typically kept behind the "walled gardens'' of centralized institutions. The Pyth Data Association is overseen by a board of directors elected by members of the Pyth network

SOURCE Amberdata