Cryptocurrency exchange KuCoin has just announced a strategic partnership with Pyth Network, a following-generation Oracle answer primarily based on Solana’s blockchain that aims to supply trusted and verifiable market place information for decentralized applications.
With this partnership, KuCoin will supply genuine-time charges of trading pairs listed on KuCoin to the Pyth Network.
Pyth Network is a major oracle in the DeFi ecosystem, primarily based on pricing information offered by practically 60 significant standard and crypto money institutions. The network acts as an incentive for market place participants – trading organizations, market place makers and exchanges – to share information straight across the chain. The network then aggregates and delivers the most exact pricing information for on-chain and off-chain applications.
KuCoin CEO Johnny Lyu stated:
“As a major exchange, KuCoin is committed to supplying end users with the most effective crypto working experience, joining forces with several institutions to carry cryptocurrencies closer to the masses. Chaining genuine-planet information is one particular of DeFi’s important infrastructures. We aim to make a transparent on-chain information market place by Pyth Network as a key spouse. Together, we will generate a new, a lot more collaborative and open planet of DeFi and carry cryptocurrency closer to the masses. “
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