We are thrilled to share that Pyth (PYTH) is now listed on Coinhako!
What are Pyth Network and PYTH?
The Pyth Network is the largest and fastest-growing first-party Oracle network that delivers real-time market data to financial dApps across 40+ blockchains. It provides low-latency price feeds across cryptocurrencies, equities, ETFs, FX pairs, and commodities.
PYTH is the native token on the Pyth Network that allows token-holders to determine high-level parameters of the Oracle network's mechanisms through on-chain voting. The on-chain governance addresses major protocol matters such as the size and denomination of Oracle fees, the reward mechanism for data providers, and the listing of new data feeds.
PYTH maintains a max supply of 10,000,000,000 coins and has traded for USD $1.20 at its peak.
How does Pyth work?
The Pyth network comprises some of the world's largest exchanges, market makers, and financial services providers and operates by utilizing 3 components:
Data Providers
Pyth's contributors include global exchanges, trading firms, market makers, and various institutional and decentralized participants. They provide proprietary data in two main categories: tradeable asset prices from exchanges and the latest transaction prices from traders.
Pyth Protocol
Pyth's protocol aggregates data from multiple providers to generate a unified price and confidence interval every 400 milliseconds. This process takes place on Pythnet, a blockchain with proof-of-authority configuration, ensuring data accuracy and robustness.
Data Users
Pyth's applications on supported blockchains utilize aggregated price feeds, seamlessly integrating data into smart contract logic. Pyth's unique "Pull Oracle" architecture lets data users request price updates as necessary, ensuring gas efficiency by only charging for required prices and avoiding unnecessary fees.
Why does Pyth stand out?
Pyth Network provides 380+ price feeds for various assets, updating every 400ms for accurate smart contract operations. Each feed includes a confidence interval to indicate market volatility and uncertainty.
Its price data is sourced from trusted institutions contributing to the network. Over 90 data providers publish their proprietary price data to the Pyth Network for dApps to use. These sources include major crypto and traditional exchanges, trading firms, financial services providers, and DEXs.
Integrating with Pyth Price Feeds is permissionless on over 40 blockchains, such as Ethereum, Optimism, Arbitrum, Solana and more. Developers have access to all 380+ Pyth Price Feeds across Pyth-supported blockchains for rapid multi-chain expansion in smart contract protocols.
What can you do with PYTH on Coinhako?
will be available for users to trade across all swap pairs on Coinhako.
To gain access to any of these trading pairs, you can either:
- Fund your SGD wallet on Coinhako instantly with PayNow (or any other supported payment method)
- Purchase instantly with Visa / Mastercard
Please note that the sending and receiving of PYTH will not be available for this release.
Risk Warning on Digital Payment Token Services
Hako Technology Pte Ltd ("Coinhako") is licensed to provide digital payment token services under the Payment Services Act 2019 (No. 2 of 2019).
The Monetary Authority of Singapore ("MAS") requires us to provide this risk warning to you as a customer of a digital payment token ("DPT") service provider.
Before you pay your DPT service provider any money or DPT, you should be aware of the following.
- Your DPT service provider is licensed by MAS to provide DPT services. Please note that this does not mean you will be able to recover all the money or DPTs you paid to your DPT service provider if your DPT service provider’s business fails.
- You should not transact in the DPT if you are not familiar with this DPT. This includes how the DPT is created, and how the DPT you intend to transact is transferred or held by your DPT service provider.
- You should be aware that the value of DPTs may fluctuate greatly. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens.
- You should be aware that your DPT service provider, as part of its licence to provide DPT services, may offer services related to DPTs which are promoted as having a stable value, commonly known as “stablecoin”.
Visit: Coinhako.com/risk-disclosure for more information.