Pyth Network has launched a real-time oil market data feed for West Texas Intermediate (WTI) and Brent crude oil. The Pais team highlighted the multi-trillion dollar opportunity in the energy market to enable DeFi applications such as oil-based derivatives and perpetual futures. The launch follows VanEck's recent listing of PYTH Exchange Traded Notes (ETN) in Europe, allowing investors to track PYTH performance without direct exposure.
Decentralized oracle provider Pyth Network has launched a real-time oil market data feed for West Texas Intermediate (WTI) and Brent crude oil. This officially extends the protocol's data services to include energy markets.
The new price feed aggregates data from trusted financial sources such as exchanges, market makers, and index providers and makes it accessible on over 80 blockchain networks. Storm Trade, a Telegram-based perpetual futures trading platform, becomes the first DeFi protocol to integrate Pyth’s oil price feed.
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Developers can use these feeds to create decentralized finance (DeFi) applications linked to energy markets, such as oil-based derivatives, perpetual futures, and other financial instruments. However, the team clarified on their X account:
Why it matters: Energy markets = trillion dollar opportunity. These feeds allow DeFi to tap into real-world products and expand beyond cryptocurrencies into areas where institutional capital resides. Think about diversifying your portfolio, hedging risk, and enhancing liquidity.
pais network
Pyth ETN enables public exposure without holding crypto
This comes just a month after asset manager VanEck expanded its crypto offering in Europe to include the new Pyth Exchange Traded Note (ETN).
As reported by Crypto News Australia, the ETNs listed on Euronext Amsterdam and Euronext Paris will allow investors to access the PYTH cryptocurrency, a token of the Pais Network, without directly owning or controlling the assets. exposure. This simplifies your participation in the cryptocurrency market while tracking the performance of PYTH.
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Pyth Network is a popular DeFi protocol built on Solana. We use data from the biggest market makers in crypto and traditional finance, including CBOE, Jane Street, OKX, and Bybit. In other words, it works like a charm for data collection, protected and verified using advanced encryption techniques.
Marc Tillement, director of the Pyth Data Association, said that Pyth's extensive coverage of over 500 price feeds allows projects to quickly access price data from over 100 crypto markets. This permissionless access allows protocols to be launched on new blockchains with minimal barriers.
