Huobi Global Inks a Data-Sharing Partnership with Pyth Network

Pyth network, a next generation oracle solution, today announced a new data-sharing partnership with world-leading cryptocurrency exchange Huobi Global. Huobi Global will share its valuable cryptocurrency data directly on-chain to Pyth, enabling it to better provide financial data for its global DeFi ecosystem.

The Pyth network is a core piece of DeFi infrastructure with price feeds derived from a community of over 65 of the world's leading trading institutions, exchanges, and crypto companies, each providing data across Crypto, FX, Equities and Commodities.

The network incentivises market participants to share directly on-chain the price data collected as part of their existing operations. The network then aggregates this first-party price data (still on-chain) and makes it available for use by either on- or off-chain applications. It has established itself as the most reliable source of financial data for the DeFi ecosystem.

Huobi CFO Lily Zhang said:"Data oracles are an integral part of the decentralized world, and only those with low latency and high reliability can serve as the bedrock for sustainable DeFi protocols. Pyth network, with its fast-growing network of well-respected data partners, exemplifies such exciting potential."

Mike Cahill, Director of the Pyth Data Association, said:"Huobi Global has established itself as a leading crypto exchange within the crypto economy and we look forward to bringing their digital asset data on-chain as we continue to build the future of finance and create more efficient, decentralized markets."