Pyth Network

Pyth Network is a decentralised oracle network that collects real-time financial market data from institutional sources and delivers it to smart contracts running on multiple blockchains. The problem it addresses is that decentralised applications have no native way to access accurate, low-latency price information from traditional markets, which is essential for applications such as lending protocols, derivatives platforms, and other DeFi services. Developers are the primary users, integrating Pyth's price feeds into their smart contracts rather than building their own data pipelines.

Data publishers, which are typically institutional market participants, push price and confidence-interval data onto the network at high frequency, and Pyth aggregates these contributions into a single price feed that smart contracts can query on-chain. The PYTH token exists within this ecosystem, though the data available here does not detail a specific on-chain consensus algorithm or block time in the conventional sense, as the network relies on Pythnet, a dedicated appchain, to coordinate data before it is bridged to destination blockchains. Circulating supply stands at approximately 7.87 billion tokens against a maximum supply of 10 billion, meaning roughly 78.75 percent of all tokens that will ever exist are already in circulation.

The data stored for Pyth Network does not include a fee revenue stream, so this site carries no fee-based metrics such as price-to-fees or protocol revenue figures for this asset. This means that standard fee-derived measures used elsewhere on this site are not applicable here and are absent from the profile. What is recorded is market structure: the fully diluted valuation is approximately 1.27 times the current market capitalisation, reflecting the roughly 26.98 percent of maximum supply not yet in circulation, which represents potential future dilution.