DeFi and TradFi firms are borrowing each other’s benefits
The Waters Wrap: As blockchain tech gains a small foothold in market data, Nyela says the thing separating blockchain’s previous craze and its second wind is choice.
The Pyth Network first pinged my radar in 2022. It had been spun out of prop-trading firm and crypto market-maker Jump Trading in 2021 as a peer-to-peer network and decentralized oracle. In layman’s terms, it’s a device or entity that connects a blockchain with off-chain data.
At the time, a story about a crypto oracle serving the crypto industry wouldn’t have been of much interest to us. Crypto exchange FTX had just collapsed, and it looked like the asset class had been dealt a major blow.
But
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