New listing: BCM welcomes Pyth Network (PYTH)

January 12, 2024

We are pleased to announce that Pyth Network (PYTH) is now part of our growing portfolio of digital assets.

What is Pyth Network?

‍PythNetwork is an advanced platform that plays a crucial role in the world of blockchain and decentralized finance (DeFi). In essence, it is a system that collects and makes available accurate and up-to-date financial market data. What sets Pyth Network apart is that it obtains its data directly from more than 90 trusted sources, such as major financial institutions and exchanges. This approach ensures that the data Pyth Network provides is not only reliable, but also highly accurate.‍

Why is Pyth Network important to DeFi?

‍Inthe world of DeFi, accurate and timely information is crucial. Whether trading cryptocurrencies, lending, or other financial activities, having reliable data helps make informed decisions. Pyth Network makes this possible by providing real-time data essential for these activities.

How does Pyth Network work?

‍PythNetwork} uses what is called a "Pull Oracle" system. This means that applications on the blockchain, when they need to, can 'pull' the latest price information themselves. This is an efficient way to handle data, as it saves unnecessary operations and costs. More than 250 applications on more than 45 different blockchains are already using Pyth Network's data.‍

What does PYTH's listing mean for BCM users?

‍Bymaking PYTH available, we offer our users the opportunity to be part of this innovative approach to market data in the blockchain space. This means that our users can now invest in PYTH and thus have the opportunity to diversify their investment portfolio in the fast-growing field of DeFi.