TL;DR
- The Pyth Network data provider community welcomes Portofino Technologies.
- Portofino Technologies is a crypto native technology start-up specializing in market making.
- The Pyth network currently supports more than 50 blockchains, with total TVS surpassing $7 Billion.
Pyth Network has a large footprint within Web 3 as an accurate price data provider. Today, Pyth Network announced another major milestone in its growth journey. The data provider has partnered with Portofino Technologies, an established crypto native technology start-up that focuses on market making, token services, and Web 3 investments.
Portofino Technology’s collaboration with Pyth Network is huge, and crypto fans are excited about the announcement. As an esteemed data provider, Protofino’s input will improve Pyth Network’s data credibility and accuracy. Portofino technologies will provide a wider array of comprehensive data tools that will add to the existing infrastructure developed by Pyth Network.
As of this writing, Pyth Network’s Total Value Secured (popularly known as TVS) has surpassed the $7 Billion mark. These figures show how much blockchain developers depend on the Pyth Network for reliable and accurate data, furthering its use cases within the industry.
Portofino Technologies will contribute its proprietary data on crypto prices to help safeguard the Pyth Netowork price feeds. The Pyth Network will benefit by receiving comprehensive and real-time crypto price data that it can relay to blockchain developers globally.
“We are excited to collaborate with Pyth Network and the team on its journey as a decentralized data provider. We look forward to leveraging our in-house proprietary market making technology and experience to contribute to the growth of the Pyth ecosystem” – Leo Lancia, the CEO and Co-Founder of Portofino Technologies
Portofino Technologies: Who are they?
Pyth Network is excited to have Portofino Technologies join its robust community of data providers because of the apparent value that comes with it. Portofino Technologygies is a Swiss based amarket maker. It typically uses advanced technology to execute trades in OTC and centralized and decentralized cryptocurrency markets. Besides trading, the platform also offers comprehensive treasury management and general token services to Web3 organizations.
“Pyth’s low-latency oracle and innovative data technology, will be the foundation and growth of DeFi. We are extremely excited to partner with the Pyth contributors and look forward to enabling our proprietary technology to help contribute to the overall Pyth ecosystem.” — Shane O’Callaghan, Global Head of Business Development
Pyth mission to build a comprehensive decentralized marketplace with credible financial data is underway as the platform continues to onboard new like-minded partners.
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