Pyth Network Launches Oracle Integrity Staking to Enhance Data Reliability in DeFi with High Rates

Sep 21, 2024, 07:21 AM

Pyth Network has announced the launch of Oracle Integrity Staking (OIS) at Breakpoint. OIS aims to enhance economic alignment for oracle data publishers, resulting in more reliable data feeds for developers. The new system introduces on-chain staking rewards and slashing mechanisms, allowing users to stake PYTH to secure the oracle and earn rewards. Pyth Network, which provides oracle services for over 70 blockchains with more than 530 price feeds, is positioning this initiative to support accurate price data in DeFi applications. The initiative also aims at rewarding DeFi and maintaining high rates for good publishers.