Staying true to our innovative nature, IMC Trading has partnered with the Pyth Network—an oracle that publishes financial market data to multiple blockchains. Through this partnership, IMC will publish real-time cryptocurrency price data onto the Pyth Network to help solve the DeFi oracle problem.
What is the DeFi oracle problem you ask? Say no more, because we’re here to shed some light. Decentralized finance relies on high-fidelity, time-sensitive, real-world data, but has no way to access it. Until the Pyth Network came along that is…
With their mission to deliver a decentralized, cross-chain market of verifiable data from high-quality nodes, the Pyth Network is creating a fairer, more transparent world for everybody. And this is precisely what IMC stands for—making this partnership more of a natural evolution.
When asked about the partnership, Chief Technology Officer at IMC, Arno de Quaasteniet, commented; “We have always recognized the value of technology as a driver for more efficient and transparent financial markets. We see the vast potential blockchain technologies bring to this, and naturally want to support innovators, such as Pyth, who are actively pushing boundaries in this space.”
Through this alliance, IMC is helping demystify the Decentralized Finance world by providing accurate, high-fidelity and low latency financial data to secure the next generation of Decentralized Finance. It’s a node to the future—making smart contracts more accurate to help the world shift into a vastly reliable global economy with state-of-the-art security and instant response times.
“This partnership once again demonstrates the strength of Pyth’s community, bridging the gap between ‘TradFi’ and ‘DeFi’,” commented Stephen Kaminsky, special projects at Jump Crypto, one of the leading institutions behind Pyth.
And this is just the start. With bigger plans on the way, IMC is already looking to expand into other classes in scope as the Pyth Network continues to scale.
See more info at Pyth Network, read the white paper, see docs, or go to wiki.