The Oracle of Pyth

*Note: As of the date this report was queued for publication, there have been severe disruptions on the Solana network. These disruptions may be impacting the consistency and accuracy of Solana oracle data.

Pyth Takes on Oracle Sector Dominated by Chainlink

When people think of oracles, they think of Chainlink, and for good reason. A darling from the 2018-19 bear market, Chainlink is the most well-known and used oracle today, securing ~$12B across over 200 protocols, the majority of TVS (Total Value Secured) being Ethereum lending protocols Aave and Compound. These two lending protocols make up just over half of Chainlink’s TVS alone. Pyth is a new player who started last year with a focus on Solana and, more recently, is looking to branch out.