Douro Labs Joins Network to Work on Perseus Upgrade as well as Permissionless Mainnet with Token-Led Governance
PORTO, Portugal–(BUSINESS WIRE)–Douro Labs, a software development company dedicated to advancing the Pyth Network, officially launches today and is excited to be joining the network as the latest core contributor. The Pyth Data Association and the Pyth Network’s community includes a vast network of data contributors including top trading firms, leading exchanges, and premier crypto companies globally including Cboe Global Markets, Optiver, IMC, Flow Traders, OKX, Bybit, Wintermute, QCP Capital, Auros, Susquehanna International Group, and LMAX. The Douro Labs entity will initially work to implement the Perseus Upgrade and bring the network into a permissionless mainnet with token-led governance for the fall of 2023.
Pyth Network is the largest first-party oracle for financial data. Oracles are programmatic data feeds that bring off-chain data on-chain for smart contracts to use. They are an essential component of decentralized finance (DeFi). The Pyth Network provides low-latency, high-fidelity, and tamper-resistant price data feeds directly to blockchains through a vast network of first-party data providers.
“We are thrilled to welcome Douro Labs as the newest contributor to the Pyth Network,” said Marc Tillement, Director at Pyth Data Association. “The Pyth Data Association was formed with a mission to create the largest, most robust financial data marketplace for decentralized finance to build on. Thanks to a diversity of contributors and a growing ecosystem of users, the Pyth Network has quickly become the largest first-party oracle network.”