The Pyth Network has officially launched Pythnet, a high-performance blockchain built on the Solana codebase. This new AppChain is purpose-built to enable the Pyth Network to aggregate and deliver first-party financial data at sub-second speeds across multiple blockchains via the Wormhole cross-chain messaging protocol. With this milestone, Pyth reinforces its position as a leading decentralized oracle network, delivering high-fidelity price feeds for cryptocurrencies, equities, foreign exchange (FX), and other financial instruments.
Pythnet leverages Solana’s proven architecture—known for its high throughput and rapid finality—to power thousands of transactions per second. Its 400ms slot time allows for faster price updates than most Layer 1 networks, making it ideal for real-time financial data delivery in decentralized finance (DeFi) applications.
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Why Build on Solana?
The decision to build Pythnet on Solana was driven by performance, scalability, and alignment with existing infrastructure. Solana’s robust consensus mechanism and low-latency network enable Pyth to process over 700 price update operations per second on-chain today. By extending this foundation with a dedicated AppChain, Pyth can scale up to 20 times its current capacity—supporting tens of thousands of updates per second.
This expansion is critical as demand grows for reliable, low-latency pricing data across DeFi platforms, derivatives markets, and algorithmic trading systems. High-frequency updates reduce slippage, improve risk management, and increase trust in smart contract execution.
As Anatoly Yakovenko, Co-Founder of Solana, stated:
“Pyth cut its teeth on Solana bringing high-fidelity pricing data into Solana DeFi, and today is the most widely used Oracle on the network. Pythnet, built on the Solana codebase, creates greater ability to compute prices while publishing even higher fidelity data to Solana.”
Enhanced Oracle Architecture: Introducing Pull-Based Pricing
One of the most significant innovations introduced with Pythnet is the pull oracle—also known as an on-demand pricing model. Unlike traditional push-based oracles that continuously publish data regardless of usage, Pythnet allows developers to request price updates only when needed.
This mechanism improves efficiency by reducing unnecessary on-chain activity and lowering gas costs for applications. It also ensures that price data is always fresh at the moment of use, enhancing accuracy for time-sensitive operations like margin calls, liquidations, and trade settlements.
Developers can now integrate Pythnet Price Feeds using comprehensive documentation that includes real-world implementation examples. Projects like Ribbon Finance have already demonstrated how on-demand pricing enhances performance in options protocols.
Scaling Data Delivery Across Blockchains
Pythnet isn’t just about improving performance on Solana—it’s designed to serve a multi-chain future. Using the Wormhole protocol, Pythnet broadcasts high-quality price feeds to other blockchains, ensuring consistent and reliable data across ecosystems.
This cross-chain capability enables DeFi applications on Ethereum, Arbitrum, Avalanche, and beyond to access the same low-latency, first-party sourced pricing used by leading Solana protocols. With over 65 first-party data providers already contributing to Pyth’s ecosystem—including top-tier trading firms and exchanges—the network ensures minimal manipulation risk and maximum market coverage.
Mike Cahill, Director of the Pyth Data Association, emphasized the broader vision:
“Pythnet will improve core Solana price feeds, deepening the partnership between the Pyth Network and Solana. Furthermore, the Pyth Network continues to develop its staking and governance technology on the Solana network and is excited to announce the launch of its PYTH governance token as an SPL token.”
The Road Ahead: Governance and Ecosystem Growth
With the launch of Pythnet, the network is preparing for the rollout of the PYTH token, which will function as an SPL token on Solana. This token will underpin a decentralized governance model, allowing stakeholders to participate in protocol upgrades, fee structures, and data provider incentives.
Staking mechanisms are also being developed to align incentives across data publishers, consumers, and validators. This move toward decentralization strengthens Pyth’s long-term sustainability and resilience against central points of failure.
Additionally, Pyth aims to onboard more financial institutions and expand beyond crypto into traditional asset classes such as equities and commodities. This expansion positions Pythnet as a bridge between traditional finance (TradFi) and decentralized finance (DeFi), enabling innovative hybrid financial products.
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Frequently Asked Questions (FAQ)
What is Pythnet?
Pythnet is a dedicated AppChain built on the Solana codebase that enables the Pyth Network to scale its price feed operations to tens of thousands of updates per second while supporting on-demand (pull) oracle functionality.
How does Pythnet differ from the current Pyth Oracle?
While the original Pyth Oracle operates as a program on Solana, Pythnet is a standalone blockchain optimized specifically for high-speed data aggregation and cross-chain dissemination via Wormhole. It introduces pull-based pricing and significantly higher throughput.
What are pull oracles (on-demand pricing)?
Pull oracles allow smart contracts to request price updates only when needed, rather than receiving continuous updates. This reduces costs and ensures freshness at execution time.
Which blockchains can access Pythnet data?
Through Wormhole integration, Pythnet delivers price feeds to multiple blockchains including Solana, Ethereum, Arbitrum, Avalanche, and others where Wormhole is supported.
What is the role of the PYTH token?
The PYTH token will serve as the governance token for the network, enabling holders to vote on protocol changes, staking parameters, and ecosystem development initiatives. It will be issued as an SPL token on Solana.
Can developers start using Pythnet today?
Yes. Developers can begin integrating with Pythnet Price Feeds through detailed documentation available at docs.pyth.network, which includes guides and real-world use cases.
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Final Thoughts
The launch of Pythnet marks a pivotal moment in the evolution of decentralized oracles. By combining Solana’s high-performance infrastructure with innovative pull-based pricing and cross-chain delivery via Wormhole, Pyth sets a new standard for speed, reliability, and scalability in financial data infrastructure.
As DeFi continues to mature and expand into new asset classes, access to accurate, timely, and tamper-resistant data becomes increasingly vital. With its growing network of first-party providers and upcoming governance model, Pythnet is well-positioned to become a foundational layer for next-generation financial applications across Web3.
Core Keywords: Pyth Network, Pythnet, Solana, decentralized oracle, price feeds, Wormhole, on-demand oracle, DeFi