Pyth Network (PYTH) is an advanced oracle network specialised in collecting precise price and market data from professional and trusted data providers and delivering this information to smart contracts. This function is particularly important for various applications in the field of decentralised finance (DeFi), such as lending platforms or perpetuals, as they require a reliable and up-to-date data basis to operate correctly and securely. The data is provided via the specially developed Pythnet, which serves as the infrastructure to efficiently process and distribute the collected information.
Another significant advantage of Pyth Network is its ability to make the provided data available cross-chain. This means that the price and market data can not only be used on a single blockchain but are accessible across different blockchain networks, significantly increasing interoperability and flexibility for developers and users. Furthermore, the native token PYTH, aside from its use within the BISON app, is primarily used for governance purposes.
Token holders can actively participate in decision-making within the network by staking PYTH tokens. Staking allows participants to obtain voting rights while also generating incentives in the form of rewards. This fosters an engaged community that contributes to the security and further development of the network, thereby supporting the long-term stability and reliability of Pyth Network.
Trading: Buying, Selling & Savings Plan
Trading: You can buy and sell PYTH at the current price. Additionally, limit and stop orders are available to you.
Savings plan: Yes, this coin is available for setting up an automatic crypto savings plan.
Transactions: Deposit and Withdrawal
Deposit: No
Withdrawal: Yes
Please use only the wallet addresses currently displayed at BISON. You can find these under “Account” -> "Withdraw" -> "Withdraw cryptocurrencies". Here you can select the desired cryptocurrency and display the respective wallet address for your withdrawal.
Important details: All important information about the supported network, the correct address format, and the respective minimum amounts for PYTH can be found in our central overview: Which address formats are supported by BISON for each cryptocurrency?