In this episode Jason and Santi are joined by Mike Cahill, CEO of Douro Labs and contributor at Pyth Network, an oracle that publishes financial market data to multiple blockchains. The conversation delves into how Pyth Network addresses failings in both the current Oracle system in crypto and the traditional capital markets. Cahill discusses how the network has evolved, its present accomplishments, the benefits of their governance token, and their approach to rewards. To close out Mike outlines potential future developments and the network's greater aim of inviting widespread participation in its open-source projects.

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Join us at DAS (Digital Asset Summit) in London this March! DAS is the #1 institutional conference in crypto, hosted by Blockworks.

Use the link below to learn more, and use EMPIRE20 to get 20% off your ticket! Sign up now because the price goes up every month. See you there!

Learn more + get your ticket here: https://blockworks.co/event/digital-asset-summit-2024-london/home

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Timestamps:

00:00 The Market Data Monopoly

09:13 The Oracle Problem

21:19 Origins of Pyth

30:40 The Business Model & Revenue

40:21 DAS 2024

41:36 Toku Ad

41:56 The Role of PYTH Token

55:21 Reward Mechanism for Pyth Network

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Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.