Crypto market maker Jump Trading details launch of DeFi data project built on Solana

Crypto market maker Jump Trading details launch of DeFi data project built on Solana

The crypto market-making agency Jump Trading is engaged on a brand new initiative that goals to decentralize real-time buying and selling information.

Leap’s involvement within the Pyth Community was mentioned throughout a brand new episode of its “The Leap Off Level” podcast, printed on April 7. Through the episode, president and chief funding officer Dave Olsen detailed the mission, which was incubated by Leap. 

“We’re very concerned within the improvement of a brand new functionality that, not less than as of this taping, has not been introduced but. Which I will do now. We’re collaborating on a world oracle mission known as Pyth” Olsen stated in the course of the April 7 episode.

Pyth Community’s targets embrace “[a]llowing the uncooked materials of very excessive efficiency, very exact market information to be injected into good contracts that have been written utilizing these protocols.”

Olsen specified that Pyth shall be constructed on Solana blockchain. Olsen’s commentary got here within the context of reward for DeFi usually and, specifically, Undertaking Serum, a permissionless Solana-based decentralized change launched by FTX. A blog post outlining the Pyth Community additional specified that the mission:

“[R]equires legally licensed entry to distinctive information units, sub-second replace speeds, refined outputs and aggregation strategies, and an intensive incentive system to chase away spurious or malicious information breaches.”

The roster of companies engaged on Pyth stays unclear, as does the quantity of funding that Leap or others have dedicated to the mission. A consultant for Leap declined to specify whether or not Pyth had acquired any funding as of the announcement. 

Leap is a major player in cryptocurrency buying and selling and, through affiliate Jump Capital, a number one investor in crypto tasks. Regardless of this, Leap retains a comparatively low profile, although executives from Leap have previously discussed its mission incubation methods.

In a separate improvement, Reuters reported Wednesday that Leap Buying and selling had invested an undisclosed quantity in Chiliz, a blockchain startup that makes so-called “fan tokens” tied to sports activities groups. 

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