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AAX Exchange Partners with Pyth Network for Novel Data Management System

Companies
Thu, 02/10/2022 - 16:12
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Vladislav Sopov
Leading cryptocurrency exchange ecosystem AAX advances its on-chain data tracking module with new partnership
AAX Exchange Partners with Pyth Network for Novel Data Management System
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With the new integration, traders will not miss the opportunities unlocked by increased market volatility. The data network of AAX, therefore, becomes one of the most advanced on the crypto scene.

Better data for better trading: AAX Exchange integrates Pyth Network

According to the official announcement shared by the team of AAX Exchange, its technology stack now supports Pyth Network, a leading infrastructure solution for data aggregation and indexing.

AAX exchange partners Pyth Network
Image by AAX

With Pyth Network integrated, AAX offsets the gap between centralized trading architecture and blockchains. Pyth indexes data for events that take place on- and off-chain on crypto markets, as well as price data from equities and ForEx markets.

At the same time, integration of Pyth Network is of crucial importance for cryptocurrency exchanges as cryptos are the most volatile group of assets.

Ben Caselin, head of research and strategy at AAX, emphasized that Pyth Network integration will significantly advance data management on AAX and allow for prices to be broadcast more accurately:

The rise of crypto encompasses more than the emergence of a new asset class alone. More importantly, it's about imagining a new financial system in terms of culture and infrastructure, and then building it. Our integration with the Pyth network forms part of an ongoing effort to build more resilience and integrity into the crypto markets, better connect and synchronise top-tier trading firms in the industry, and ultimately optimize user experience.

Changing the narrative in data streams for CEXes and DEXes

As covered by U.Today previously, on Jan. 13, 2022, AAX Exchange partnered with The TIE, a top-tier analytical platform.

Related
Crypto Exchange AAX Partners with The TIE Analytics Platform: Details

Pyth Network is an oracle solution designed to supercharge trading and analytical systems with reliable and zero-latency on-chain and off-chain data.

Pyth Network aggregates data from multiple sources with its one-of-a-kind patented solution.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)