diff --git a/pages/home/_meta.json b/pages/home/_meta.json index 38eebf8e..1c5e58d5 100644 --- a/pages/home/_meta.json +++ b/pages/home/_meta.json @@ -28,5 +28,6 @@ "pyth-token": "PYTH Token", "metrics": "Pyth Metrics", + "whitepaper": "Whitepaper", "security": "Security" } diff --git a/pages/price-feeds/whitepaper.mdx b/pages/home/whitepaper.mdx similarity index 81% rename from pages/price-feeds/whitepaper.mdx rename to pages/home/whitepaper.mdx index a4d5264d..46f47ef2 100644 --- a/pages/price-feeds/whitepaper.mdx +++ b/pages/home/whitepaper.mdx @@ -1,15 +1,8 @@ ---- -description: >- - For more information, visit the Pyth whitepaper - https://pyth.network/whitepaper ---- - # Whitepaper Growth in DeFi requires high-fidelity, time-sensitive, real-world data, direct from the source and made available on any L1 blockchain. Financial market data, however, is often accessible to only a limited set of institutions and users. Traditional markets typically maintain strict control over and access to both live and historical price feeds. Consequently, only a selected group of users has access to the most timely, accurate, and valuable information. The Pyth network is a next-generation oracle solution that aims to bring this valuable financial market data to the general public. The network does so by incentivizing market participants — trading firms, market makers, and exchanges — to share directly on-chain the price data collected as part of their existing operations. Pyth's data providers include some of the largest **traders**, **exchanges**, and **financial services** players who create unique high quality market data. This includes real world market data in **equities**, **fx, crypto, and metals with ambitions to scale across asset classes**. Data publishers include [GTS](https://pythnetwork.medium.com/new-pyth-data-provider-gts-555c4d0e362b), Jane Street, Hudson River Trading, [LMAX](https://pythnetwork.medium.com/new-pyth-data-provider-lmax-dd05264d1a16), [Virtu](https://pythnetwork.medium.com/new-pyth-data-provider-virtu-financial-ed09143f44d5), [BSX](https://pythnetwork.medium.com/new-pyth-data-provider-the-bermuda-stock-exchange-ccf3c04bd430), [CTC](https://pythnetwork.medium.com/new-pyth-data-provider-chicago-trading-company-64a457340443), and [many more](https://pyth.network/publishers/). -The network then aggregates this first-party price data (still on-chain) and makes it available for use by either on- or off-chain applications. - -The goal of the design and mechanics around the PYTH token aim to make the Pyth network self-sustaining and decentralized. +The [Pyth Network Whitepaper](https://pyth.network/whitepaper) describes the mechanisms powering the protocol. +The whitepaper was last updated in September 2023. diff --git a/pages/price-feeds/_meta.json b/pages/price-feeds/_meta.json index 281abe4d..4a30fe81 100644 --- a/pages/price-feeds/_meta.json +++ b/pages/price-feeds/_meta.json @@ -50,6 +50,5 @@ }, "pull-updates": "What is a Pull Oracle?", - "how-pyth-works": "How Pyth Works", - "whitepaper": "Whitepaper" + "how-pyth-works": "How Pyth Works" } diff --git a/pages/price-feeds/whitepaper/_meta.json b/pages/price-feeds/whitepaper/_meta.json deleted file mode 100644 index c24dc046..00000000 --- a/pages/price-feeds/whitepaper/_meta.json +++ /dev/null @@ -1,4 +0,0 @@ -{ - "network-participants": "Network Participants", - "network-interactions": "Network Interactions" -} diff --git a/pages/price-feeds/whitepaper/network-interactions.mdx b/pages/price-feeds/whitepaper/network-interactions.mdx deleted file mode 100644 index f3704ea7..00000000 --- a/pages/price-feeds/whitepaper/network-interactions.mdx +++ /dev/null @@ -1,13 +0,0 @@ ---- -description: >- - For more information, visit the Pyth whitepaper - https://pyth.network/whitepaper ---- - -# Network Interactions - -The Pyth protocol consists of 2 on-chain core mechanisms: - -- **Price aggregation** combines the reported prices and confidence intervals of individual publishers into a single price feed and confidence interval feed for a specific product (e.g. BTC/USD feed). This mechanism is designed to produce robust price feeds — feeds whose prices cannot be significantly influenced by small groups of publishers. -- **Governance** Governance is used to determining the size of update fees, determine reward distribution mechanism for publishers, approve other software updates to on-chain programs across blockchains, determine how products are listed on Pyth and their reference data (e.g.number of decimal places in the price, reference exchanges), determine how publishers will be permissioned to provide data for price - feeds. diff --git a/pages/price-feeds/whitepaper/network-participants.mdx b/pages/price-feeds/whitepaper/network-participants.mdx deleted file mode 100644 index 4dcd8b6b..00000000 --- a/pages/price-feeds/whitepaper/network-participants.mdx +++ /dev/null @@ -1,14 +0,0 @@ ---- -description: >- - For more information, visit the Pyth whitepaper - https://pyth.network/whitepaper ---- - -# Network Participants - -2 different types of stakeholders will interact within the network: - -- **Publishers** publish price feeds and earn fees in exchange. Publishers are typically market participants with access to accurate and timely price information. -- **Consumers** read price feeds and incorporate data into smart contracts or dApps. In the process, consumers pay fees to the protocol to access the data. Fees are charged at a fixed rate per Pyth price update on a target chain – e.g., 0.0001 ETH per update. Consumers are users of on-chain protocols that integrate Pyth for market data. These protocols may be running on various blockchains. - -Any actor may have multiple roles within the network.