Pyth Network's off-chain price delivery web service that provides real-time price updates for the pull oracle model. Hermes aggregates publisher price submissions and serves them via REST and WebSocket APIs. When a Solana transaction needs a price, it fetches the latest update from Hermes and includes it as an instruction in the transaction, where the Pyth on-chain program verifies its authenticity.
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Pyth Network's off-chain price delivery web service that provides real-time price updates for the pull oracle model. Hermes aggregates publisher price submissions and serves them via REST and WebSocket APIs. When a Solana transaction needs a price, it fetches the latest update from Hermes and includes it as an instruction in the transaction, where the Pyth on-chain program verifies its authenticity.
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Think of it as a market mechanic used to price, route, or move capital through liquidity apps.
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AMMs, routing, liquidity, lending, and trading infrastructure.
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Pyth Hermes (pyth-hermes) Category: DeFi Definition: Pyth Network's off-chain price delivery web service that provides real-time price updates for the pull oracle model. Hermes aggregates publisher price submissions and serves them via REST and WebSocket APIs. When a Solana transaction needs a price, it fetches the latest update from Hermes and includes it as an instruction in the transaction, where the Pyth on-chain program verifies its authenticity. Related: Pyth Network, Pull Oracle Model, Oracle
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A high-frequency oracle network publishing price feeds for crypto, equities, commodities, and FX. Pyth aggregates data from 90+ first-party publishers (market makers, exchanges) and updates prices every 400ms on Solana. Each price feed includes a price, confidence interval, and exponential moving average. Pyth uses a pull model with Hermes for cross-chain delivery.
An oracle design where price updates are fetched on-demand by the consuming protocol rather than pushed to on-chain accounts at fixed intervals. Pyth pioneered the pull model on Solana: prices are published to an off-chain service (Hermes) and only written on-chain when a transaction needs them. This reduces costs since unused price updates are never posted, but requires transactions to include price update instructions.
A service that provides external data (prices, randomness) to on-chain programs. DeFi protocols rely on oracles for accurate price feeds to calculate collateral ratios, liquidation thresholds, and swap rates. Solana's primary oracles are Pyth (high-frequency price feeds) and Switchboard (general-purpose data feeds and VRF).
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A high-frequency oracle network publishing price feeds for crypto, equities, commodities, and FX. Pyth aggregates data from 90+ first-party publishers (market makers, exchanges) and updates prices every 400ms on Solana. Each price feed includes a price, confidence interval, and exponential moving average. Pyth uses a pull model with Hermes for cross-chain delivery.
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A high-frequency oracle network publishing price feeds for crypto, equities, commodities, and FX. Pyth aggregates data from 90+ first-party publishers (market makers, exchanges) and updates prices every 400ms on Solana. Each price feed includes a price, confidence interval, and exponential moving average. Pyth uses a pull model with Hermes for cross-chain delivery.
An oracle design where price updates are fetched on-demand by the consuming protocol rather than pushed to on-chain accounts at fixed intervals. Pyth pioneered the pull model on Solana: prices are published to an off-chain service (Hermes) and only written on-chain when a transaction needs them. This reduces costs since unused price updates are never posted, but requires transactions to include price update instructions.
A service that provides external data (prices, randomness) to on-chain programs. DeFi protocols rely on oracles for accurate price feeds to calculate collateral ratios, liquidation thresholds, and swap rates. Solana's primary oracles are Pyth (high-frequency price feeds) and Switchboard (general-purpose data feeds and VRF).
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A protocol that enables token swaps using algorithmic pricing against pooled liquidity instead of matching individual buyers and sellers. AMMs use mathematical formulas (typically constant product x*y=k) to determine prices based on the ratio of tokens in a liquidity pool. On Solana, major AMMs include Raydium, Orca, and Meteora.
An AMM design where liquidity providers concentrate their capital within specific price ranges instead of across the full 0-to-infinity range. CLMMs dramatically improve capital efficiency—LPs earn more fees per dollar deposited within their active range. If the price moves outside the range, the position becomes inactive. Orca Whirlpools and Raydium CLMM are leading implementations on Solana.
A smart-contract-held reserve of two or more tokens that enables trading via an AMM. Users deposit token pairs in specified ratios to become liquidity providers and earn trading fees. Pools are identified by their token pair and fee tier. Pool depth (total value locked) determines price impact for trades.
A token issued to liquidity providers representing their proportional share of a pool's reserves and accrued fees. LP tokens can be burned to withdraw the underlying assets. The value of LP tokens changes as the pool's token ratios shift and fees accumulate. LP tokens are often stakeable in yield farming programs for additional rewards.