Decentralised oracle network Pyth Network has launched Pyth Indices, which provides 24-hour price information for U.S. stocks, gold, silver, WTI crude and Brent crude.

According to a recent report by The Block, Pyth Indices aggregates data from liquid onchain and offchain exchanges to continuously provide prices for assets that have traditionally traded only during market hours. Pyth Network said the launch is the first case of providing large-scale, 24-hour continuous price calculation for stocks and commodities.

Pyth Network said it provides a foundation for perpetual futures exchanges, prediction markets and tokenised assets to trade around the clock. Coinbase, Kraken and dYdX have already integrated Pyth Indices, The Block reported.

Mike Cahill (마이크 카힐), CEO of Douro Labs and a contributor to the Pyth Network, said, "Traditional data feeds were designed for a world where trading ends when markets close." He said, "Pyth Indices is an inflection point for 24-hour market access." Pyth Network also partnered with MarketVector to develop thematic stock index futures that track U.S. defence, China, and tech and AI sectors. It plans to expand into thematic products, multi-asset baskets and customised solutions.