Pyth Network Announces Oracle Integrity Staking (OIS) for Enhanced Data Reliability and DeFi Security

Foresight News reports that Pyth Network has announced the launch of Oracle Integrity Staking (OIS), an upgrade to the Pyth oracle network designed to enhance data source reliability and strengthen the security of the DeFi ecosystem.

OIS incentivizes data publishers and PYTH token holders to participate in staking through on-chain rewards and penalties. This mechanism ensures the security of the oracle network. Data publishers are rewarded for providing high-quality data, while errors result in penalties. PYTH holders can stake and delegate to publishers for potential increased earnings.

The Pyth DAO will oversee key updates and parameter adjustments for OIS.