According to Foresight News, the non-profit organization Pyth Data Association, focused on the development of the oracle project Pyth Network, has completed a funding round. Participants in the round included Castle Island Ventures, Multicoin Capital, Wintermute Ventures, Borderless Capital, CMT Digital, Bodhi Ventures, Distributed Global, and Delphi Digital. Michael Cahill, CEO of Pyth developer Duoro Labs and director of Pyth Data Association, stated that all new partners have received PYTH token allocations.
The funding round will expand the Pyth community to new stakeholders and individuals driving decentralized capital markets. The new stakeholders will help the network grow by increasing access to new capital sources, participating in governance and protocol improvements, and providing strategic guidance.