In the rapidly evolving wave of the blockchain and crypto assets industry, Pyth Network has become a pillar in the world of Decentralized Finance (DeFi) with its robust data infrastructure. Today, this decentralized network is opening a new chapter, expanding its service scope from the crypto market to the TradFi data sector, targeting a massive market of up to $50 billion.

Pyth Network has successfully established itself as the 'source of real data' in the Blockchain world during the first phase of its development. Through strategic partnerships with top global market makers and exchanges, Pyth has captured over 60% of the market share in the Decentralized Finance derivatives market, which is a remarkable achievement.

Specifically, the achievements of Pyth Network include: a total transaction volume exceeding $1.6 trillion, adoption by over 600 projects, and its widespread distributed coverage has earned it the reputation among industry insiders as the 'Bloomberg prototype of the blockchain world.' At this stage, Pyth has successfully made on-chain data transparent, real-time, and authoritative.

However, the ambitions of Pyth Network do not stop here. As the project enters its second phase, Pyth is setting its sights on the broader 'off-chain' market—the core area of traditional finance. This $50 billion market data ecosystem is the main target for Pyth's next stage.

The latest proposal from Pyth DAO reveals the transformative phase that the project is about to enter. In this new stage, how Pyth Network will leverage its experience and technological advantages accumulated in the Decentralized Finance space to challenge traditional financial data giants like Bloomberg and Refinitiv will undoubtedly become the focus of the entire industry.

With the continuous innovation and expansion of the Pyth Network, we may be witnessing a historic moment of how a decentralized network is reshaping the global financial data ecosystem. This is not just a new chapter in the development of the Pyth Network, but possibly a significant transformation for the entire financial data industry.