Today we’re pulling back the curtain to announce our role as the latest core contributor to @PythNetwork Our team at Douro Labs is building oracle tooling, products and Web3 infrastructure that will expand the Pyth Network's suite of decentralized data services 🧵

Yesterday, Douro Labs published a letter to the SEC's revamped Crypto Task Force requesting that the SEC acknowledge that decentralized oracle networks like @PythNetwork are acceptable financial benchmark tools to be relied upon by SEC regulated entities. sec.gov/files/ctf-input-ferr…

We will initially work to implement the Perseus Upgrade for the Pyth oracle protocol and bring the network into a permissionless mainnet Stay tuned for more You can follow us and @PythNetwork for more info

This letter serves as the first step in a series of submissions and conversations we hope to have with regulators and policymakers in D.C. to decentralize data and enhance access to real-time, once-exclusive market data for all blockchain participants.

Douro Labs is focused on contributing alongside the Pyth Network data provider community and building developer-focused oracle tooling and protocol infrastructure

Douro Labs was formed by long-time Pyth Network contributors: Mike Cahill (@mdomcahill), Jayant Krishnamurthy (@jayantkrish) and Ciaran Cronin (@Rouz_CC) in July 2023

The Douro Labs team is comprised of close to 20 passionate individuals with backgrounds from Goldman Sachs, Jump Crypto, BNP Paribas, Amazon Web Services, and Chorus One

@PythNetwork is the largest first-party oracle for financial data Oracles are programmatic data feeds that bring off-chain data on-chain for smart contracts to use. They’re an essential component of #DeFi

The Pyth oracle provides low-latency, high-fidelity, and tamper-resistant price data feeds directly to over 30 blockchains through a vast network of first-party data providers