Jump Crypto Specialists Leave to Start Douro Labs
Jump Trading’s digital asset unit, Jump Crypto, is scaling back as some specialists have left to start their own project called Douro Labs. Former employees, including Mike Cahill, Jayant Krishnamurthy, and Ciaran Cronin, are now working on developing the Pyth network. Pyth Network is a blockchain-based Oracle data service that provides price information for cryptocurrencies, equities, and FX. This data is crucial for DeFi applications that rely on up-to-date prices. Jump Crypto will continue to support Pyth, and Cahill believes that Pyth’s governance will eventually include token governance.
Key Points:
- Jump Crypto specialists have left to start Douro Labs
- Douro Labs is helping develop the Pyth network
- Pyth Network provides price information for cryptocurrencies, equities, and FX
- Jump Crypto will continue to support Pyth
- Pyth’s governance may eventually include token governance
Hot Take:
The departure of Jump Crypto specialists to start Douro Labs indicates potential challenges for Jump Trading’s digital asset unit. However, their continued support for Pyth Network suggests ongoing collaboration in the crypto space. The inclusion of token governance in Pyth’s governance model may enhance decentralization and provide opportunities for community involvement.
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