Ideal launches analytics solution Impact API using Pyth Network market data
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Ideal launches analytics solution Impact API using Pyth Network market data 02 February 2022US Reporter: Jenna Lomax
Image: Anatoly Stojko
Ideal, the US-based technology provider firm, has launched a crypto analytics application programming interface (API), Impact API, using Pyth Network’s real-time on-chain market data.
The Pyth Network is designed to provide trusted and verifiable market data to decentralised finance (DeFi) applications.
Providing traders in crypto and traditional finance markets with performance insights, Impact API helps industry participants to better understand their execution costs and optimise their trading decisions.
By utilising the Pyth Network, Impact API gives crypto trading firms access to institutional-grade analytics as well as total transparency on their transaction costs and profitability.
Commenting on the new solution, John Crouch, CEO of Ideal, says: “The high-quality, real-time market data provided by the Pyth Network opens up a world of opportunity for crypto trading firms. We are thrilled to build upon Pyth’s innovation with our plug-and-play analytics. Our Impact API uses Pyth’s data to instantly calculate market impact costs and reveal what spreads traders are actually paying. In the coming months, we will expand the range of available market data sources and add new analytics functionality."
Michael Cahill, director at Pyth Data Association, comments: "With our network of the world's most prominent trading firms, several regulated exchanges, and foundational crypto companies, we are proud to make financial data freely accessible to all. Ideal shares our desire to bring greater transparency and insight to both crypto and traditional markets."
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Image: Anatoly Stojko 