Pyth Network's annual recurring revenue reached $10.4 million in August, with $2.9 million in gross new ARR added that month, according to a report from Douro Labs, a core contributor to the oracle network.
The figure represents a 70% jump from July's $1.7 million in gross new ARR. Pyth Indices, which provides price feeds to financial venues, contributed $1.59 million in fixed ARR excluding variable revenue share, with $1.28 million of that amount added during August across 45 live products.
Pyth's data comes from more than 138 institutions that contribute first-party pricing information directly to the network, reducing reliance on intermediaries. The August report names OKX, Kraken, Binance, Coinbase and MarketVector among venues expanding their use of Pyth price feeds. Pyth's model charges participants based on the data they consume, generating both fixed subscription revenue and variable revenue shares tied to volume.
The network operates as a price oracle on Solana and other blockchains, competing with established providers like Chainlink. Unlike traditional oracles that aggregate public market data, Pyth aggregates direct submissions from institutional market participants, exchanges, trading firms, and data providers, before publishing the result on chain. This structure allows venues to validate prices against their own order books and reduces the lag between off-chain and on-chain pricing.
The $10.4 million ARR run rate is comparable to the early commercial phase of other blockchain infrastructure projects, though Pyth's reliance on institutional participation distinguishes it from fee-based models. Growth accelerated sharply in August after a period of slower adoption through mid-2026, driven in part by expanded integration at major exchanges.
Douro Labs released the figures through an official Pyth announcement, with independent verification by Crypto Economy. The report did not disclose total users or customer retention metrics, limiting visibility into the stability of the recurring base.
