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Working at Douro Labs
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About
Douro Labs launched in August 2023 and immediately joined the Pyth Network as a core contributor. Its stated purpose is to "decentralize data services and enhance access to real-time, once-exclusive market data for the finance industry" — the market data that trading firms, exchanges and banks have historically sold to each other, published instead onto public chains through Pyth's oracle. The company was founded by Michael Cahill with former members of Jump Trading and Jump Crypto, and its launch announcement described a team drawn from Goldman Sachs, BNP Paribas, Amazon Web Services, Jump Crypto and Chorus One. It is headquartered in Porto, on Portugal's Douro river, which is where the name comes from. Genia Mikhalchenko, who co-founded the Toronto OTC crypto desk SigOne Capital, leads business development there.
Backers
Not disclosed. The launch announcement names no investors and the company publishes no funding information.
Quick answers
What is Douro Labs?
A Porto-based software company that builds oracle tooling and web3 data infrastructure, and is one of the initial contributors to the Pyth Network. It does not sell a product of its own — its work ships through Pyth.
What is the Pyth Network?
A decentralised oracle that publishes real-time market prices — the kind of data that has historically been sold privately between trading firms and exchanges — onto public blockchains for anyone to read.
Who founded Douro Labs?
Michael Cahill, with former members of Jump Trading and Jump Crypto including Ciarán Cronin and Jayant Krishnamurthy. It launched in August 2023.