DeFi
Chainlink Data Streams Launches on Avalanche Mainnet with GMX V2
Chainlink data feeds are officially live on avalancheAccording to a recent announcement by Chainlink, Avalanche and GMX, an on-chain perpetual and one-time crypto exchange
The major integration has GMX as a launch partner who will help power Avalanche’s decentralized finance (DeFi) market.
Avalanche’s dApps ecosystem will benefit from Chainlink Data Streams’ on-demand access to low-latency market data via GMX V2 integration, platforms said.
Chainlink Data Feed to Boost Avalanche DeFi
GMX is the leading decentralized perpetual exchange (DEX) platform by total value locked (TVL) on Arbitrum and Avalanche. GMX V2 leverages Chainlink data feeds for high-frequency market data and automated trade settlement. Specifically, the exchange leverages trade settlement by Chainlink data feeds and triggers stops and liquidations.
The integration will allow it to use these features to strengthen the Avalanche DeFi ecosystem.
“The integration of GMX Data Streams on the Avalanche mainnet aims to increase the success of our GMX V2 launch,” said Coinflip, one of the main contributors to GMX. “Chainlink Data Streams has contributed significantly to the speed and resilience of the decentralized exchange, and we are excited to bring these same benefits to all traders and liquidity providers in the Avalanche community,” Coinflip added.
Thanks to Chainlink’s high-frequency market data and decentralized infrastructure mechanism, data feeds enable developers to deliver high-throughput DeFi products with a user experience comparable to centralized exchanges (CEX).
However, it also offers massive on-chain execution speed and security. Notably, data feeds are supported by Chainlink’s decentralized and robust infrastructure.
“By providing unparalleled speed and resilience, data feeds enable DeFi protocols to deliver ultra-fast, high-throughput DeFi products while maintaining the high security guarantees of on-chain finance,” said Johann Eid, Chief Commercial Officer of Chainlink Labs.
Other DeFi protocols that followed GMX in integrating data feeds include PancakeSwap, ApolloX, Marquee, DRX Exchange, and YFX.