GMX, a perpetual futures trading platform, will be a launch partner, leveraging Chainlink’s tech to enhance its decentralized futures exchange.
The oracle network Chainlink has launched its Data Streams product on the Avalanche network. GMX, a decentralized perpetual futures trading platform, is the first to utilize the real-world market data provided by Data Streams to power its protocol.
Unlike Chainlink’s traditional “push-based” oracles, which obtain and verify data on-chain at regular intervals or when specific conditions are met, Data Streams use a “pull-based” oracle model. This model retrieves off-chain market data on demand with low latency, making it particularly useful for platforms like GMX. Traders on such platforms need access to raw, high-frequency price data in real time and cannot afford to wait for on-chain verification each time data is required.
Although Chainlink’s Data Streams verify the data on-chain, this verification happens only when necessary, such as during the actual execution of a trade.
Following the deployment of Chainlink Data Streams on the Avalanche network, Johann Eid, Chief Business Officer at Chainlink Labs, said:
“By offering unmatched speed and resiliency, Data Streams enable DeFi protocols to provide ultra-fast, high-throughput DeFi products while maintaining the high-security guarantees of on-chain finance.”
This advancement signifies a step forward in enhancing the efficiency and reliability of decentralized finance (DeFi) platforms, ensuring that users have the best possible trading experience.
Summary Review: The integration of Chainlink’s Data Streams on the Avalanche network marks a significant advancement for decentralized finance platforms, particularly for perpetual futures trading. By providing real-time, high-frequency market data with minimal latency, Chainlink enables platforms like GMX to offer a superior trading experience while maintaining robust security measures. This development underscores the continuous evolution and improvement of DeFi infrastructure, paving the way for more efficient and resilient financial products.
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