GMX-Solana Adopts Chainlink Data Streams as Official Data Oracle Solution on Solana
The GMX-Solana project is a soon-to-launch expansion of GMX to the Solana blockchain
GMX is excited to announce that GMX-Solana — our community-driven sister project bringing the GMX V2 protocol to Solana — has adopted Chainlink Data Streams as its official data oracle solution. As a part of this collaboration, the impending GMX-Solana perpetual DEX will integrate Chainlink Data Streams on Solana to help secure execution prices, funding rate calculations, liquidations, and other features that require secure, low-latency market data.
GMX-Solana is an extension of GMX on the Solana blockchain, dedicated to providing traders with an efficient, transparent, and decentralised platform for perpetual trading. GMX-Solana will support hundreds of assets and an innovative Trade-to-Mint economic model, enabling high-efficiency, self-custody trading without intermediaries.
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Chainlink Data Streams & GMX-Solana
Chainlink Data Streams supplies premium high-frequency market data using proven Chainlink infrastructure. Data Streams delivers market-leading functionality — with advanced features such as liquidity-weighted bid-ask spreads and sub-second execution speed — while balancing this with transparency and decentralisation.
“GMX-Solana is founded on transparency and decentralisation, principles that align closely with Chainlink’s approach to enabling DeFi at scale,” explains Q, co-founder of GMX-Solana. “Integrating Chainlink Data Streams into GMX-Solana will help ensure that our derivatives markets are supported by a decentralised, battle-tested infrastructure that supports a fair trading experience while fully leveraging the performance benefits of Solana.”
As part of the partnership, 1.2% of total protocol fees generated by GMX-Solana will be paid to Chainlink service providers in exchange for using Chainlink Data Streams. Establishing a sustainable economic framework is important to GMX, and helps ensure that Chainlink Data Streams can provide GMX-Solana with an independent, verifiable, and low-latency source of financial market data long into the future.
“We’re excited to keep enabling high-performance DeFi markets with the GMX community,” stated Johann Eid, Chief Business Officer at Chainlink Labs. “By bringing the sub-second price latency and battle-tested infrastructure of Chainlink Data Streams to the Solana network, GMX-Solana is building highly performant DeFi derivatives markets without having to compromise on security and decentralisation.”
Bringing High-Performance Perpetuals to Solana With GMX-Solana and Chainlink
Since the initial launch of GMX V2 powered by Chainlink Data Streams, the low-latency oracle solution has enabled $64.84 billion in transaction volume for GMX. The success of this collaboration between the GMX and Chainlink communities made choosing Chainlink Data Streams as the oracle solution powering GMX-Solana an obvious choice.
GMX-Solana is a community deployment of GMX V2 on Solana, licensed by the GMX DAO. GMX-Solana strives to achieve the trinity of decentralised leverage trading:
Barrier-free creation of markets and pools, enabling the trading of a wide range of assets on GMX-Solana. By leveraging Chainlink Data Streams on Solana, we can help mitigate front-running risks. Additionally, deploying additional markets will be straightforward for GMX-Solana, and users will benefit from low trading fees and a high-speed trading experience.
Barrier-free utilisation of advanced trading strategies. We will endeavour to equip users with access to various mainstream trading strategies and tools available in the market, while actively fostering a vibrant strategy development community. On GMX-Solana, any trader can seamlessly transition into a professional by employing advanced trading strategies without requiring programming knowledge or incurring additional fees.
Barrier-free entry into market-making. A key advantage of GMX V2 is a seamless liquidity provision process. We firmly believe that the democratisation of liquidity provision, as opposed to concentration among a select few institutions, is a crucial cornerstone in our journey towards true decentralisation. Instead of relying on closed-source market-making strategies provided by GMX-Solana itself or specific partner institutions, we aim to avoid single points of failure while ensuring that GMX-Solana does not manage any user’s assets, favour any user’s interests, or has any potential conflicts of interest, thereby avoiding all possibilities of malicious behaviour.
To help secure execution prices, funding rate calculations, and liquidations on GMX-Solana, we need on-demand access to high-frequency market data backed by decentralised and transparent infrastructure.
Some of the critical benefits of Chainlink Data Streams include:
Sub-second price latency: Chainlink Data Streams provide sub-second data delivery using battle-tested oracle infrastructure, enabling a highly performant user experience without compromising on Web3 values such as decentralisation and transparency.
High data accuracy: Data Streams provides reliable low-latency pricing data with high accuracy to benchmark exchanges, bolstering user confidence and protocol performance.
Liquidity-weighted bid-ask spreads: With Data Streams, GMX-Solana receives access to a growing array of data. Data Streams provide users with liquidity-weighted bid-ask spreads that enable protocols to update their risk management parameters, resulting in a more accurate reflection of market liquidity.
Time-tested infrastructure and high uptime: Built on the reliable Chainlink platform with proven security and high-quality data that’s been operating in production for years, Data Streams can deliver strong availability and uptime guarantees.
About Chainlink
Chainlink is the universal platform for pioneering the future of global markets onchain. Chainlink has enabled over $16 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors.
Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link.
About GMX-Solana
GMX-Solana is an extension of GMX on the Solana blockchain, dedicated to providing traders with an efficient, transparent, and decentralised platform for perpetual trading. GMX-Solana supports hundreds of assets and offers flexible leverage up to 200x, enabling high-efficiency, self-custody trading without intermediaries.
GMX-Solana employs an innovative Trade-to-Mint economic model to minimise trading costs while maximising incentives. Through this model, traders directly contribute to value creation and distribution, ensuring greater transparency and fairness. Committed to full decentralisation, GMX-Solana is entirely community-driven and self-funded, with no venture capital involvement, no pre-sale, and no pre-mint. Its fair-launch mechanism guarantees open participation under transparent and verifiable conditions.
GMX-Solana introduces the Global Liquidity Vault (GLV), building on the GMX Liquidity Vaults introduced recently. GLV ensures global liquidity across all markets, enhancing trading efficiency. It serves as a one-stop solution for liquidity providers and is the next generation of GLP. Utilising GLV allows GMX-Solana to meet diverse trader needs while maintaining optimal liquidity.
Building on GMX’s proven success — with $390 million in fees distributed, $230 billion in trading volume, and over 660,000 traders — GMX-Solana aims to elevate decentralised trading on Solana by offering a more powerful and user-centric ecosystem.
Connect with the GMX community:
Website: https://gmx.io/
Twitter: https://twitter.com/GMX_IO
Telegram: https://t.me/GMX_IO
Announcements: https://t.me/GMX_Announcements
Discord: https://discord.gg/H5PeQru3Aa
Github: https://github.com/gmx-io
Documentation: https://docs.gmx.io/
Disclaimer
This announcement is for informational purposes only and does not constitute legal, financial, or investment advice. GMX or any other parties make no warranties or representations regarding the accuracy, completeness, or suitability of the information presented and will not be liable for any losses, damages, or adverse consequences that may arise in relation to this announcement.
It is strongly advised to undertake your own due diligence and seek advice from relevant professionals before making decisions based on this announcement.
Solana deserves a GMX.