GMX V2 is now live with Chainlink Data Streams on Avalanche
Enhancing the on-chain trading experience with low-latency price oracles
GMX is excited to announce that the integration of Chainlink Data Streams into GMX V2 is now live on Avalanche mainnet! Integrating Chainlink Data Streams provides GMX users with sub-second pricing updates and speedier on-chain transaction execution. This enhances the trading experience significantly, and boosts data security on Avalanche by ultimately helping mitigate front-running risks.
Get started with GMX V2 on Avalanche by reading the docs:
>> How to provide liquidity on GMX V2
>> How to start trading on-chain on GMX V2
GMX V2: optimising on-chain trading
In October 2023, GMX announced that it was the launch partner for Chainlink Data Streams — a new low-latency oracle solution optimised for perpetual exchanges — on Arbitrum Mainnet. This provided a significant boost to the protocol’s speed and decentralisation, improving users' trading experience.
As a result, GMX has seen:
645,000 users trading on GMX
208 Billion USD in total trading volume
330 Million USD in fees generated
GMX is now bringing that same efficiency to its Avalanche deployment by integrating the Chainlink Data Streams solution there as well.
“The success of Chainlink Data Streams for GMX V2 on Arbitrum proved the necessity of a trust-minimized, low-latency oracle solution to scale the next generation of DeFi in a way that’s both fast and secure,” states Chainlink Labs. “We’re excited to support GMX on Avalanche with this new Data Streams integration, which will provide GMX’s Avalanche users with a next-gen trading experience.”
Chainlink Data Streams combines Chainlink’s industry-standard platform with a ‘commit-and-reveal’ mechanism for protecting against price manipulation and frontrunning risk. It does this without sacrificing the sub-second speeds necessary for a high-performance on-chain perpetual exchange like GMX.
The result: unmatched UX that combines Web2 speeds with Web3 security. Avalanche users, welcome to a new era of GMX trading.
“GMX’s Data Streams integration on Avalanche mainnet is a matter of expanding the success of our GMX V2 launch on Arbitrum,” comments CoinflipCanada, core contributor at GMX. “Chainlink Data Streams has meaningfully contributed to the protocol’s speed, efficiency, and resiliency, and we’re excited to bring those same benefits to GMX’s Avalanche community.”
To learn more about the benefits of Chainlink Data Streams for GMX, read the prior Arbitrum integration announcement.
About Chainlink
Chainlink is the industry-standard decentralized computing platform powering the verifiable web. Chainlink has enabled over $10 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.
Connect With GMX:
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.
Great news for us Avax users