Chainlink data streams debuts on Avalanche with GMX V2

Source: Crypto Briefing

Chainlink, Avalanche, and GMX have announced the launch of Chainlink Data Streams on the Avalanche blockchain. This new integration, featuring the decentralized GMX as a launch partner, aims to enhance decentralized finance (DeFi) applications by providing low-latency, high-throughput market data.

Chainlink Data Streams will support GMX’s decentralized perpetual exchange, promising a user experience on par with centralized exchanges due to its fast on-chain execution speeds and robust security.

“We’re pleased to help power the next generation of high-throughput DeFi products on Avalanche through Chainlink Data Streams,” said Johann Eid, Chief Business Officer at Chainlink Labs. “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.

The integration allows decentralized applications (dApps) on Avalanche to access real-time market data continuously, enhancing their functionality and user experience. This development marks a significant step in expanding the capabilities of DeFi platforms on Avalanche, aiming to attract more developers and users to the ecosystem.

“We’re excited to see Chainlink’s low-latency oracle solution on Avalanche,” said Lydia Chiu, Senior Vice President of Business Development at Ava Labs. “Chainlink Data Streams’ low-latency market data and automated execution enable Avalanche ecosystem projects to provide users with industry-leading performance facilitated by decentralized, credibly neutral Chainlink infrastructure.”

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Author: Gino Matos