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Chainlink Data Streams launches on Avalanche mainnet with GMX V2

chainlink-data-streams-launches-on-avalanche-mainnet-with-gmx-v2
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Chainlink Data Streams launches on Avalanche mainnet with GMX V2

Chainlink’s Data Streams are officially live on Avalanche, according to an announcement just in from Chainlink, Avalanche and GMX, an on-chain perpetual and spot crypto exchange

The major integration has GMX as the launch partner that 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 the GMX V2 integration, the platforms said.

Chainlink Data Streams 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 Streams for high-frequency market data and automated transaction settlement. Specifically, the exchange taps into the Chainlink Data Streams settlement of trades and to trigger stops and liquidations.

The integration will see it utilize these features to bolster the Avalanche DeFi ecosystem.

“GMX’s Data Streams integration on Avalanche mainnet is all about expanding the success of our GMX V2 launch,” Coinflip, a core contributor at GMX, said. “Chainlink Data Streams has meaningfully contributed to the decentralized exchange’s speed and resiliency, and we’re excited to bring those same benefits to all the traders and liquidity providers in the Avalanche community,” Coinflip added.

Through the high-frequency market data and decentralized infrastructure mechanism of Chainlink, Data Streams allow developers to deliver high-throughput DeFi products whose user experience is comparable to that of centralized exchanges (CEXs). 

However, it also provides for massive on-chain execution speed and security. Notably, Data Streams are backed by Chainlink’s decentralized and robust infrastructure.

“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 onchain finance,” said Johann Eid, chief business officer at Chainlink Labs.

Other DeFi protocols that have followed GMX in integrating Data Streams include PancakeSwap, ApolloX, Marquee, DRX Exchange, and YFX.