GMX V2 has integrated Chainlink Data Streams to access high-frequency market data and automate transaction settlement. This integration allows the exchange to utilize Data Streams for trade settlement and to trigger stops and liquidations. The goal is to strengthen the Avalanche DeFi ecosystem. According to Coinflip, a core contributor at GMX, the Data Streams integration on Avalanche mainnet aims to build on the success of GMX V2 launch.
The integration of Chainlink Data Streams has enhanced the decentralized exchange’s speed and resilience, and the team is eager to extend these benefits to traders and liquidity providers within the Avalanche community. By leveraging the high-frequency market data and decentralized infrastructure mechanism of Chainlink, Data Streams enable developers to create high-throughput DeFi products with a user experience comparable to centralized exchanges (CEXs). This also ensures on-chain execution speed and security, supported by Chainlink’s decentralized and robust infrastructure. Johann Eid, chief business officer at Chainlink Labs, highlighted that Data Streams offer unmatched speed and resiliency, enabling DeFi protocols to deliver ultra-fast, high-throughput products while upholding the high-security guarantees of on-chain finance.
Several DeFi protocols, including PancakeSwap, ApolloX, Marquee, DRX Exchange, and YFX, have also integrated Data Streams following GMX’s lead.