Chainlink Data Streams launches on Avalanche mainnet with GMX V2

Chainlink data streams are officially available on Avalanche, according to a just-made announcement from Chainlink, Avalanche, and GMX, a permanent, on-chain cryptocurrency exchange.

The major integration makes GMX a launch partner that will help boost 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 GMX V2 integration, platforms He said.

Chainlink Data Streams to Boost Avalanche DeFi

GMX is the leading perpetual decentralized exchange (DEX) by total value locked (TVL) on Arbitrum and Avalanche. GMX V2 leverages Chainlink data streams for high-frequency market data and automated trade settlement. Specifically, the exchange leverages Chainlink data streams to settle trades and incentivize stops and liquidations.

The integration will see these features used to enhance the Avalanche DeFi ecosystem.

“Integrating GMX data streams onto the Avalanche mainnet is all about extending the success of our GMX V2 launch,” said Coinflip, one of the core contributors to GMX. “Chainlink Data Streams have meaningfully contributed to the speed and flexibility of decentralized exchanges, and we are excited to offer these same benefits to all traders and liquidity providers in the Avalanche community,” Coinflip added.

Through high-frequency market data and Chainlink’s decentralized infrastructure mechanism, Data Streams allows developers to offer high-throughput DeFi products with a user experience similar to that of centralized exchanges (CEXs).

However, it also provides tremendous on-chain execution speed and security. Notably, data flows are supported by Chainlink’s robust and decentralized infrastructure.

“By providing unparalleled speed and flexibility, Data Streams enables DeFi protocols to provide ultra-fast, high-throughput DeFi products while maintaining the high security guarantees of on-chain finance,” said Johan 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.

AvalancheChainlinkDataGMXlaunchesMainnetstreams
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