Data Streams is a pull-based oracle solution provided by the industry-standard decentralized computing platform, Chainlink. By allowing protocols to consume data more cost-effectively and at lower latencies while reducing the risk of frontrunning and MEV, Data Streams expands DeFi’s reach by unlocking fast, user-friendly DeFi products and enabling highly performant decentralized exchanges that rival the trading experience of centralized exchanges.
Today, Chainlink, alongside scalable high-speed blockchain platform, Avalanche, and leading onchain perpetual and spot exchange, GMX, announced that Data Streams officially launched on Avalanche and will power GMX V2 as an initial use case.
Data Streams leverages Chainlink’s time-tested oracle infrastructure, which has enabled over $12 trillion in transaction value, to deliver the sub-second price data GMX V2’s computationally dense smart contract protocol needs to employ lower gas fees and faster price updates that make DeFi products like perpetual futures contracts possible.
“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, in an official announcement. “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.”
“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, a team supporting the development of Avalanche. “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.”
A GMX case study published earlier this year illustrated Chainlink’s fundamental role in building highly secure and performant decentralized exchanges that attract more users to DeFi by offering more advanced UI/UX optionalities. GMX core contributor, Coinflip, said integrating Data Streams on Avalanche builds on V2’s achievements with Data Streams on Arbitrum, including $360 million TVL, 104,000 unique users, and nine supported markets.
“GMX’s Data Streams integration on Avalanche mainnet is all about expanding the success of our GMX V2 launch. 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.”
To learn more about GMX, visit their website, X, Telegram, Discord, GitHub, and Substack.