Today, permissionless perpetual exchange GMX launched Chainlink-powered gold and silver (XAU/USD and XAG/USD) synthetic perpetual markets, signaling a broader expansion into tokenized real-world assets (RWAs).
GMX has facilitated over $363 billion in notional volume, is integrated with more than 70 DeFi protocols, and serves more than 740,000 traders across eight chains. GMX perp markets have been powered by Chainlink Data Streams since a GMX community vote to become a Data Streams launch partner in 2023.
Data Streams is a pull-based oracle solution that leverages Chainlink’s time-tested oracle infrastructure, which has enabled over $29 trillion in transaction value, to deliver the sub-second price data that makes DeFi products like perpetual futures contracts possible.
Gold and silver are two of the most liquid global financial instruments, traded continuously across global futures and OTC markets. Amid DeFi’s growing demand for RWAs, gold and silver are a natural entry point for 24/7 onchain perp trading.
GMX’s XAU/USD and XAG/USD markets are frictionless synthetic perps. Positions are opened and settled onchain using WETH-USDC liquidity, with pricing secured via Chainlink’s low-latency Data Streams. With a primary deployment on Arbitrum, traders on Base, BNB Chain, and Ethereum mainnet can also access XAU/USD and XAG/USD markets on GMX.
“Gold and silver perps on GMX are the first step in a broader move into real-world assets,” said GMX’s Communications Coordinator, Jone Zee, in an official announcement.
“The infrastructure – synthetic markets, oracle pricing, 24/7 settlement – doesn’t care whether the underlying is a crypto token or a commodity. Chainlink Data Streams give us the pricing reliability these markets require.”
“Through Chainlink, GMX is establishing advanced markets where commodities are accessible to everyone and traded 24/7,” added Chainlink Labs’ Chief Business Officer, Johann Eid.
“This is how we enter a new era where the world’s largest commodities are traded onchain at a massive scale.”
To learn more about GMX, visit their website, X, Telegram, Discord, and GitHub.