Leading permissionless perpetual exchange GMX has launched ultra-fast perpetual (perp) markets powered by Chainlink Data Streams on MegaETH, the first real-time blockchain. The combination of MegaETH’s 10-millisecond block times and Chainlink’s pull-based oracle solution unlocks a superior trading experience for GMX users with real-time execution and reduced liquidation risk.
GMX’s non-custodial perp trading platform, which 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.
In 2023, GMX became a launch partner for Chainlink Data Streams following a community vote. Data Streams leverage Chainlink’s time-tested oracle infrastructure, which has enabled over $28 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.
A 2024 GMX case study examined Chainlink’s fundamental role in building highly secure and performant decentralized exchanges that rival the user experience of centralized platforms and attract more users to DeFi by unlocking advanced UI/UX optionalities.
Last month, MegaETH joined the Chainlink Scale program and integrated Chainlink Data Feeds, Data Streams, and Cross-Chain Interoperability Protocol (CCIP), giving MegaETH users immediate access to top DeFi protocols such as Aave, GMX, Avon, and HelloTrade, as well as nearly $14 billion in assets including Lido’s wstETH and Lombard’s BTC.b and LBTC.
Launching on MegaETH, with its 10-millisecond block times and up to 100,000 transactions per second, while deploying Chainlink’s industry-leading oracle infrastructure allows GMX to advance onchain perpetual architecture with faster price updates that close the gap between decentralized and centralized exchanges.
The initial MegaETH deployment runs on the same battle-tested GMX stack that underwrites billions in weekly volume across seven other chains. After demonstrating performance at scale, a second deployment phase will progressively introduce MegaETH-specific optimizations that evolve without disrupting the GMX trading experience.