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June 2024 Recap: Data Streams Launches On Avalanche To Power GMX V2, Gnosis Integrates CCIP And Automation

Headlining Chainlink news in June, Data Streams officially launched on Avalanche to power next-gen DeFi products, beginning with leading onchain perpetual and spot exchange, GMX V2.

Data Streams is a pull-based oracle solution that allows protocols to consume data more cost-effectively and at lower latencies while reducing the risk of frontrunning and MEV. Combined with Avalanche’s scalable high-speed blockchain platform, Data Streams can unlock ultra-fast, high-throughput DeFi protocols and highly performant decentralized exchanges that rival the trading experience of centralized exchanges. 

Leveraging Chainlink’s time-tested oracle infrastructure, which has enabled over $12 trillion in transaction value, Data Feeds delivers 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 perpetual futures contracts possible. 

Also in June, EVM-compatible layer-1 network Gnosis announced it integrated Chainlink CCIP and Automation to provide developers with the blockchain interoperability and verifiable compute needed to build advanced applications with real-world utility. 

Gnosis’ Head of Infrastructure, Philippe Schommers, described the integration of key Chainlink services on Gnosis Chain’s highly decentralized network, which is secured by 200,000+ validators and 2,000+ nodes across 70 countries and five continents, as a significant leap in scaling web3 toward mass adoption. 

In the latest episode of Chainlink’s “The Future Is On” spotlight series, Chainlink co-founder Sergey Nazarov explained how Chainlink’s Cross-Chain Interoperability Protocol (CCIP) and other essential Chainlink services are accelerating global adoption of tokenized real-world assets.

Because Chainlink-powered tokenized assets impart numerous benefits such as atomic settlement, fractionalization, and programmability while serving as a unified golden record that combines ownership rights and vital data, Nazarov expects all of the world’s value will ultimately be reformatted into a superior state onchain

Chainlink co-founder Sergey Nazarov featured in Chainlink’s “The Future Is On” spotlight series

The Chainlink ecosystem added several key CCIP integrations in June:

Weset, a comprehensive ecosystem for real-world asset tokenization, announced its CCIP integration across BNB Chain and Ethereum to facilitate cross-chain transfers of its native token, WECO, in order to unlock new liquidity, enhance its user experience, and ultimately propel tokenized asset adoption forward.

DOMANI, an asset management protocol that allows users to mint, trade, redeem, and provide liquidity on non-custodial tokenized portfolios, announced it integrated Chainlink Price Feeds and CCIP across Arbitrum and Polygon to support new institutional cross-chain use cases.

RealToken DAO, a decentralized autonomous organization governing the tokenization of real-world assets within the RealT ecosystem, announced its CCIP integration across Ethereum, Gnosis, and Polygon to unlock cross-chain transfers of its governance token, REG. 

Mode, an Ethereum layer-2 that rewards users for contributing to the network’s growth, announced it natively integrated CCIP as its canonical cross-chain infrastructure to support a broad range of use cases throughout DeFi and real-world asset tokenization.

Ledgity Yield, a stablecoin yield protocol backed by real-world assets, announced its CCIP integration across Arbitrum, Base, and Ethereum to power cross-chain transfers of its real-world asset-backed token, LDY, allowing users to stake LDY from different chains.

DLC.Link, an infrastructure provider for the Bitcoin ecosystem and creator of the dlcBTC wrapped Bitcoin, announced it integrated Chainlink CCIP and Proof of Reserve on Arbitrum and Ethereum to unlock secure cross-chain transfers of dlcBTC alongside transparent, real-time verification that it is fully collateralized.

View the entire Chainlink ecosystem in one place.

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