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SubstanceX Joins Chainlink BUILD To Accelerate Adoption Of Decentralized Perpetuals

The Chainlink BUILD program fosters promising early-stage startups in Chainlink’s ecosystem. Participants receive enhanced access to essential Chainlink infrastructure and technical support in exchange for paying fees that incentivize Chainlink service providers, boosting the network’s cryptoeconomic security and advancing the web3 industry as a whole.

Recently, SubstanceX, a decentralized trading platform designed to exceed the security and transparency of centralized exchanges, announced it’s joining BUILD to accelerate the long-term adoption of decentralized perpetuals by leveraging key Chainlink services including Data Streams and Cross-Chain Interoperability Protocol (CCIP).

Chainlink’s time-tested oracle network has delivered over 11.5 billion data points and enabled more than $9.5 trillion in transaction value onchain. As the industry-leading decentralized computing platform, Chainlink plays a fundamental role in powering highly secure and performant decentralized exchanges that rival the user experience of centralized exchanges.

Data Streams is a pull-based oracle solution through which high-frequency market data is continuously made available offchain and pulled onchain as needed by users’ transactions. In addition to reducing the risk of frontrunning and MEV by keeping price data private until transactions are settled, Data Streams makes it possible to scale advanced DeFi products, such as perpetual futures contracts, that require lower gas fees and faster price updates. 

According to an official announcement, Data Streams “will sit at the core of SubstanceX’s product.” Because SubstanceX defines its broader mission as solving liquidity fragmentation problems on perpetuals exchanges, its roadmap includes integrating CCIP, which utilizes Chainlink’s oracle infrastructure to securely transfer tokenized assets and data between various public and private blockchains.

“We’re excited to join Chainlink BUILD to gain access to industry-standard oracle services, technical support, and a robust cryptoeconomic model that empowers us to build decentralized perpetuals with greater security assurances,” said Roger, founder of SubstanceX. “We look forward to continuing our collaboration together and we welcome the passionate Chainlink community into the SubstanceX ecosystem.”

To learn more about SubstanceX, visit their website, X, Telegram, and Discord.

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