GMX has been the initiator for introducing Chainlink data streams on Avalanche, utilizing data streams to boost its decentralized perpetual exchange. Chainlink data streams help pitch advanced high-output DeFi markets on Avalanche. The other players in this include Chainlink and Avalanche.
Chainlink data streams is an all-inclusive data service targeting the DeFi space. It combines low-latency market data with automated implementation to offer advanced and highly accelerated output DeFi items. With high-level market-related data and a decentralized framework, data streams allow high-output DefFi items to bring about smooth user exposure.
According to Chainlink Labs’ Chief Business Officer Johann Eid, it is a privilege for them to assist in boosting the advanced and high-output DeFi items on Avalanche. This will deliver unparalleled acceleration. Data streams allow DeFi protocols to offer speedy DeFi items while maintaining all safety aspects.
Through Chainlink data streams, dApps come in for connectivity with high-level market data supported by a decentralized and established Chainlink framework.
In the words of Lydia Chiu, the Senior Vice President of Business Development at Ava Labs, Chainlink data streams will allow the projects in the Avalanche ecosystem to offer users established abilities initiated by the decentralized Chainlink framework.
As per the leading supporter of GMX, Coinflip and Chainlink data streams have helped in matters related to the decentralized exchange’s acceleration and strength, which is an advantage for all traders and liquidity suppliers within the Avalanche community.
When it comes to decentralized computing solutions that support the authenticated web, Chainlink is the standard. It has carried out large volumes of transactions by offering real-time data, off-chain computation, and safe cross-chain interoperability to financial bodies, builders, and startups.
Avalanche, on the other hand, is a smart contracts base that can endlessly upgrade and periodically finalize transactions in the blink of an eye. Its unique consensus protocol, consisting of a Subnet framework and Hyper SDK tools, allows builders to introduce customized Blockchain services.
GMX is a top on-chain perpetual and spot exchange that provides in-depth liquid spaces about multiple prime crypto assets.
Source: https://www.cryptonewsz.com/gmx-formally-introduces-chainlink-data-streams-on-avalanche/