crypto-economy.com
TL;DR
- Chainlink, Avalanche, and GMX have launched Data Streams on Avalanche’s mainnet, enhancing DeFi with high-frequency, low-latency market data.
- Data Streams uses a pull-based model for dApps to efficiently access real-time data, crucial for platforms like GMX on Avalanche.
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It strengthens DeFi protocols by offering high security and performance, benefiting Avalanche with fast and efficient executions.
Chainlink, in collaboration with Avalanche and GMX, has announced the launch of Chainlink Data Streams on Avalanche’s mainnet, a significant advancement in expanding high-speed and secure DeFi products. This new tool allows decentralized applications (dApps) to access high-frequency market data with low latency, backed by Chainlink’s neutral and proven infrastructure.
Data Streams represents the next revolution in blockchain oracles, adopting a pull-based model that enables dApps to efficiently and securely obtain real-time market data. This approach is crucial for platforms like GMX, a perpetual futures exchange on Avalanche, which relies on accurate and fast data to facilitate uninterrupted financial transactions.
1/ #Chainlink Data Streams is now live on @avax with @GMX_IO V2.
How Data Streams levels up GMX’s DeFi perps with high-throughput market data and automated execution 🧵https://t.co/dHChR2vSzR pic.twitter.com/2kUD2b5uuL
— Chainlink (@chainlink) June 27, 2024
According to Johann Eid, Chief Business Officer at Chainlink Labs, the launch strengthens DeFi protocols’ ability to offer high-performance products while maintaining the characteristic security of on-chain finance. Eid highlighted that Data Streams will allow Avalanche and its associated projects to significantly enhance user experience through fast and efficient executions.
Chainlink Continues to Empower its Ecosystem
Lydia Chiu, Senior Vice President of Business Development at Ava Labs, expressed enthusiasm for the integration of Data Streams into Avalanche, emphasizing that these low-latency market data and automated execution capabilities will enable unique performance within the Avalanche ecosystem.
In addition to its impact on the DeFi sector, LINK continues to expand its capabilities day by day. Recently, it has integrated with networks like Celo and Gnosis, expanding its utility across different blockchains and promoting interoperability and efficiency in the use of data and computational resources.
Simultaneously, Chainlink has also made strides in the tokenization of real assets, such as the real estate sector, which could radically transform the accessibility and liquidity of traditionally illiquid assets.