Chainlink Data Streams Launches on Mainnet As New High-Speed Oracle Solution for DeFi

News provided by

Oct 02, 2023, 10:00 ET

Leading DeFi protocols including GMX are now leveraging Chainlink Data Streams to create a trading experience that rivals centralized exchanges.

BARCELONA, Spain, Oct. 2, 2023 /PRNewswire/ -- Chainlink, the industry-standard decentralized computing platform, announced today the launch of Chainlink Data Streams—the all-in-one data solution for the DeFi market, combining low-latency market data and automated execution to unlock a new generation of ultra-fast and user-friendly derivatives products.

As part of the launch, Chainlink Data Streams has now entered Mainnet Early Access on Arbitrum, where leading DeFi protocol GMX is using it in production to help power a highly performant and secure decentralized exchange. Users can apply for Mainnet Early Access to Chainlink Data Streams here.

Chainlink Data Streams is a pull-based oracle solution, where high-frequency market data is continuously made available offchain. Chainlink Automation is then used to automate transaction settlement by bundling real-time prices with incoming trade submissions and posting them onchain for validation and settlement.

Through Chainlink Data Streams, DeFi markets can take a seismic leap forward since developers can now create superior trading experiences with lower slippage, reduced fees, lighting-fast settlement times, and built-in protections against toxic market exploitation—all while benefiting from the same battle-tested oracle security and high-quality data that Chainlink is known for.

Importantly, Chainlink Data Streams paves the way for DeFi protocols to offer users a safe-trading experience at scale. This is because Chainlink Data Streams utilizes conflict-of-interest-free data delivery, credibly neutral settlement infrastructure, and a commit-and-reveal architecture allowing developers to create built-in frontrunning protections. Such features combine to support financial incentives and robust guardrails enabling users to receive fair execution on their trades and protecting them against toxic flow and adverse selection.

"Data Streams not only enables DeFi protocols to support execution speeds and a user experience that rival centralized exchanges, but to do so without compromising on the core Web3 value of fair, transparent, and decentralized infrastructure," said Sergey Nazarov, Co-founder of Chainlink. "With the DeFi markets representing only a tiny fraction of the over $1 quadrillion of notional value in traditional markets, Chainlink Data Streams is the low-latency data solution needed to unlock next-generation DeFi applications that support the performance and security requirements to achieve mass adoption."

GMX is currently the largest decentralized perpetual exchange by Total Value Locked (TVL) on Arbitrum and Avalanche. Integrating Chainlink Data streams is enabling the protocol to scale in both speed and security/reliability without having to build and maintain their own in-house infrastructure.

"GMX V2 has been launched: the leading decentralized perpetual exchange utilizing Chainlink Data Streams," said X, development core contributor of GMX. "Chainlink Data Streams contribute to a high-performance UX through low-latency data delivery. The credibly neutral and secure infrastructure of these streams supports reliable, decentralized on-chain execution. Chainlink Data Streams have played a pivotal role in the development of GMX V2, as the protocol strives to balance unparalleled user experience with decentralized principles."

Following GMX's mainnet integration of Data Streams, a growing number of DeFi protocols are successfully integrating on the Arbitrum Goerli testnet, including ApolloX, DRX Exchange, Marquee, MUFEX, Ostium, PancakeSwap, Perennial, Ryze, SubstanceX, YFX, and Zaros.

For more information, please see the Chainlink Data Streams blog post here.

About Chainlink

Chainlink is the industry-standard Web3 services platform. It has enabled trillions of dollars in transaction volume across DeFi, onchain finance, gaming, NFTs, and other major industries. As the leading decentralized oracle network, Chainlink empowers developers to build feature-rich Web3 applications with seamless access to real-world data and offchain computation across any blockchain and provides global enterprises with a universal gateway to all blockchains.

Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link. To discuss an integration, reach out to an expert.

SOURCE Chainlink