Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
- GMX will integrate the new solution’s low-latency oracles into the upcoming V2 protocol.
- The low-latency oracle beta has already been deployed on the Arbitrum testnet.
Chainlink, a leading Web3 services platform, along with GMX, the largest decentralized perpetual exchange operating on Arbitrum and Avalanche, has announced that the GMX community has decided to adopt Chainlink’s cutting-edge low-latency oracles for financial market data.
Additionally, launch partner GMX will integrate the new solution’s low-latency oracles into the forthcoming GMX V2 protocol to enhance the management of perpetuals, swaps, and liquidity. This initiative sets a new standard for ultra-fast oracle infrastructure. Furthermore, the low-latency oracles represent a significant advancement for the safety, decentralization, and user experience within the DeFi ecosystem.
Significant Advancement in Web3’s Progress
Chainlink’s new low-latency oracles address the critical latency sensitivity of derivatives exchanges and other price-sensitive DeFi applications, marking a notable improvement.
Related Posts
Moreover, this challenge is mitigated by low-latency oracles, which offer pull-based, secure access to high-quality market data while maintaining the established architecture of Chainlink. This system ensures that information is cryptographically signed by a decentralized oracle network and verified on-chain.
With GMX’s integration, the decentralized exchange is anticipated to experience enhanced speed, improved data security, diminished front-running risks, and sustainable, long-term access to essential Web3 infrastructure.
Furthermore, the low-latency oracle beta has been launched on the Arbitrum testnet, and testing by GMX core contributors is currently in progress.
Additionally, the collaboration between GMX and Chainlink signifies a pivotal moment in Web3’s evolution towards economic sustainability and maturity. In exchange for utilizing the low-latency oracles and receiving technical support, Chainlink service providers will earn 1.2% of all fees generated by GMX V2 and future protocol iterations.
Recommended For You:
Thetanuts Finance Secures $17M in Institutional Funding to Drive DeFi Expansion and Partnerships
