Chainlink Data Streams launches on Avalanche with GMX V2 Integration

Chainlink, Avalanche, and GMX have announced the launch of Chainlink Data Streams on the Avalanche mainnet, according to a press release shared with BSCN.

As per reports, Chainlink Data Streams introduces advanced capabilities to the Avalanche ecosystem, leveraging low-latency market data and automated execution. This integration aims to enhance the speed, throughput, and user experience of DeFi products on Avalanche, comparable to centralized exchanges (CEXs) while maintaining robust security.

Johann Eid, Chief Business Officer at Chainlink Labs, emphasized the groundbreaking potential of Data Streams: 

"By offering unmatched speed and resiliency, Data Streams enable DeFi protocols to provide ultra-fast, high-throughput products while ensuring the security guarantees of onchain finance."

Impact on GMX and Avalanche Community 

GMX, as a launch partner, integrated Data Streams to bolster its decentralized perpetual exchange, GMX V2. This integration is expected to enhance trading efficiency and security for users within the Avalanche community.

Coinflip, core contributor at GMX, expressed optimism: 

"Chainlink Data Streams has significantly enhanced GMX V2’s speed and resiliency, benefiting traders and liquidity providers in the Avalanche ecosystem."

Chainlink’s Recent Collaborations 

Chainlink's recent collaborations include enabling RD Technologies to launch the Hong Kong dollar stablecoin (HKDR) with cross-chain interoperability via Chainlink's protocol. This integration aims to enhance the accessibility and transparency of HKDR across blockchain platforms.

Additionally, Gnosis integrated Chainlink's Cross-Chain Interoperability Protocol (CCIP) and Automation on its mainnet, further expanding the utility of Chainlink's services for developers.