- GMX will be incorporating the new solution’s low-latency oracles into the future V2 protocol.
- The low-latency oracle beta has already been put on the Arbitrum testnet.
Chainlink, the standard Web3 services platform, and GMX, the biggest decentralized perpetual exchange running on Arbitrum and Avalanche, have now announced that the GMX community has elected to incorporate Chainlink’s innovative low-latency oracles for financial market data.
Moreover, launch partner GMX will be incorporating the new solution’s low-latency oracles into the future GMX V2 protocol. In order to better handle perpetuals, swaps, and liquidity. It is introducing a new benchmark for ultra-fast oracle infrastructure. Also, the low-latency oracles are a game-changer for the DeFi economy’s safety, decentralization, and user experience.
Watershed Moment in Web3’s Development
The severe latency-sensitivity of derivatives exchanges and other price-sensitive DeFi applications is addressed by Chainlink’s new low-latency oracles, which is a significant advance.
Moreover, this issue is resolved by low-latency oracles. Which provides pull-based, safe access to high-quality market data. That too while retaining the tried-and-true architecture of Chainlink. In which information is cryptographically signed by a decentralized oracle network and confirmed on-chain.
With GMX’s integration, the decentralized exchange is expected to have improved speed, increased data security, reduced front-running threats, and sustainable, long-term access to critical Web3 infrastructure.
Furthermore, the low-latency oracle beta has been put on the Arbitrum testnet. And testing by GMX core contributors is now underway.
Also, by establishing a long-term financial structure, the partnership between GMX and Chainlink is a watershed point in Web3’s development toward economic viability and maturity. In return for the use of the low-latency oracles and technical assistance, Chainlink service providers will be compensated 1.2% of all fees earned by GMX V2 and subsequent protocol versions.
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