Decentralized exchange GMX will integrate Chainlink’s low latency Oracles

Decentralized exchange GMX will integrate Chainlink’s low latency Oracles

Chainlink, the standard Web3 services platform, and GMX, the biggest decentralized perpetual exchange running on Arbitrum and Avalanche, have announced that the GMX community has elected to incorporate Chainlink’s innovative low-latency oracles for financial market data.

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. The low-latency oracles provide pull-based, safe access to high-quality market data while retaining the tried-and-true architecture of Chainlink.

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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.

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.

Compiled by Coinbold