GMX Integrates with Chainlink Low-Latency Oracles for Faster DeFi Trading
Author: Melanie LeeLow-latency oracles are also designed to minimize front-running threats and help create a more secure and sustainable ecosystem. GMX's native token, also named GMX, has already surged by 78% this year, indicating a high level of confidence in the exchange. Additionally, GMX currently holds over $567 million in value locked (TVL) on Arbitrum, according to DefiLlama data.
A GMX core developer revealed that the exchange and Chainlink Labs have been working together since last year on the specifications of the new oracles. This collaboration recently came to fruition when more than 96% of GMX contributors approved the integration with nearly 2 million GMX tokens being used to vote.
Johann Eid, Vice President of Go-To-Market at Chainlink Labs, believes that the integration is a welcome one as it brings DeFi closer to the level of performance offered outside of it. He also cited economic alignment as a key factor in setting the foundation for a more sustainable DeFi ecosystem.
So far, GMX's connectivity to Chainlink Low Latency Oracles appears to be the start of a new era of DeFi, one where faster, more sophisticated trading strategies play a greater role in financial markets.