GMX, a decentralized crypto derivatives exchange, may soon incorporate Chainlink’s low-latency oracles into its v2 platform as part of a proposal that is to be voted on by GMX holders. Chainlink is a leading service provider in decentralized finance (DeFi) and non-fungible token (NFTs) sub-sectors, offering decentralized oracles which act as middleware to link smart contracts deployed on platforms like Ethereum and Polygon to price feeds relayed from exchanges and other data sources.

By incorporating low-latency oracles from Chainlink, GMX v2 will have access to more granular real-time market data, allowing traders to make more informed decisions. The oracles are designed for use in applications such as perpetual exchanges and DeFi products, offering faster and more robust price feed relaying than the standard oracles. Chainlink has been developing the oracles for GMX since 2022 and will benefit from the integration with better data security, reduced front-running risks, and enhanced sustainability of the protocol.

As part of the deal, GMX has agreed to give 1.2% of its protocol fees to Chainlink for the service. The proposal was launched on April 6 and must be debated and voted on by GMX holders to pass into effect, with the outcome largely dependent on whether the community will approve of it. If successful, the integration could be a defining moment for Chainlink and the DeFi sector, making it a major player in the global cryptocurrency market.



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