Decentralized derivatives exchange GMX_IO will integrate chainlink's low-latency pricing oracles following a successful community vote. Reporting by oknightcrypto.
Arbitrum-based decentralized exchange GMX will connect to Chainlink's low-latency pricing oracles, which are designed to feed price data faster than regular oracles, to enhance its derivatives and perpetual swap exchange.
The exchange's native token, also named GMX, has surged by 78% since the turn of the year as capital continues to flow to Arbitrum-based protocols. Total value locked on Arbitrum is at $2.1 billion as it gears up towards a record high; $567 million of that value is from GMX, according toAt press time, more than 96% of community votes approved the integration, with almost 2 million GMX tokens being used to vote. sector has evolved.
"The low-latency oracles will bring the industry one step closer to the performance level that currently exists outside of it, while our economic alignment helps set the foundation for a more sustainable ecosystem," said Johann Eid, vice president of Go-To-Market at Chainlink Labs.GMX contributors have been working with Chainlink Labs since last year on the specifications of the new oracles, according to a GMX core developer.
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