2024-06-28
On June 27, 2024, Chainlink announced that Chainlink Data
Streams has officially launched on Avalanche, with GMX a leading onchain
perpetual and spot exchange as a launch partner.
GMX is the second largest decentralized exchange on
Avalanche. It will use Data Streams to help power its decentralized perpetual
exchange.
Chainlink Data Streams is a feature of the Chainlink
network that provides low-latency delivery of market data off-chain, which can
be verified on-chain.
This allows decentralized applications (dApps) to have
on-demand access to high-frequency market data backed by a decentralized and
transparent infrastructure.
Advantages of Chainlink Data Streams
Pull-Based Oracle Design
Unlike traditional push-based oracles that provide regular
updates on-chain when certain price thresholds or update time periods have been
met, Chainlink Data Streams is built using a new pull-based oracle design that
maintains trust-minimization using on-chain verification.
This means you can retrieve the data in a report and use it
on-chain any time.
Efficiency
Pull-based oracles deliver data on-chain more efficiently
by retrieving and verifying the data only when the application needs it.
For example, a decentralized exchange might retrieve a Data
Streams report and verify the data on-chain when a user executes a trade.
Use Cases
Pull-based oracles allow decentralized applications to
access data that is updated at a high frequency and delivered with low latency,
enabling several new use cases such as Perpetual Futures, Options, and
Prediction Markets.
Integration with Chainlink Automation
When combined with Chainlink Automation, Chainlink Data
Streams allows decentralized applications to automate trade execution, mitigate
frontrunning, and limit bias or adverse incentives in executing
non-user-triggered orders.
