Hassan Maishera
Chainlink announced via X on Wednesday that GMX has launched an ETH/USD perpetual market backed by Lido Finance’s wstETH and Ethena Lab’s USDe, enabled by Chainlink Data Streams.
The new ETH-USD [wstETH-USDe] market provides DeFi users with opportunities for swapping, margin trading, hedging, earning Ethena points, and earning fees from providing liquidity.
The Chainlink Data Streams provide GMX users with sub-second pricing updates and fast on-chain transaction execution while reducing reliance on RPC servers, which improves UX, protocol security, and decentralization.
Chainlink Network (LINK) aims to provide tamper-proof inputs and outputs of data for smart contracts on any blockchain. LINK is down 2% over the past 24 hours and is trading at $12.82 at press time.
GMX is a decentralized, permissionless perpetual swap and spot exchange. Traders can use it to easily trade cryptocurrency on-chain just by connecting their wallets. GMX is trading at $26.53, down 6% in the last 24 hours.
