TechFlow news: A new proposal has been submitted by the GMX community to adopt Chainlink as the oracle partner for GMX V2, aiming to enhance the protocol's resilience and decentralization.
Chainlink’s new low-latency oracles are designed to meet the needs of perpetual contract exchanges and other price-sensitive DeFi applications, providing refined real-time market data for both crypto and non-crypto markets on GMX V2.
The proposal outlines allocating 1.2% of protocol fees generated by GMX to Chainlink to support the future development of its low-latency oracle solution and technical integration with GMX. Protocol fees include user-paid charges currently proposed as position opening/closing fees ("margin trading"), borrowing fees, swap fees, and any other fees subsequently retained by the GMX treasury.
Notably, a beta version of Chainlink’s low-latency oracle is now deployed on the Arbitrum testnet, with core contributors actively conducting tests.
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