MYX Finance Integrates Chainlink Data Standard to Enhance Perpetual Markets

chainlink

MYX Finance has announced its integration of Chainlink’s data-standard services to bolster its decentralized perpetual trading system with real-time, verifiable market data across all EVM-compatible chains. This upgrade aims to enhance transparency and performance in trading.

Key Takeaways

MYX Finance has incorporated Chainlink's data services for improved market data.
The integration enables real-time price feeds and data accuracy for traders.
Chainlink is the leading oracle provider in decentralized finance (DeFi).
MYX Finance aims to create a transparent, permissionless trading environment.

MYX Finance Enhances Trading with Chainlink Integration

MYX Finance, recognized for its decentralized infrastructure catering to perpetual markets, has announced a significant development: the integration of Chainlink’s data-standard services, including Data Streams and DataLink. This move is set to provide real-time, verifiable market data for its trading framework across all chains that are compatible with Ethereum Virtual Machine (EVM).

Ryan, the Founder of MYX Finance, expressed, “Upgrading to the Chainlink data standard strengthens MYX’s commitment to transparent, high-performance on-chain trading.” He added, “With Chainlink, we’re making real-time perpetual markets accessible to everyone—permissionless, provable, and primed for the next era of decentralized finance (DeFi).”

Chainlink

The integration with Chainlink is poised to provide traders with price feeds that have sub-second latency and institutional-level data accuracy, featuring liquidity-weighted bid-ask spreads and proven oracle infrastructure. This translates to faster execution and more reliable market data that reflects current conditions, thereby reducing slippage and enhancing trading accuracy. For liquidity providers, this system ensures risk and rewards are defined by trustworthy data.

Chainlink: The Backbone of DeFi Data

Chainlink continues to establish itself as the premier oracle provider within the DeFi ecosystem and beyond. The addition of MYX Finance to its growing network of data feed adopters marks another milestone in Chainlink's expansive footprint. The network now facilitates over 2,500 projects, covering various applications including DeFi protocols, enterprise solutions, and tokenized asset platforms.

As Chainlink bridges traditional finance (TradFi) with blockchain, it ensures the availability of reliable data streams for various applications such as government systems, stablecoin evaluations, and capital market operations. Recently, Chainlink partnered with S&P Global Ratings to introduce on-chain metrics for stablecoin stability, along with numerous new collaborations across eleven different blockchains.