Oracle Security’s Role in the DeFi Derivatives Market with Chainlink and GMX

Chaos Labs is ready to optimize and secure online finance apps. and shares its latest collaboration with Chainlink Labs and GMX. The long-awaited release of GMX V2 on Arbitrum uses Chainlink Data Streams, an end-to-end solution for decentralized finance (DeFi) that combines automated trade execution and transmission. Low latency data

The rapidly developing DeFi derivatives market is due to the emergence of high-throughput, low-cost blockchains such as Arbitrum. and minimum gas fees It can perfectly optimize the trading experience on the network. This innovation has set the stage for rapid growth within the sector.

However, there needs to be more responsibility with such great innovations. With the expansion of the DeFi derivatives market, the role of Oracles, including entities, is to feed reliable, timely, and accurate data into the financial ecosystem. more important

The complexity of incentives and the systems they create can open new doors for exploitation. Therefore, Oracle’s security role is of utmost importance. Oracle aims to ensure secure DeFi apps whose accuracy directly affects financial results, such as LP profitability and settlement times. Accounting Therefore, choosing a secure Oracle service is a decision based on reliability. decentralization and flexibility

Chaos Labs has developed a tool to assess the resiliency and robustness of Oracle networks and exploit them across verticals. To check for completeness and ensure that management costs outweigh theoretical returns.

The expansion of the DeFi derivatives market has brought access to new levels of leverage. The size and volume of transactions has increased. However, this evolution has brought new challenges. Particularly related to the risk and high latency of leverage, Chainlink Labs has developed a solution in collaboration with Chainlink Data Stream to address these challenges. A decentralized and transparent data infrastructure will cater to latency-sensitive markets such as DeFi derivatives markets.

Another leader in the all-time decentralized exchange arena, GMX has taken a huge leap forward with the release of V2. GMX has joined Chaos to scale GMX V2 and ensure efficient and secure scalability. To provide a fair and transparent trader experience, Chainlink data streams provide ultra-low latency data updates. and helps many leading data providers reliably deliver timely and accurate information. There are several decentralization layers. Information free from conflicts of interest and protection Deep security

Integrating GMX with Chain link It has expanded the role of Oracle’s security, addressing critical security concerns such as latency, meeting stringent data quality control requirements. and protect users from price manipulation.

In the ever-changing DeFi world Where risk management has become a discipline, Chaos Labs recently partnered with industry leaders Chainlink Labs and GMX to improve data security and risk management within the DeFi derivatives space.

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