JOJO Exchange Integrates Chainlink Data Streams to Enhance Perpetual Futures Trading on Base Network
JOJO Exchange integrates Chainlink Data Streams for faster, more accurate price data, boosting security and efficiency in perpetual futures trading on the Base network.
Bollywood Fever: JOJO Exchange, a decentralized exchange (DEX) for perpetual futures on the Base network, has integrated Chainlink Data Streams as its oracle solution, as announced in a press release on Thursday.
The exchange emphasized Chainlink’s infrastructure, sub-second price latency, and superior data accuracy as key benefits of the integration. Additionally, the use of liquidity-weighted bid-ask spreads and the focus on transparency and decentralization played a crucial role in this decision.
“Chainlink Data Streams delivers ultra-low-latency bid and ask data to power the JOJO protocol, allowing us to provide an advanced UX while ensuring a robust risk framework that ultimately helps safeguard the protocol,” said JOJO founder Jotaro.
According to William Reilly, Global Head of Strategic Partners at Chainlink Labs, “By leveraging industry-standard Chainlink data, JOJO can help ensure unparalleled security for liquidations on its platform,” adding that the integration would “support a seamless and ultra-fast DeFi user experience.”
The incorporation of smart contract orders on JOJO, paired with data from Chainlink Data Streams, facilitates automated and programmable trading. This allows users to set pre-determined entry points for trades, streamlining the trading process.
JOJO Exchange offers leverage up to 1,000 times and processes smart contract orders off-chain, with settlement occurring on-chain for enhanced efficiency. The platform also accepts liquid staking tokens (LST) and liquid restaking tokens (LRT) as collateral, expanding its trading options.
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