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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