GMX-Solana has officially adopted Chainlink’s Data Streams Oracle solution for pricing data, financing rates and liquidations. In parallel, Chainlink’s Cross-Chain Interoperability Protocol (CCIP) facilitated cross-staking for Lido, extending accessibility to staked Ethereum (ETH) on Layer-2 (L2) networks.

These developments highlight Chainlink’s expanding role in decentralized finance (Defiant). It provides new avenues for secure and decentralized trading and staking across various blockchain networks.

Link Data streams now available on Solana

The decentralized perpetual trading platform has selected Chainlink Data Streams as its data oracle solution to support its derivative markets on Solana. This integration aims to meet the high demands of high-frequency trading by leveraging Chainlink’s trusted infrastructure. For GMX-Solana, this strategic choice is established to improve accuracy, transparency and the market security.

“GMX-Solana is based on transparency and decentralization, principles that closely align with Chainlink’s approach to enabling DeFi at scale. The integration of Chainlink data feeds into GMX-Solana will help ensure that our derivatives markets are supported by a battle-tested, decentralized infrastructure, enabling a fair trading experience while leveraging the performance benefits of Solana,” a explained Q, co-founder of GMX-Solana.

Read more: What is Chainlink (LINK)?

The recent move aligns with Chainlink’s established role in the DeFi ecosystem as a provider of reliable and high-speed data solutions. The adoption of Chainlink Data Streams provides a solid foundation for GMX-Solana to manage execution prices and other critical trading parameters. This would increase user confidence in a decentralized trading environment.

Key benefits include high data accuracy, a low-latency data delivery model and access to liquidity-weighted spreads. All of these are vital to maintaining market stability and reflecting accurate measures of liquidity.

To maintain a sustainable economic model, GMX-Solana will allocate 1.2% of total protocol fees to Chainlink service providers. This mechanism ensures that Chainlink Data Streams can continue to provide low latency and verifiable market data to GMX-Solana for years to come.

Lido integrates Chainlink CCIP for Cross-Chain Staking

In parallel with the GMX-Solana partnership, Lido, a leading liquid betting provider, has integrated Chainlink’s CCIP. This integration allows users to the ETH stake directly from Layer-2 networks and receive liquid wstETH (wrapped staked ETH) in return.

Powered by Chainlink’s programmable token transfers, the cross-chain staking solution streamlines the L2 staking process, such as ArbitrumBase and Optimism, eliminating the need to connect assets back to the Ethereum mainnet.

This integration solves a long-standing sticking point in ETH staking on L2 networks, where users previously had to link assets, often incurring SLIP. Now with CCIP, users can participate in a single transaction directly from L2 networks, increasing the liquidity and accessibility of staked ETH in the DeFi ecosystem.

“Chainlink’s CCIP was instrumental in enabling this new staking functionality. Through programmable token transfers, Direct Staking Lido simplifies staking in Tier 2 networks, improving liquidity for wstETH and improving cross-chain interoperability,” said Jakov Buratović, Master of DeFi at Lido.

Chainlink’s influence extends beyond GMX and Lido. Various platforms in the DeFi and blockchain ecosystems are increasingly adopting CCIP. The most important aspects include The mountain protocol, Spider chainand Ronin.

This wave of integrations highlights Chainlink’s expanding role as an essential infrastructure for cross-chain interoperability. These active partnerships and integrations drive new utility for the Chainlink token, LINK.

“Chainlink generates cash from the fees smart contract developers pay for Oracle services. This money is used for compensation node operators. The more DeFi protocols and blockchain applications adopt Chainlink, the greater the demand for LINK,” Digital Currency Academy he wrote.

Read more: How to buy Chainlink (LINK) and everything you need to know

Despite these developments, LINK’s performance remains disappointing, rising just 3.8% on the news to trade at $11.52 at the time of writing.