According to a press release published on Thursday, JOJO Exchange, a decentralized exchange (DEX) for perpetual futures trading that operates on the Base Network, has implemented Chainlink Data Streams as an oracle solution.
Quoted Exchange Chain linkInfrastructure, sub-second price latency, and high data accuracy were cited as key reasons for the integration. The use of liquidity-weighted bid-ask spreads and the protocol’s emphasis on transparency and decentralization were also cited as deciding factors.
“Chainlink Data Streams provide ultra-low latency bid and ask data to power the JOJO protocol, enabling a premium UX while ensuring a robust risk framework that ultimately helps secure the protocol,” said Jotaro, JOJO Founder.
“By leveraging industry-standard Chainlink data, JOJO can help ensure unparalleled security for liquidations on their platform,” said William Riley, Head of Global Strategic Partners at Chainlink Labs, adding that the integration “will enable a seamless and lightning-fast DeFi user experience.”
JOJO implements programmable and automated trading using smart contract orders combined with data from Chainlink Data Streams, allowing users to automatically enter positions at predetermined prices.
JOJO Exchange offers up to 1,000x leverage and matches smart contract orders off-chain and settles them on-chain for greater efficiency. The platform also supports using Liquid Staking Tokens (LST) and Liquid Re-Staking Tokens (LRT) as collateral.
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Jordan Leech is a Berlin-based editorial intern at The Block. He worked as a broadcast journalist, cameraman, and producer for several years before settling down to work in the crypto industry. Jordan holds a degree in philosophy and politics from the University of Guelph and is an avid photographer and traveler in his free time.