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Home»ADOPTION NEWS»JOJO Exchange Integrates Chainlink Data Streams into Base Mainnet
ADOPTION NEWS

JOJO Exchange Integrates Chainlink Data Streams into Base Mainnet

By Crypto FlexsSeptember 5, 20242 Mins Read
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JOJO Exchange Integrates Chainlink Data Streams into Base Mainnet
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DeFi • September 5, 2024, 12:04 PM EDT

Posted 1 minute earlier ~ in

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.


Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, influential and timely information on the cryptocurrency industry. Current financial disclosures are as follows:

© 2024 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.

About the Author

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.

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