- GMX-Solana adopts Chainlink’s Data Streams, boosting trading precision and transparency on Solana’s derivatives platform.
- Lido integrates Chainlink’s CCIP, enabling direct ETH staking from Layer-2 networks without bridging to mainnet.
Chainlink (LINK) has secured key roles within decentralized finance (DeFi) through two new partnerships—one with GMX-Solana and another with Lido.
Meanwhile, these integrations reflect Chainlink’s ongoing efforts to enhance DeFi infrastructure with real-time data solutions and cross-chain capabilities, boosting trading precision and making ETH staking more accessible.
GMX-Solana Chooses Chainlink for Real-Time Price Feeds
Chainlink Data Streams has recently emerged as the primary data source for market data for the decentralized derivatives marketplace on Solana called GMX-Solana. The purpose of this relationship is to ensure that market or price feeds delivered on real-time basis to high frequency trading are credible. Through integration with the Chainlink decentralized network, GMX Solana aims to keep trading data as transparent and thus as secure and reliable, as low latency.
The decision aligns with the core principles of GMX-Solana, according to its co-founder, Q:
“GMX-Solana is founded on transparency and decentralization, principles that align closely with Chainlink’s approach to enabling DeFi at scale. Integrating Chainlink Data Streams into GMX-Solana will help ensure that our derivatives markets are supported by decentralized, battle-tested infrastructure.”
This implementation is set to enhance both trading accuracy and user trust in the platform.
To maintain the efficiency of this data service, GMX-Solana has agreed to allocate 1.2% of its protocol fees to compensate Chainlink service providers. This structure aims to support sustainable operations and ensure the continuity of real-time data delivery.
Lido Adds Chainlink’s CCIP for Cross-Chain ETH Staking
Lido, a liquid staking provider, has partnered with Chainlink to implement its Cross-Chain Interoperability Protocol (CCIP). This addition allows users to stake ETH directly from Layer-2 networks—such as Arbitrum, Base, and Optimism—without having to bridge tokens back to Ethereum’s mainnet. By simplifying the staking process, users can receive liquid wrapped staked ETH (wstETH) more efficiently and with fewer steps.
Jakov Buratović, Master of DeFi at Lido, noted the importance of this update:
“Chainlink’s CCIP was instrumental in enabling this new staking functionality. With Programmable Token Transfers, Lido’s Direct Staking simplifies staking across Layer 2 networks, improving liquidity for wstETH and enhancing cross-chain interoperability.”
This integration aims to remove longstanding hurdles, making ETH staking from L2 networks quicker and reducing transaction costs.
Growing Adoption Across DeFi Platforms
The recent integrations with GMX-Solana and Lido highlight a broader trend of Chainlink’s CCIP being embraced across the DeFi space. Other platforms, such as Mountain Protocol, Spiderchain, and Ronin, have also started using Chainlink’s cross-chain solutions. These implementations aim to improve network connectivity, enabling smoother asset transfers and data exchange across blockchains.
This broader use is in sync with DeFi’s growing requirements of compatibility layers that connect multiple systems together and allow users to engage with them faster. This is where Chainlink’s CCIP plays an important role so that users can just flow seamlessly from one decentralized world to another.
Rising Demand for LINK Token
Through its growth in deploying Chainlink’s services, demand for its native token, LINK, is also increasing. Chainlink’s oracle solutions consume LINK paid by developers to use, then pay node operators. This mechanism not only helps Chainlink run, but also introduces more demand for LINK in the market.
Digital Currency Academy summarized this dynamic:
“Chainlink generates cash from the fees smart contract developers pay for Oracle services. This cash is used to compensate node operators. The more DeFi protocols and blockchain applications adopt Chainlink, the higher the demand for LINK.”
At press time, the price of LINK is trading at $12.04 with a 24hr volume of $416,332,937. In the past 24 hours, the token has gained 4.93%, and now has a market cap around $7.55 billion.
