YFX Integrates Chainlink Data Streams to Power Decentralized Perpetuals Exchange

We’re excited to announce that YFX — a decentralized perpetual exchange — has integrated Chainlink Data Streams on Arbitrum mainnet. By integrating DeFi’s industry-standard pull-based low-latency oracle solution, YFX can now provide a high-performance DeFi user experience backed by credibly neutral Chainlink infrastructure.

Our initial integration involves the use of the following Chainlink Data Streams: AVAX/USD, BNB/USD, BTC/USD, DOGE/USD, ETH/USD, LINK/USD, USDC/USD, and USDT/USD. We chose Chainlink Data Streams as our preferred low-latency oracle solution because they supply premium data using proven Chainlink infrastructure, which achieves unmatched performance and security even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.

YFX is a decentralized perpetuals exchange. Building on the current Perpetual Protocol market, YFX V4 offers the most comprehensive solution with the lowest cost, providing traders and makers with the most convenient, capital-efficient, and profitable trading platform. Both traders and makers can use a leverage of up to 200x in YFX V4, significantly increasing capital efficiency within the system. Also, the Premium Index and Market Price are introduced to balance long and short positions. In the new referral system, users can enjoy commissions with up to 75% rebate rate.

After reviewing various solutions, we integrated Chainlink Data Streams because they support a multitude of critical features such as:

• Sub-second price resolutions: Chainlink Data Streams provide sub-second data delivery using battle-tested oracle infrastructure, enabling a highly performant user experience without compromising on Web3 values such as decentralization and transparency.
• Frontrunning protection: Chainlink Data Streams make use of conflict of interest-free data sources and a commit and reveal architecture to help ensure traders and liquidity sources are protected against malicious price manipulation and information arbitrage.
• Decentralized onchain execution: Data Streams leverage Chainlink Automation for near-instant, decentralized onchain execution, removing centralized points of failure during settlement and mitigating the risk of adverse selection (a situation where a dApp can select a favorable price at which to settle a trade or view the latest price report prior to submitting a trade).
• Time-tested Infrastructure: Chainlink is a platform with proven robust security, hyper-reliability, and high quality data that’s been operating in production for years, helping enable over 8.5 trillion dollars in onchain transaction volume for leading DeFi applications.

“YFX is excited to integrate the industry-standard Chainlink Data Streams to unlock next-gen DeFi performance for our decentralized perpetuals exchange. With Data Streams now live on YFX, users can have greater confidence that their trades are faster, less prone to frontrunning, and underpinned by battle-tested Chainlink infrastructure.” — 0xEuler, Representative of YFX Community

About Chainlink

Chainlink is the industry-standard decentralized computing platform powering the verifiable web. Chainlink has enabled over $10 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors.

Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link.

About YFX

YFX is a leading decentralized perpetual protocol that began in 2020. After three years and four versions of iterations, YFX has transitioned to a community-based protocol. Currently, the project is co-managed by a community geek representative, 0xEuler, along with several developers from the technical community. The restructured YFX team, based on the current market demand for decentralized perpetual contracts, has launched the brand new V4 version. The design of the V4 version will greatly enhance the capital utilization rate and system fairness of the YFX protocol.