Key factors for the integration listed by the mentioned Chainlink infrastructure are sub-second price latency and great data accuracy. Two other highlighted elements in the choice were the emphasis of the protocol on transparency and decentralization and the usage of liquidity-weighted bid-ask spreads.

JOJO founder Jotaro remarked, “Chainlink Data Streams delivers ultra-low-latency bid and ask data to power the JOJO protocol, allowing us to provide an advanced UX while ensuring a robust risk framework that ultimately helps safeguard the protocol.”

William Reilly, Global Head of Strategic Partners at Chainlink Labs, said, “By leveraging industry-standard Chainlink data, JOJO can help ensure unparalleled security for liquidations on its platform,” adding that the integration would “support a seamless and ultra-fast DeFi user experience.”

Combining smart contract orders with Chainlink Data Streams allows JOJO to automatically enter positions at pre-defined prices, therefore enabling programmed and automated trading.

With up to 1,000 times leverage and matching smart contract orders off-chain to settle them on-chain for maximum efficiency, JOJO Exchange provides Additionally supported on the platform are liquid restaking tokens (LRT) and liquid staking tokens (LST) as collateral.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post JOJO Exchange Leverages Chainlink for Fast Liquidations appeared first on Coin Engineer.