Lynx: Reimagining forex and crypto trading with Chainstack

Petar Stoykov

August 1, 2024 in Customer stories

Chainstack’s dependable RPC infrastructure has been vital for Lynx. Their low latency and strong uptime ensure our high-leverage trading platform runs smoothly and efficiently.
The Lynx Team

Lynx is changing the game in the decentralized perpetuals exchange space, and we at Chainstack couldn’t be more excited to share our mutual story. Offering high-leverage trading across crypto, forex, and commodities, Lynx embodies all that Web3 developers dream of—a platform that doesn’t just accommodate, but encourages, the use of any ERC-20 token as collateral. Pretty neat, right?

As a major player in the blockchain infrastructure field, our journey with Lynx has granted us valuable insights into their engineering feats and the Web3 developer community as a whole. Join us as we explore how Lynx is revolutionizing the DeFi landscape and providing exciting opportunities for liquidity providers and traders with Chainstack, all while keeping the needs of Web3 developers at the heart of their operations.

How Lynx started with Chainstack

As a company dedicated to accelerating the adoption of blockchain within global enterprises, at Chainstack, we are always inspired to see how our services facilitate the innovative operations of businesses like Lynx.

Lynx initially approached us as they were looking to upgrade their infrastructure. After conducting an extensive competitive analysis of on-chain options, particularly for the Fantom ecosystem, they were seeking a provider that offered consolidation, service improvement, and cost-effectiveness without compromising on performance. Lynx was specifically intrigued by how our offerings provide strong uptime, low latency, and competitive pricing.

Being a trading platform of perpetual nature, it was crucial for Lynx to have dependable RPC with a low latency backend service. The premium plans of other providers were coming up as cost heavy, a pinch point we at Chainstack were poised to solve.

Our standout features such as our competitive pricing, strong uptime, low latency, and robust support for a vast number of chains offered Lynx the possibility for future expansion. As the competitive analysis showed, we aligned well with Lynx’s needs. We felt confident that our robust and cost-effective services could deliver the level of reliability Lynx required to execute their real-time, always-on backend services.

From providing a seamless trading experience to supporting bots that execute crucial financial operations, our engagement with Lynx serves as a testament to our commitment towards enabling efficient and reliable blockchain solutions for businesses.

Lynx on Chainstack in numbers

With Chainstack’s assistance, Lynx runs 4 active elastic nodes, focusing primarily on the Fantom protocol. Indeed, it’s a round-the-clock job, but the numbers clearly speak for the successful synergy between Chainstack and Lynx—a whopping 30M requests.

The cherry on top? We handle all of Lynx’ requests via Chainstack Global Elastic Nodes—a testament to their exceptional performance. Now isn’t that something? Well, there’s more to come. Shall we proceed?

Beyond handling the technical intricacies of Lynx’s operations, Chainstack was also responsible for managing any potential issues that could disrupt the ease of operations for Lynx. Our proactive and responsive support meant that issues were flagged and fixed before they could snowball into major problems, thus ensuring seamless operations.

Considering the scale and complexity of the services required by Lynx, our reliable and consistent delivery has become a cornerstone of Lynx’s operations. This has not only helped Lynx expand its offerings but also become a reliable platform for its users who indulge in high-leverage trading—a niche with increasing popularity among seasoned traders and beginners alike.

And, while Lynx continues to spearhead innovative market offerings, we, at Chainstack, are proud to fuel their journey with our robust managed blockchain services.

What is Lynx?

Emerging as a stalwart within the realm of blockchain trading platforms, Lynx is a decentralized perpetuals exchange renowned for its innovative approach to high-leverage trading. What sets Lynx apart is its unique proposition, enabling any ERC-20 token to serve as collateral, thereby supercharging the value extraction from your favorite tokens.

Designed with Web3 developers in mind, Lynx paves the way for enhanced token utility without the necessity for token holders to relinquish their holdings. The implementation of omnichain liquidity pools further bolsters Lynx’s capabilities. This allows for ease of support extension to additional chains and immediate access to robust trading liquidity—a move that magnifies trading volumes and fee generation per liquidity dollar deposited.

For traders, Lynx presents a suite of tools to facilitate efficient, low-cost trading activity. These include unique features like gasless trade execution and low liquidation penalties. Meanwhile, liquidity providers enjoy the benefits of single-asset liquidity provision, limited counterparty risks, and advanced price impact modeling to mitigate price manipulation efforts.

Transformational in its nature, Lynx continually seeks to evolve and augment the benefits it delivers to its users. Keen on breaking traditional barriers and limitations, Lynx empowers token holders and creates an ecosystem ripe with opportunities for growth and expansion. Web3 developers and blockchain enthusiasts alike find in Lynx a platform geared towards the future of trading.

Working with Lynx has demonstrated Chainstack’s ability to deliver essential infrastructure for innovative trading solutions. We are proud to contribute to their success in the decentralized finance space.
Eugene Aseev, CTO & Co-Founder, Chainstack

Bringing it all together

From our perspective as infrastructure providers committed to empowering blockchain innovations, partnering with Lynx has been an enriching journey. They came to us seeking a robust solution for their advanced decentralized perpetual exchange and we are proud to have fulfilled their expectations.

Lynx’s groundbreaking approach to leverage trading has been transformative in the decentralized finance world. By enabling traders and liquidity providers to use any ERC-20 token as collateral, Lynx has revolutionized the crypto, forex, and commodities markets.

Chainstack has been crucial in facilitating and maintaining Lynx’s backend services. We are honored to have facilitated Lynx’s growth by providing a stable, secure, and scalable environment that accommodates the needs of a high-leverage trading platform.

Our collaboration underscores how the right infrastructure can propel a platform to its zenith. We are proud to be part of Lynx’s growth journey, facilitating a seamless experience for traders and liquidity providers alike, participating in the revolutionary world of high-leverage DeFi trading.

We continue to work towards enabling and nurturing such innovations embedded with profound potential. Because at Chainstack, we don’t just build for the present; we empower the future.