The DeFi derivatives market holds immense potential for value creation in Web3, with traditional derivatives markets valued at over $1 quadrillion. Chainlink aims to secure this market by developing ultra low-latency pull-based price oracles to overcome technical challenges like data latency, freshness, and privacy, which are critical for on-chain derivative platforms. These platforms rely on hybrid smart contracts that integrate blockchain logic with off-chain oracle data for accurate market data retrieval. Chainlink's new oracle solution, anticipated by year-end, promises ultra-low latency, frontrunning mitigation, and gas efficiency by generating oracle reports per block, which users can retrieve off-chain and validate on-chain. This approach reduces latency, increases data privacy, and enhances gas efficiency, while maintaining security and reliability. Leveraging high-speed data providers and Chainlink Decentralized Oracle Networks, this solution aims to address risks like Maximal Extractable Value (MEV) and improve DeFi derivatives protocols, ultimately broadening Web3's appeal and security.