Data-centric Blockchain Flare Partners with aiPX to Launch Decentralized Perpetual Exchange
Data-centric blockchain Flare has teamed up with aiPX to launch a decentralized, non-custodial perpetual exchange, leveraging Flare’s native network for collateral calculations and liquidation thresholds, underscoring the growing potential of decentralized finance in transforming traditional financial systems.
In a significant development in the blockchain space, Flare, a Layer 1 data-centric blockchain network, has announced a strategic partnership with aiPX to roll out a decentralized non-custodial perpetual exchange. aiPX is a derivative of Level Finance and an iteration of the perpetual derivatives trading protocol GMX.
The new aiPX exchange underscores its commitment to decentralization and risk management, aligning its vision with Flare’s commitment to breaking down traditional data barriers and promoting decentralization. The aim is to offer a gamut of services, including leverage trading, token swaps, and staking for protocol revenue-sharing, all underpinned by user governance.
Using Flare Time Series Oracle (FTSO) price feeds, the exchange will calculate collateral and determine liquidation thresholds, thus ensuring efficient and real-time risk management. It exemplifies the use of decentralized infrastructure in improving the efficacy and transparency of complex financial operations.
Initial liquidity pools will encompass WUSDC, WFLR, and WUSDT. The entities anticipate the addition of more liquidity pools following the launch of new bridging models on Flare and the subsequent availability of more tokens. It’s worth noting that the team behind aiPX had earlier developed another decentralized perpetual exchange named Takepile on the Fantom network.
Sonic, CEO, and Co-founder of aiPX, expressed his optimism about the partnership, stating, “Flare’s commitment to decentralization through the Flare Time Series Oracle, and to breaking down and eliminating traditional barriers to quality data via innovations like the State Connector, make building on Flare a no-brainer for us.” He also pointed out Flare’s role in accelerating the adoption of decentralized products and their shared excitement to innovate with Flare’s team.
Flare CEO and Co-founder Hugo Philion reciprocated Sonic’s sentiments: “aiPX is a very welcome addition to the growing Flare DeFi ecosystem. They are a strong development team and we share their commitment to developing products that are decentralized and non-custodial, showing just what is possible in this space – like using the decentralized FTSO for collateral thresholds and liquidation calculations.”
In leveraging Flare’s native network, aiPX aims to offer a seamless trading experience directly from users’ wallets. This significant development reinforces the growing potential of decentralized finance (DeFi) and blockchain in transforming traditional financial systems. By combining expertise and shared values, Flare and aiPX are poised to drive significant innovation in the blockchain and DeFi sectors.