SparkDEX Eternal Launches: A Revolutionary Perpetual Decentralized Exchange on Flare
In an exciting development for the world of decentralized finance, SparkDEX has introduced SparkDEX Eternal, a groundbreaking perpetual decentralized exchange (Perp DEX) on the Flare network. This announcement was made public through information shared with Finbold on Thursday, December 12.
Unlocking New Trading Opportunities with SparkDEX Eternal
With the launch of SparkDEX Eternal, traders can now seamlessly integrate perpetual contracts into their trading strategies. This innovative platform allows access to a wide range of assets without requiring ownership of the underlying instruments, thereby providing a flexible and efficient trading experience.
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Fast and Reliable Decentralized Data with Flare’s FTSO
The Flare Time Series Oracle (FTSO) plays a pivotal role in delivering fast and accurate decentralized data, essential for the effective trading of perpetual contracts. According to Steve, the founder of SparkDEX:
“The FTSO’s rapid 1.8-second price feed updates ensure precise and reliable funding rate calculations and a trustworthy liquidation engine for SparkDEX Eternal. This unparalleled speed and accuracy make FTSO the ideal decentralized oracle solution for our platform, delivering a high-performance experience for margin traders.”
In addition, Dhruv Shah, a Flare DeFi analyst, emphasized the significance of perpetual contracts in the blockchain industry:
“Perps are not only one of the most traded derivatives in the space; they’re also among the main drivers of oracle usage in the blockchain industry. With SparkDEX Eternal and future perps DEXs, the demand for Flare’s data offerings will continue to grow and become more apparent.”
Comprehensive Trading Features and DeFi Tools
SparkDEX Eternal supports leveraged positions in FLR and other cryptocurrencies, with plans to expand into commodities and forex markets. The platform offers advanced features such as automated conditional orders, customizable open interest, and cross-chain-sourced liquidity. Moreover, participants can earn rFLR rewards through the Flare DeFi Emissions Program, enhancing the trading ecosystem’s appeal.
Empowering Traders with Perpetual Contracts and DeFi Strategies
The FTSO infrastructure ensures the swift and accurate delivery of data for funding rates and liquidation processes, managing up to 1,000 price feeds across various assets. This robust system empowers traders to explore diverse DeFi strategies within the Flare ecosystem.
Perpetual contracts offer traders the flexibility to maintain positions indefinitely, provided they meet margin requirements. This environment facilitates short-selling, leveraging, and hedging strategies, significantly enhancing trading versatility and potential profitability.
With these advancements, SparkDEX aims to increase liquidity and encourage greater engagement within the trading and liquidity-providing communities, thereby fostering a more vibrant DeFi ecosystem.
