Flare and aiPX Collaborate to Launch Decentralized Perpetual Exchange
Flare, a data-centric Layer 1 blockchain, has joined forces with aiPX to introduce a new decentralized non-custodial perpetual exchange on the Flare network. aiPX, a derivative of Level Finance and GMX, brings a focus on risk management and innovative liquidity solutions to the table.
This novel trading protocol offers a range of features, including leverage trading, token swaps, staking for protocol revenue-share, and user governance. To ensure accurate collateral calculations and liquidation thresholds, aiPX will utilize the Flare Time Series Oracle (FTSO) price feeds.
The initial liquidity pools on the exchange will feature WUSDC, WFLR, and WUSDT, with plans to expand the range of tokens as fresh bridging models are introduced on the Flare network. The development team behind aiPX has previously launched Takepile, a decentralized perpetual exchange on the Fantom network.
Sonic, CEO and Cofounder of aiPX, expressed enthusiasm for building on the Flare network, stating, “Flare’s commitment to decentralization through the Flare Time Series Oracle and their innovative approach to data quality with the State Connector make it an obvious choice for us. Flare exemplifies the key factors in driving the adoption of decentralized products, and we are thrilled to collaborate with their accomplished team.”
Hugo Philion, CEO and Cofounder of Flare, echoed Sonic’s sentiments, emphasizing the significance of aiPX’s addition to the expanding Flare DeFi ecosystem. Philion stated, “They bring a strong development team, and we share their vision of creating decentralized and non-custodial products. Leveraging the decentralized FTSO for collateral thresholds and liquidation calculations showcases the possibilities within this space.”
By harnessing the capabilities of Flare’s native network, aiPX aims to provide users with a seamless trading experience directly from their wallets. This partnership between Flare and aiPX represents a notable advancement in the decentralized finance landscape, offering users greater accessibility and innovative solutions for perpetual trading.
About aiPX
aiPX is a decentralized, non-custodial perpetual DEX that focuses on risk management and innovative liquidity provider solutions. aiPX has a robust roadmap, including binary options and synthetics, that aims to establish the protocol as the go-to decentralized suite for traders of all styles and skill levels, in addition to providing a cutting-edge trading solution for decentralized perpetuals. With a robust, real yield ecosystem enabled by the AIPX token, aiPX enables capital-efficient hedging with near-zero market impact for traders while providing passive earnings to liquidity providers and stakers.
About Flare
Flare is the data blockchain: the only Layer 1 focused on providing developers with information at scale in a decentralized fashion. Flare is EVM-based and has data acquisition protocols built into the blockchain rather than on top of it, allowing it to provide low-cost and highly scalable access to a broader range of high-quality data. The State Connector in Flare allows information from other blockchains and the internet to be used securely, scalably, and trustlessly with Flare smart contracts. The Flare Time Series Oracle provides highly decentralized price and data feeds to Flare dapps, eliminating the need for centralized providers.
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About The Author
Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
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Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
