Key takeaways
- Flare and aiPX partner to launch a decentralized perpetual exchange on Flare’s data-centric Layer 1 blockchain.
- aiPX will use Flare’s decentralized oracle and state connector to offer users leverage trading, token swaps, staking and governance with decentralized price feeds and data access.
- Flare welcomes aiPX as a strong development team and a valuable addition to its DeFi ecosystem, sharing a vision of decentralization and innovation.
Flare and aiPX have joined forces to launch a decentralized perpetual exchange. aiPX will use Flare’s decentralized oracle and state connector to offer users leverage trading, token swaps, staking and governance Flare, a data-centric Layer 1 blockchain, has announced a partnership with aiPX, a fork of Level Finance, to launch a decentralized non-custodial perpetual exchange on its network. aiPX is a perpetual DEX that aims to provide risk management and innovative solutions for liquidity providers.
The new trading protocol will leverage Flare’s native network features, such as the Flare Time Series Oracle (FTSO) and the State Connector. The FTSO will provide decentralized price feeds for collateral calculations and liquidation thresholds, while the State Connector will enable secure and scalable access to data from other blockchains and the internet.
Users of aiPX will be able to trade with leverage, swap tokens, stake for protocol revenue-share, and participate in user governance. The initial liquidity pools will include WUSDC, WFLR and WUSDT, with more to be added as more tokens become available on Flare through bridging models.
The team behind aiPX has previous experience in developing decentralized perpetual exchanges, having created Takepile on the Fantom network. Sonic, CEO and Cofounder of aiPX, said that Flare’s commitment to decentralization and data quality made it an ideal platform for their project.
“Flare highlights what’s important in pushing the adoption of decentralized products forward and we’re excited to innovate alongside their accomplished team,” he said.
Flare welcomes aiPX as a strong development team and a valuable addition to its DeFi ecosystem
Flare CEO and Cofounder Hugo Philion praised aiPX as a very welcome addition to the growing Flare DeFi ecosystem. He said that they share a common vision of developing products that are decentralized and non-custodial, showing the potential of the space.
“aiPX is a very 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,” he said.
By leveraging the power of Flare’s native network, aiPX aims to foster a seamless trading experience directly from users’ wallets. The protocol also has a robust roadmap, including binary options and synthetics, that aims to establish it as the go-to decentralized suite for traders of all styles and skill levels. aiPX enables capital-efficient hedging with near-zero market impact for traders while providing passive earnings to liquidity providers and stakers with a real yield ecosystem enabled by the AIPX token.
Wrapping up
The partnership between Flare and aiPX is a significant milestone for the development of decentralized perpetual exchanges, as it showcases the power and potential of Flare’s data-centric Layer 1 blockchain. By using Flare’s decentralized oracle and state connector, aiPX will be able to offer users a seamless and secure trading experience with access to quality data and price feeds.
Flare and aiPX share a common vision of decentralization and innovation, and aim to push the adoption of decentralized products forward. With a robust roadmap and a strong development team, aiPX hopes to establish itself as the go-to decentralized suite for traders of all styles and skill levels, while providing passive earnings to liquidity providers and stakers. Flare welcomes aiPX as a valuable addition to its DeFi ecosystem, and looks forward to collaborating with them on future projects.
Source: https://coincodex.com/article/29287/layer-1-blockchain-flare-partners-with-aipx-to-launch-a-decentralized-non-custodial-perpetual-exchange/