Collaboration between Flare and aiPX Results in Launch of Decentralized Perpetual Exchange
Flare, recognized for its innovative data-oriented Layer 1 blockchain, has teamed up with aiPX to create an advanced decentralized non-custodial perpetual exchange. aiPX, which draws inspiration from Level Finance and GMX, aims to prioritize risk management while offering fresh liquidity solutions.
This new trading protocol is set to feature various tools such as leverage trading, token swaps, staking that allows users to share in protocol revenues, and governance by the community. To ensure precise calculations for collateral and liquidation thresholds, the Flare Time Series Oracle (FTSO) will be utilized to provide reliable price feeds.
The exchange will initially feature liquidity pools with tokens like WUSDC, WFLR, and WUSDT, and there are intentions to broaden the selection of supported tokens as new bridging models become available on the Flare network. The aiPX team previously launched Takepile, a decentralized perpetual exchange on the Fantom network.
Sonic, the CEO and co-founder of aiPX, shared his excitement for leveraging the Flare network, commenting, \"Flare’s dedication to decentralization through the Flare Time Series Oracle, along with their unique strategy for data integrity with the State Connector, makes them an ideal partner for us. Flare epitomizes the essential components required for the successful adoption of decentralized products, and we’re thrilled to join forces with their talented team.\"
Hugo Philion, the CEO and co-founder of Flare, supported Sonic’s perspective, highlighting the importance of aiPX's contribution to the growing Flare DeFi ecosystem. He noted, \"They possess a strong development team, and our shared vision of creating decentralized and non-custodial solutions is exciting. Utilizing the decentralized FTSO for crucial collateral and liquidation assessments demonstrates all the potential in this industry.\"
With the strengths of Flare's native infrastructure, aiPX is committed to delivering a smooth trading experience that can be accessed directly from users' wallets. This collaboration marks a significant milestone in the realm of decentralized finance, promising more accessibility and innovative solutions for perpetual trading.
About aiPX
aiPX is characterized as a decentralized, non-custodial perpetual DEX that emphasizes robust risk management and creative solutions for liquidity provision. It has an ambitious roadmap that includes plans for binary options and synthetic assets, aiming to create a comprehensive decentralized suite appealing to traders of all styles and expertise levels, alongside offering state-of-the-art trading options for perpetuals. The AIPX token fosters a real yield ecosystem, empowering traders with efficient capital hedging and minimal market disruption while providing liquidity providers and stakers with opportunities for passive income.
About Flare
Flare is recognized as the premier data blockchain, the only Layer 1 designed to offer developers scalable information access in a decentralized manner. Being EVM-compatible, Flare incorporates data acquisition protocols directly into the blockchain framework, ensuring affordable and scalable access to an extensive array of high-quality data. The State Connector facilitates secure, scalable, and trustless exchanges of data from various blockchains and the internet, making it accessible within Flare's smart contracts. Meanwhile, the Flare Time Series Oracle delivers highly decentralized data and price feeds to Flare dapps, thereby removing reliance on centralized providers.
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