Flare Network, a layer-1 blockchain for data platform, partners with non-custodial decentralized exchange aiPX to launch a perpetual DEX on its blockchain. The partnership aims to bring a non-custodial perpetual exchange to Flare, offering users a cutting-edge trading solution for decentralized perpetuals. The initial liquidity pools on the exchange will be wrapped tokens, including WUSDC, WFLR and WUSDT.
According to the team statement, the partnership with aiPX brings its prowess in offering functional risk management and innovative liquidity solutions to Flare, with Flare providing real-time price feeds for collateral calculations and liquidation thresholds via its Flare Time Series Oracle (FTSO). Additionally, the new perpetual DEX will also offer users high-leverage trading, token swaps, staking services, and a decentralized governance system.
Speaking on the partnership with aiPX, Flare CEO and Cofounder Hugo Philion welcomed the non-custodial exchange to the Flare ecosystem stating plans to grow the decentralized ecosystem further.
“aiPX is a very welcome addition to the growing Flare DeFi ecosystem,” Philion said. “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.”
aiPX is a cutting-edge trading solution focusing on risk management and innovative liquidity solutions for its users. The DEX currently offers decentralized perpetual contracts or futures, intending to launch other financial products, such as binary options and synthetics, in the near future.
Additionally, the exchange enables capital-efficient hedging with near-zero market impact for traders while providing passive earnings to liquidity providers. Stakers on the platform also earn a yield on their ‘savings’ via the $AIPX token. The goal of aiPX is to offer a robust go-to solution for all users looking for decentralized financial products, as Sonic, CEO and co-founder of aiPX, said following the partnership with Flare.
“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,” said Sonic. “Flare highlights what’s important in pushing the adoption of decentralized products forward, and we’re excited to innovate alongside their accomplished team.”
According to the aiPX team, the newly-launched exchange will add more liquidity pairs and tokens as and when fresh bridging models are launched on the Flare network.
The partnership follows the recent launch of auto-claiming rewards on Flare, announced in May. With auto-claiming activated, FTSO Delegation Rewards and FlareDrop Distributions can be claimed in an automated manner immediately after becoming available.