Hassan Maishera
Data-centric Layer 1 blockchain Flare has announced its partnership with aiPX. In a press release shared with Cryptowisse,r Flare said the partnership will lead to the launch of a decentralized non-custodial perpetual exchange on the network. aiPX is a fork of Level Finance, an iteration of the perpetual derivatives trading protocol GMX.
aiPX is set to leverage Flare Time Series Oracle (FTSO) price feeds for collateral calculations and liquidation thresholds. The new trading protocol will also offer users leverage trading, token swaps, staking for protocol revenue share, and user governance.
Upon launch, WUSDC, WFLR and WUSDT would be the supported liquidity pools, with more expected to be confirmed after fresh bridging models are launched on Flare, and more tokens become available.
While commenting on this latest development, Sonic, CEO and Cofounder of aiPX, stated that;
“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. Flare highlights what’s important in pushing the adoption of decentralized products forward, and we’re excited to innovate alongside their accomplished team.”
Flare CEO and Cofounder Hugo Philion also commented that;
“aiPX is a very welcome addition to the growing Flare DeFi ecosystem. 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 set to foster a seamless trading experience directly from users’ wallets thanks to the power of the Flare network.
aiPX is a decentralized, non-custodial perpetual DEX with a focus on risk management and innovative solutions for liquidity providers. 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.
Meanwhile, Flare is the blockchain for data: the only Layer 1 focused on providing developers with information at scale in a decentralized manner. Flare is EVM based and has data acquisition protocols built into the blockchain rather than on top of it, so it can offer inexpensive and highly scalable access to more types of quality data.
