SparkDEX, a friendly fork of the QuickSwap decentralized exchange (DEX), is set to launch its DeFi Hub on the Flare blockchain. This hub will feature an automated market maker (AMM) and a perpetuals protocol, leveraging Flare’s data protocols for decentralized data access.

In a recent announcement, Flare revealed that SparkDEX will utilize its data-focused layer 1 blockchain. SparkDEX aims to integrate a DEX protocol and on-chain perpetuals, allowing trades with up to 100x leverage. Future plans include adding artificial intelligence (AI) components and other DeFi strategies as the project gains market traction.

The deployment of SparkDEX is expected to significantly benefit the Flare DeFi ecosystem. This integration follows Flare’s recent incorporation of LayerZero V2.

“After the recent community approval of the new Flare DeFi emissions program and the integration of LayerZero V2, the launch of SparkDEX is another milestone in the rapid advancement of Flare’s DeFi ecosystem. We look forward to seeing significant liquidity inflows into their pools and how that will accelerate the growth of DeFi on Flare. The launch of their perps DEX is going to be particularly exciting,” said Hugo Philion, co-founder of Flare.

Perps Protocol First to Launch

SparkDEX’s V2 Perpetuals Exchange is set to launch later in July. This exchange will leverage the Flare Time Series Oracle (FTSO), enabling real-time updates of price feeds and providing protection against front-running and false liquidations.

The V2 perps exchange supports up to 100x leverage and various order types, including trailing stop loss. Initially, the DEX will offer access to digital assets, with plans to expand to commodities and forex in the future.

Community Engagement and Rewards

As part of the integration, SparkDEX will conduct an airdrop to reward early participants, allocating 5% of SparkDEX supply for this purpose. Current QuickSwap (QUICK) holders will receive 40% of the allocation, with 50% going to QUICK stakers and the remaining 50% to the QuickSwap Foundation.

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