SparkDEX Launches Perpetual Decentralized Exchange on Flare Blockchain

SparkDEX has announced the launch of SparkDEX Eternal, a perpetual decentralized exchange built on the Flare blockchain. This innovative platform introduces perpetual contracts, allowing traders to hold leveraged positions indefinitely without owning the underlying assets.

Key Features of SparkDEX Eternal

SparkDEX Eternal enables users to open leveraged positions on Flare (FLR) and other cryptocurrencies, with plans to expand into commodities and forex markets in the future. Traders can manage their positions using automated conditional orders while accessing liquidity sourced from multiple chains. Additionally, participants can earn rewards through the Flare DeFi Emissions Program.

The platform is powered by the Flare Time Series Oracle (FTSO), which provides decentralized and frequent price updates. FTSO’s 1.8-second price feed updates ensure reliable funding rate calculations and efficient liquidation processes, critical components for margin trading.

Perpetual Contracts Explained

Unlike regular futures contracts, perpetual contracts do not have expiration dates. Instead, they employ a funding rate mechanism to align prices with the underlying spot market. This allows traders to implement strategies such as:

  • Hedging
  • Leverage
  • Short selling

According to SparkDEX, the platform has already recorded over $409 million in trading volume. The addition of perpetual contracts aims to provide more trading opportunities while supporting Flare’s decentralized finance ecosystem.

SparkDEX Eternal is poised to revolutionize the way traders interact with the Flare blockchain, offering a new level of flexibility and opportunity in the decentralized finance space.

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