DeFi

Steve

Flare

The first perpetual&nbsp;decentralized exchange (Perp DEX) on <a href="https://flare.network/" target="_blank" rel="noreferrer noopener nofollow">Flare</a>, SparkDEX Eternal, has officially launched, according to SparkDEX. Flare users may now use perpetual contracts into their trading strategies thanks to this innovation. 
Without having to purchase the underlying instruments, <a href="https://sparkdex.ai/" target="_blank" rel="noreferrer noopener nofollow">SparkDEX Eternal</a> gives traders and liquidity providers the chance to manage&nbsp;their exposure across a variety of assets. The supply of extremely precise and decentralized data required for perps trading on SparkDEX Eternal is made possible by Flare’s Flare Time Series Oracle (FTSO). 
SparkDEX Founder Steve said: 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “The FTSO’s rapid 1.8-second price feed updates ensure precise and reliable funding rate calculations and a trustworthy liquidation engine for SparkDEX Eternal. This unparalleled speed and accuracy make FTSO the ideal decentralized oracle solution for our platform, delivering a high-performance experience for margin traders.” 
</blockquote> 
Flare DeFi Analyst Dhruv Shah added: 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “Perps are not only one of the most traded derivatives in the space; they’re also among the main drivers of oracle usage in the blockchain industry. With SparkDEX Eternal and future perps DEXs, the demand for Flare’s data offerings will continue to grow and become more apparent.” 
</blockquote> 
With top commodities and FX on the horizon, SparkDEX Eternal provides the option to establish leveraged trades on FLR and other well-known cryptocurrencies. Users may obtain liquidity from several chains for dependable trade execution, maintain&nbsp;configurable open interest, and manage their positions&nbsp;via automated conditional orders. Through the <a href="https://flare.network/new-flare-defi-emissions-program-provides-industry-leading-yields/" target="_blank" rel="noreferrer noopener nofollow">Flare DeFi Emissions Program</a>, SparkDEX users may be eligible for rFLR rewards&nbsp;in addition to opening up new trading&nbsp;opportunities. 
In order to manage funding&nbsp;rates and assist the liquidation engine, the FTSO is essential to ensure that data is provided quickly and accurately. With the capacity to process up to 1,000 price feeds, the system is built to support a wide variety of assets, such as well-known cryptocurrencies, top commodities, and forex&nbsp;currencies. This enables traders to use a variety of tactics inside the Flare DeFi ecosystem, including risk management and hedging. 
Perpetual contracts enable traders to retain positions eternally as long as the margin conditions are satisfied. These contracts use a funding rate mechanism to keep prices in line with the underlying spot market and, in contrast to conventional futures, have no expiry date. As a result, traders may use hedging, leverage, and short selling tactics in a dynamic and adaptable environment. 
SparkDEX Eternal will contribute to deepening liquidity and promoting wider participation among advanced&nbsp;traders and liquidity providers by bringing one of the most frequently traded financial derivatives to the Flare ecosystem. Flare is establishing itself as a network that can support complex data-driven DeFi applications as groups and people realize the benefits of using an enshrined&nbsp;oracle such as FTSO. 
SparkDEX Eternal is a perpetual exchange that provides exposure to in-demand commodities and FX market currencies, and it facilitates leverage of up to 100x on cryptocurrency assets. With ultra-competitive liquidity incentives, a generous revenue-sharing model, and full V3 active liquidity management, it unites the most sought-after crypto-asset trading pairings. Over $409 million in trading&nbsp;activity has been handled by SparkDEX since its launch, and it is continually adding new users to the Flare ecosystem. 
Visit <a href="https://sparkdex.ai/" target="_blank" rel="noreferrer noopener nofollow">https://sparkdex.ai/</a> to find out more.

SparkDEX Eternal Launches as Flare’s First Perpetual DEX

TheNewsCrypto

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