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Flare Network, a data-centric layer 1 blockchain, announced its partnership with aiPX Finance to launch a decentralized non-custodial perpetual exchange on the blockchain. The DEX allows traders to deposit their assets into smart contracts, eliminating the need for a third party to enhance direct trading. Following the launch, users on Flare can leverage their trade positions by up to 30x, enhancing the liquidity provision for users.

aiPX Finance is a fork of Level Finance, an iteration of the perpetual derivatives trading protocol GMX. The latest partnership with Flare aims at broadening decentralized trading on the blockchain. According to its website, aiPX provides a cutting-edge platform focusing on risk management and innovative solutions for liquidity providers.

The exchange will benefit from the Flare Time Series Oracle (FTSO), which delivers highly-decentralized price and data feeds to Dapps on Flare without relying on centralized providers. The data feeds will be used to calculate collateral calculations and liquidation thresholds.

Flares 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, CEO and Cofounder of aiPX. Flare highlights whats important in pushing the adoption of decentralized products forward, and were excited to innovate alongside their accomplished team.

At first, the blockchain-powered exchange will introduce three decentralized liquidity pools WUSDC, WFLR, and WUSDT with a roadmap to incorporate additional pools and token pairs as time progresses. Beyond facilitating perpetual derivatives, the platform will empower users with blockchain-enabled leverage trading, seamless token swaps, staking opportunities for protocol revenue participation, and inclusive user governance.

aiPX is a very welcome addition to the growing Flare DeFi ecosystem, Flare CEO and Cofounder Hugo 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.

Having previously launched the Takepile DEX on the Fantom network, the latest move on Flare aims to foster a seamless trading experience directly from users wallets, the team statement concludes.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basics opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Layer 1 Blockchain Flare Introduces Perpetual Contracts In ... - The Crypto Basic