SparkDEX has launched SparkDEX Eternal, a groundbreaking perpetual decentralized exchange (Perp DEX) on the Flare network. This innovative platform introduces a new layer of trading possibilities for Flare users, allowing them to engage in perpetual contracts across a variety of assets without the need for owning the underlying assets.
The platform aims to enhance decentralized trading strategies, making it easier for traders to manage their exposure and implement complex financial strategies such as leverage, short selling, and risk management.
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The Power of Flare's Time Series Oracle (FTSO)
Central to SparkDEX Eternal's functionality is Flare’s Flare Time Series Oracle (FTSO), which provides fast, decentralized data crucial for calculating funding rates and ensuring the smooth execution of liquidations. With price feeds updating every 1.8 seconds, the FTSO ensures the platform remains highly accurate and reliable.
As Flare DeFi Analyst Dhruv Shah pointed out:
“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 industryWith SparkDEX Eternal and future perps DEXs, the demand for Flare’s data offerings will continue to grow and become more apparent.”
Dhruv Shah, Flare DeFi Analyst
Expanding Trading Opportunities with Leverage and Diverse Assets
SparkDEX Eternal offers Flare users the opportunity to open leveraged positions on a broad range of assets, including FLR, popular cryptocurrencies, commodities, and forex. Traders can use automated conditional orders and access liquidity sourced from multiple chains to ensure smooth execution of their trades. Additionally, users of SparkDEX Eternal may be eligible for rewards through the Flare DeFi Emissions Program, further enhancing the platform's appeal to active traders.
The FTSO is crucial for enabling these features by providing accurate and real-time data for up to 1,000 price feeds, covering assets from across the crypto, commodity, and forex markets. This enables traders to not only engage in speculative trading but also implement more complex strategies such as hedging and diversified risk management across the Flare DeFi ecosystem.
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What Sets Perpetual Contracts Apart?
Unlike traditional futures contracts, perpetual contracts allow traders to hold positions indefinitely, as long as margin requirements are met. There is no expiration date on these contracts, and a funding rate mechanism ensures that prices stay aligned with the underlying spot market. This flexibility creates an adaptable trading environment where strategies can evolve in real-time, making it ideal for both seasoned and advanced traders.
By bringing perpetual contracts to Flare, SparkDEX Eternal is not only offering an attractive new trading tool but also driving deeper liquidity into the Flare ecosystem. The platform's innovative features, such as V3 active liquidity management and competitive revenue-sharing models, are set to attract both experienced traders and liquidity providers, expanding Flare’s footprint in the decentralized finance (DeFi) space.
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As more traders realize the advantages of utilizing a decentralized oracle like FTSO, Flare is positioning itself as a platform capable of supporting increasingly sophisticated, data-intensive DeFi applications. With the introduction of SparkDEX Eternal, the ecosystem stands to gain from a more diverse, engaged, and liquidity-rich community
Learn more about SparkDEX Eternal: sparkdex.ai
