Dubai — Flare, the cutting-edge layer 1 blockchain specializing in data, proudly announces that SparkDEX will launch its state-of-the-art decentralized finance hub on the network. This hub will feature both an Automated Market Maker (AMM) and perpetuals protocol, utilizing Flare’s advanced data protocols for decentralized data access.
SparkDEX’s DeFi Hub is a “friendly fork” of QuickSwap, a successful decentralized exchange on Polygon, and has the backing of the QuickSwap community. It will boast a high-performance DEX and an innovative on-chain perpetuals platform allowing trades with up to 100x leverage. Future plans include the integration of advanced AI components and DeFi strategies as the SparkDEX team rolls out their ambitious roadmap.
To reward early adopters, 5% of SparkDEX's total token supply is allocated for an airdrop, with 40% earmarked for existing QuickSwap users. Additionally, Flare and SparkDEX will be featured on the QuickSwap website network selector menu.
“We are excited to partner with Flare, leveraging their top-tier data protocols to enhance our high-performance DeFi ecosystem. Flare’s robust data management infrastructure sets it apart, enabling us to drive innovation and make data-driven decisions. This synergy between cutting-edge DeFi and Flare’s data interoperability will be transformative.”
Anita Ng, BD Representative at SparkDEX
SparkDEX’s flagship offering, the V2 Perpetuals Exchange, will launch later this month. It will utilize Flare’s upgraded Time Series Oracle (FTSO) for rapid price feed updates, safeguarding against front-running and false liquidations. The platform supports up to 100x leverage and offers various order types, including a unique trailing stop loss feature.
