June 27, 2023 —Flare, a data-centric Layer 1 blockchain has collaborated with aiPX to launch a decentralized non-custodial perpetual exchange. aiPX is a fork of Level Finance, an iteration of perpetual derivatives trading protocol GMX.
aiPX is a perpetual DEX with a focus on risk management and innovative solutions for liquidity providers. The company will utilize Flare Time Series Oracle (FTSO) price feeds for collateral calculations and liquidation thresholds. The new trading protocol will also offer users leverage trading, token swaps, staking for protocol revenue-share, and user governance.
Initial liquidity pools will include WUSDC, WFLR and WUSDT, with more expected to be confirmed after fresh bridging models are launched on Flare and more tokens become available. aiPX earlier created another decentralized perpetual exchange, Takepile, on the Fantom network.
"Flare's 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 what's important in pushing the adoption of decentralized products forward and we're excited to innovate alongside their accomplished team."
Flare CEO and Cofounder Hugo Philion said "aiPX is a very welcome addition to the growing Flare DeFi ecosystem. 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 – like using the decentralized FTSO for collateral thresholds and liquidation calculations."
aiPX aims to foster a seamless trading experience directly from users' wallets by leveraging the power of Flare's native network,.
aiPX is a decentralized, non-custodial perpetual DEX with a focus on risk management and innovative solutions for liquidity providers. As well as providing a cutting-edge trading solution for decentralized perpetuals, aiPX has a robust roadmap, including binary options and synthetics, that aims to establish the protocol as the go-to decentralized suite for traders of all styles and skill levels. aiPX enables capital-efficient hedging with near-zero market impact for traders, while providing passive earnings to liquidity providers and stakers with a robust, real yield ecosystem enabled by the AIPX token.
Flare is the blockchain for data: the only Layer 1 focused on providing developers with information at scale in a decentralized manner. Flare is EVM based and has data acquisition protocols built into the blockchain rather than on top of it, so it can offer inexpensive and highly scalable access to more types of quality data. Flare's State Connector enables information from other blockchains and the internet to be used securely, scalably and trustlessly with smart contracts on Flare. The Flare Time Series Oracle delivers highly-decentralized price and data feeds to dapps on Flare, without relying on centralized providers.
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