Flare Network (a Layer-1 Blockchain known for its powerful data management abilities) has announced that SparkDEX’s decentralized exchange platforms (DEXs) V2/V3 and perpetuals have been deployed on the chain compatible with Ethereum Virtual Machines (EVMs).
The move is a major milestone for decentralized finance, integrating advanced trading tools and data aggregation into Flare’s Platform.
De Fi traders have a new market to explore
SparkDEX DeFi Hub is a trading platform that offers a seamless and integrated experience for novices as well as experienced traders. The SparkDEX DeFi Hub features SparkDEX DEXs V2/V3, combining high-performance DEXs with a perpetuals on-chain platform.
The hub was designed to meet the diverse needs of traders, offering everything from simple trading functionality to sophisticated strategies enabled by AI.
SparkDEX chose this platform because of Flare’s unique data management approach. Flare is the preferred blockchain platform for DeFi because of its data management and real-time feeds. This allows data-driven decisions and innovative DeFi solution.
SparkDEX uses Flare to provide trading efficiency.
Data feeds in real time optimize every transaction.
What are your flagship products?
SparkDEX V3 Dex and SparkDEX V2 Perpetual exchange are the two components of SparkDEX DeFi Hub that provide high liquidity, competitive trading incentives, and a highly liquid market.
SparkDEX DEX V3: Offers attractive liquidity incentives, a revenue sharing model and facilitates trading popular crypto pairs. Platform’s liquidity management provides deep pools with competitive spreads.
SparkDEX Perpetual exchange V2: It supports up to 100x leverage for digital assets, and aggregates the major Perps Dexs on 12 Blockchains. The platform features innovative tools such as trailing stop losses and yield generation efficiency for liquidity providers.
SparkDEX V2 Perpetual exchange is a unique platform that allows you to trade across different blockchains.
Multichain abstracts from the complexity of bridge assets and allows users to place orders without having to leave their network.
Future plans and enhanced yield potential
SparkDEX DeFi Hub currently offers the best rewards in the industry through its wFLR/sFLR, and wFLR/USDX liquid pools. These liquidity pools are powered by Flare’s DeFi emission program. These liquidity pools aim to increase the amount of DeFi emissions on Flare by attracting significant inflows.
SparkDEX is planning to add more yield-generating pools in the future, thereby increasing opportunities for liquidity providers.
SparkDEX’s forward-looking strategy ensures it remains on the cutting edge of DeFi innovations, and is constantly evolving to meet its users’ needs.
Impact on the community and industry
Hugo Philion, Flare Cofounder expressed his excitement over the launch and highlighted the positive impact it will have on Flare’s DeFi eco-system.
SparkDEX’s launch is a major milestone for Flare DeFi ecosystem, especially after the community approved the DeFi emission program and LayerZero V2 integration. The significant inflows of liquidity into their pools will help accelerate Flare’s DeFi growth. Their perps-dex launch is sure to be exciting.
The post Flare and SparkDEX reveal next-generation DeFi Hub on advanced Layer-1 Chain EVM may be updated as new information becomes available.
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