Flare teams up with aiPX to launch a new decentralized non-custodial perpetual exchange

It’s been a while since we covered Flare. Back in January, the data-centric Layer 1 blockchain startup made headlines after it successfully initiated its long-awaited of over 4 billion tokens to millions of recipients. Since then, the Flare team has been busy working behind the scene on their latest effort, striving towards their next milestone. Fast forward almost six months later, and we finally have some insights into their recent activities and progress.

Today, Flare announced the launch of a decentralized non-custodial perpetual exchange in collaboration with aiPX, a fork of Level Finance, an iteration of perpetual derivatives trading protocol GMX. The launch marks a significant milestone for Flare and the blockchain community.

aiPX is an innovative perpetual decentralized exchange (DEX) that places a strong emphasis on risk management and introduces creative liquidity solutions for providers. As part of the collaboration with Flare, aiPX will leverage the Flare Time Series Oracle (FTSO) price feeds to facilitate collateral calculations and determine liquidation thresholds. This integration ensures accurate and reliable data for the exchange’s operations.

The newly launched trading protocol offered by aiPX will feature various functionalities to enhance the user experience. These include leverage trading, token swaps, staking options for protocol revenue-sharing, and user governance, allowing participants to have a say in the decision-making process.

To initiate the liquidity pools, aiPX has confirmed the inclusion of WUSDC, WFLR, and WUSDT tokens. However, as Flare launches fresh bridging models and more tokens become available, additional liquidity pools are expected to be introduced. It’s worth noting that aiPX has previously developed another decentralized perpetual exchange, Takepile, on the Fantom network, showcasing their expertise and commitment to the DeFi ecosystem.

In a statement, aiPX Co-Founder and CEO Sonic said, “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.”

“Flare highlights what’s important in pushing the adoption of decentralized products forward and we’re excited to innovate alongside their accomplished team,” Sonic added.

Flare CEO and Cofounder Hugo Philion also commented on the partnership saying, “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.”

Philion founded Flare in 2019 with his Co-Founder Sean Rowan after he left his job in 2016 to study machine learning at University College London, where he met his Rowan, and Chief Scientist, Nairi Usher.

Flare’s State Connector protocols enable information to be used securely, scalably, and trustlessly with smart contracts on Flare. This offers a powerful class of data on the network and enables more cross-chain solutions to be built.

The State Connector derives its safety from combining a decentralized set of attestors with a binary forking protocol, which allows for a malicious majority of data providers to be challenged. In contrast to a proof of stake-based system where data providers are obliged to stake value, the security of the State Connector is not limited by the amount staked in the system. This means that the State Connector is invariant in its safety relative to the size of a transaction, this offers a secure system capable of handling large amounts of value.

Founded a few years ago, aiPX is a decentralized and non-custodial perpetual decentralized exchange (DEX) that prioritizes risk management and offers inventive solutions for liquidity providers. Beyond its advanced trading capabilities for decentralized perpetual exchange, aiPX has an ambitious roadmap that encompasses additional features such as binary options and synthetics. The goal is to position the protocol as the premier decentralized suite catering to traders of various styles and skill levels.

One of aiPX’s standout features is its ability to facilitate capital-efficient hedging with minimal market impact for traders. This ensures that traders can effectively hedge their positions while avoiding significant disruptions in the market. Moreover, aiPX establishes a robust ecosystem that generates passive earnings for liquidity providers and stakers. The ecosystem is powered by the AIPX token, providing participants with a reliable and sustainable yield.

With its focus on risk management, innovative solutions, and a commitment to creating a comprehensive trading experience, aiPX aims to become the go-to platform for decentralized trading across various asset classes and trading strategies.