SparkDEX has announced the launch of SparkDEX Eternal, an eternal decentralized exchange built on the Flare blockchain.
According to a note shared by crypto.news, the platform includes perpetual contracts, allowing traders to hold leveraged positions indefinitely without owning the basic assets.
The exchange allows users to open leveraged positions on it Flare (FLR) and other cryptocurrencies, with plans to expand into commodity and forex markets. Traders can manage their positions using automated conditional orders while accessing liquidity provided by multiple chains. Additionally, participants can earn rewards through the Flare DeFi Distribution Program.
Oracle time series Flare
SparkDEX is Eternal support with the Flare Time Series Oracle, which provides decentralized and frequent price updates. FTSO's 1.8-second price feed updates ensure reliable funding rate calculations and efficient liquidation processes, critical components of margin trading.
Unlike regular futures contracts, perpetual contracts do not have expiration dates. Instead, they use a funding level mechanism to align prices with the spot market, allowing traders to implement strategies such as hedging, leverage and short selling.
According to the statement, SparkDEX has already recorded more than $409 million in trading volume. The addition of permanent contracts aims to provide more trading opportunities while supporting Flare's decentralized financial ecosystem.
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