SparkDEX is a platform that integrates a DEX protocol and on-chain perpetuals to enable trades with up to 100x leverage. The project aims to incorporate an artificial intelligence (AI) component and other DeFi strategies as it gains traction in the market. Additionally, the deployment is expected to benefit the Flare DeFi ecosystem.
Following the approval of the new Flare DeFi emissions program, and the integration of LayerZero V2, the launch of SparkDEX represents a significant milestone in the rapid advancement of Flare’s DeFi ecosystem. Co-founder Hugo Philion expressed excitement about the launch of their perps DEX, stating it as “particularly exciting” for the ecosystem. The technology behind SparkDEX allows for real-time price feed updates, which offer protection against front running and false liquidations.
With support for up to 100x leverage, the V2 perps exchange also supports various order types, including the trailing stop loss. Initially, the DEX will provide access to digital assets, with plans to later expand to include commodities and forex. As part of the integration, SparkDEX will offer an airdrop to reward early participants from the community, with 5% of the SparkDEX supply earmarked for this purpose.
The airdrop allocation will provide 40% to current QuickSwap (QUICK) holders, with 50% going to QUICK stakers, and 50% to the QuickSwap Foundation.