SparkDEX Eternal Brings Perpetual Trading to Flare Blockchain

SparkDEX Eternal debuts perpetual trading with decentralized innovation

SparkDEX has unveiled SparkDEX Eternal, the first perpetual decentralized exchange (Perp DEX) on the Flare blockchain. The platform allows traders to manage positions in popular cryptocurrencies, commodities, and forex markets with up to 100x leverage, without requiring ownership of the underlying assets.

Perpetual contracts differ from standard futures by having no expiration date and employing a funding rate mechanism to align prices with the spot market. This flexibility allows traders to implement strategies such as short selling, hedging, and leveraging, making perpetual contracts a cornerstone of advanced financial derivatives markets.

SparkDEX Eternal is LIVE ON @FlareNetworks! ???? pic.twitter.com/wZb8lNZ2vE — SparkDEX (@SparkDexAI) December 11, 2024

“The FTSO's rapid 1.8-second price feed updates ensure precise and reliable funding rate calculations and a trustworthy liquidation engine for SparkDEX Eternal. This unparalleled speed and accuracy make FTSO the ideal decentralized oracle solution for our platform, delivering a high-performance experience for margin traders.”
—Steve, SparkDEX Founder

SparkDEX Eternal builds on this foundation by introducing features like multi-chain liquidity aggregation and advanced automated order management to empower traders and liquidity providers.

“Perps are not only one of the most traded derivatives in the space; they’re also among the main drivers of oracle usage in the blockchain industryWith SparkDEX Eternal and future perps DEXs, the demand for Flare’s data offerings will continue to grow and become more apparent.”
—Dhruv Shah, Flare DeFi Analyst

Advanced features for diverse trading strategies

SparkDEX Eternal supports a range of advanced trading functionalities. Users can manage their exposure through customizable conditional orders and automated open interest controls. The platform aggregates liquidity across 12 chains, ensuring reliable trade execution for its users.

Leveraged positions can currently be opened on FLR and other popular crypto assets like USDT, with commodities and forex markets set to be included. Participants in the platform may also qualify for rFLR rewards through the Flare DeFi Emissions Program, further incentivizing activity within the ecosystem.

Building on earlier milestones like Flare’s innovative DeFi initiatives, SparkDEX Eternal takes decentralized derivatives trading a step further, combining high-speed data processing with broad asset support to serve a growing community of advanced traders.

The FTSO’s ability to handle up to 1,000 price feeds ensures support for a diverse range of assets, enabling strategies such as risk management and diversification. This robust infrastructure positions SparkDEX Eternal as a key driver of liquidity and participation in the Flare DeFi ecosystem.

The bottom line

With SparkDEX Eternal, Flare users gain access to one of the most actively traded financial derivatives in blockchain—perpetual contracts. Backed by Flare’s high-speed, decentralized data infrastructure, and expanding upon Flare’s previous innovations in DeFi, SparkDEX Eternal provides advanced tools for traders and liquidity providers while reinforcing Flare’s standing as a hub for innovative, data-driven DeFi solutions.