SparkDEX has announced the launch of SparkDEX Eternal, a perpetual decentralized exchange built on the Flare blockchain. According to a note shared with crypto.news, the platform introduces perpetual contracts, enabling traders to hold leveraged positions indefinitely without owning the underlying assets. The exchange allows users to open leveraged positions on Flare ( FLR ) and other cryptocurrencies, with plans to expand into commodities and forex markets. Traders can manage their positions using automated conditional orders while accessing liquidity sourced from multiple chains. Additionally, participants can earn rewards through the Flare DeFi Emissions Program. You might also like: Chainlink price hits 3-year high as open interest spikes to all-time high Flare’s Time Series Oracle SparkDEX Eternal is supported by 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 for margin trading. Unlike regular futures contracts, perpetual contracts do not have expiration dates. Instead, they employ a funding rate mechanism to align prices with the underlying spot market, allowing traders to implement strategies such as hedging, leverage, and short selling. According to the statement, SparkDEX has already recorded over $409 million in trading volume. The addition of perpetual contracts aims to provide more trading opportunities while supporting Flare’s decentralized finance ecosystem. You might also like: Ukraine to legalize crypto in early 2025 with no tax exemptions planned
