Data-centric Layer 1 blockchain Flare has partnered with aiPX to launch a decentralized non-custodial perpetual exchange on the network. aiPX is a fork of Level Finance, an iteration of perpetual derivatives trading protocol GMX.

A perpetual DEX with a focus on risk management and innovative solutions for liquidity providers, aiPX will utilize Flare Time Series Oracle (FTSO) price feeds for collateral calculations and liquidation thresholds. The new trading protocol will also offer users leverage trading, token swaps, staking for protocol revenue-share, and user governance.

Initial liquidity pools will include WUSDC, WFLR and WUSDT, with more expected to be confirmed after fresh bridging models are launched on Flare and more tokens become available. The team behind aiPX previously created another decentralized perpetual exchange, Takepile, on the Fantom network.

“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,” said Sonic, CEO and Cofounder of aiPX.

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

Flare CEO and Cofounder Hugo Philion echoed Sonic’s sentiments, adding: “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.”

By leveraging the power of Flare’s native network, aiPX aims to foster a seamless trading experience directly from users’ wallets.