SparkDEX has officially launched SparkDEX Eternal, a perpetual decentralized exchange powered by the Flare blockchain.

As detailed in a communication shared with crypto.news, the platform offers perpetual contracts, which allow traders to maintain leveraged positions indefinitely without having to hold the underlying assets.

Users can open leveraged positions on Flare (FLR) and other cryptocurrencies, with future plans to enter commodities and forex markets. Traders have the ability to manage their positions through automated conditional orders while tapping into liquidity from various chains. Furthermore, participants can earn rewards via the Flare DeFi Emissions Program.

Flare’s Time Series Oracle

SparkDEX Eternal is backed by the Flare Time Series Oracle, which delivers decentralized and frequent price updates. With FTSO’s 1.8-second price feed, the platform ensures accurate funding rate calculations and efficient liquidation processes, both essential for margin trading.

In contrast to traditional futures contracts, perpetual contracts do not feature expiration dates. Instead, they use a funding rate mechanism to keep prices aligned with the underlying spot market, enabling traders to employ strategies like hedging, leverage, and short selling.

According to the announcement, SparkDEX has already achieved over $409 million in trading volume. The introduction of perpetual contracts is intended to enhance trading opportunities while bolstering Flare’s decentralized finance ecosystem.