Accelerating DeFi on Flare

Why Flare?

As a high-performance DeFi ecosystem employing the latest, cutting-edge technology, the SparkDEX team strategically selected to deploy on Flare’s Layer 1 EVM chain to leverage Flare’s state-of-the-art tooling for data management and aggregation.

Innovating DeFi on top of the Flare tech stack

Flare's innovative data aggregation model is underpinned by the Flare Time Series Oracle (FTSO) and Data Connector, which work in tandem to deliver high-integrity data from both on-chain and off-chain sources to decentralized applications operating in the Flare ecosystem.

Flare’s comprehensive approach to data management sets its ecosystem apart as the go-to blockchain for data, which will support further innovation and data-driven decision making on SparkDEX.

SparkDEX will leverage 3 key components of the Flare tech stack to ensure operational security and maintain its position as a pioneering force at the frontier of DeFi innovation.

FlareMetrics.io: Flare’s transparency and accountability tool that presents real-time performance statistics for data providers, enabling ecosystem applications to monitor the reliability and consistency of data feeds and make informed decisions.
Flare Time Series Oracle (FTSO): Flare’s decentralized protocol that employs cogent incentives to deliver accurate and tamper-resistant time-series data feeds to decentralized applications. The FTSO taps into an extensive network of independent data providers to retrieve precise information at frequent, predetermined intervals.
Data Connector: Flare’s data aggregation protocol that enables the seamless integration of off-chain event data into the Flare ecosystem. Data Connector allows ecosystem applications to safely and trustlessly reach consensus on events that have occurred outside the Flare network, such as transactions on other blockchains and data from web-based APIs.

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Last updated 10 months ago

Innovating DeFi on top of the Flare tech stack

Flare’s comprehensive approach to data management sets its ecosystem apart as the go-to blockchain for data, which will support further innovation and data-driven decision making on SparkDEX.

SparkDEX will leverage 3 key components of the Flare tech stack to ensure operational security and maintain its position as a pioneering force at the frontier of DeFi innovation.

FlareMetrics.io: Flare’s transparency and accountability tool that presents real-time performance statistics for data providers, enabling ecosystem applications to monitor the reliability and consistency of data feeds and make informed decisions.

Flare Time Series Oracle (FTSO): Flare’s decentralized protocol that employs cogent incentives to deliver accurate and tamper-resistant time-series data feeds to decentralized applications. The FTSO taps into an extensive network of independent data providers to retrieve precise information at frequent, predetermined intervals.

Data Connector: Flare’s data aggregation protocol that enables the seamless integration of off-chain event data into the Flare ecosystem. Data Connector allows ecosystem applications to safely and trustlessly reach consensus on events that have occurred outside the Flare network, such as transactions on other blockchains and data from web-based APIs.