Flare (FLR), a unique EVM-compatible L1 blockchain, has begun enabling one of the first fully compliant decentralised futures trading systems in cryptocurrency.
Flare (FLR) becomes launch partner for XDFi by Sindric Solutions: Details
Flare (FLR), the blockchain for data, has established a strategic development agreement with Sindric Solutions. As the partnership begins, XDFi, a new decentralised futures technology developed by Wall Street veterans, is launched on top of Flare (FLR).
XDFi intends to increase industry compliance and efficiency standards by providing a trustless, noncustodial futures contract purchase environment that is available 24 hours a day, seven days a week.
With regulatory uncertainties currently preventing larger-scale institutional participation in DeFi, XDFi is an appealing offer for huge investors.
The protocol’s third-party Know Your Customer tokenization (KYCT) provides complete confidence that futures contract positions are acquired in accordance with all applicable regulations.
This guarantees that all P2P transactions between long and short positions are conducted only between qualified counterparties. This KYCT technique is unique to DeFi, ensuring full compliance in the absence of a centralised middleman, broker, or custodian.
FTSO to make futures trading more efficient and transparent
Santiago Velez, vice president of research and development at XDFi inventor Sindric Solutions, emphasises the significance of his product debut on Flare (FLR) for the whole segment of cryptocurrency trading.
Flare technology has allowed the next stage of decentralised finance, paving the path for real-world asset pricing via FTSO telemetry and futures contracts powered by on-chain smart contracts.
Hugo Philion, Flare cofounder and CEO, emphasises that the new partnership adds to the synergy between Web2 and Web3 trading mechanisms:
Businesses like XDFi are precisely why we are developing the blockchain for data. Flare’s entrenched oracles are safeguarded at the network layer, giving dapps secure and censorship-resistant decentralised access to the most diverse off-chain data. This boosts confidence in developing high-value institutional use cases, such as XDFi’s compatible decentralised futures system.
The futures protocol employs a custom-built API connector to connect third-party compliance service providers to Flare for end-to-end, on-chain tokenization and compliance tracking.
In a noncustodial architecture, users always have complete control over deposits for open contract orders. XDFi has a completely decentralised settlement method as well as a cloud-based best-price matching algorithm.
