DEX BlazeSwap Announces it is Launching on Flare Network

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BlazeSwap, an open-source and fully decentralized exchange (DEX), has recently announced it is launching on Flare Network, a blockchain that presents developers with a single, simple, coherent stack to build applications that are fully cross-chain capable.

According to the announcement, BlazeSwap will become the first and only DEX on Flare offering users Flare’s price oracle delegation and network airdrop rewards on top of liquidity provider fees.

Some of the most important features of BlazeSwap is that its pools offer automatic delegation to data providers for Flare Time Series Oracle (FTSO), the project’s native decentralized price oracle.

BlazeSwap incorporates this Flare-native feature, offering users an enhanced earning structure that augments traditional DEX Liquidity Provider incentives from pool trading fees with the organic FTSO rewards.

According to the project developers, BlazeSwap will go live on the Flare network after the observation mode of the blockchain is completed. In addition, if the proposal FIP.01 receives support from the community, contributors to BlazeSwap’s liquidity pools will also be able to receive their share of the delegation incentive pool token rewards.

Hugo Philion, Flare CEO & Co-founder, has said:

“We are thrilled to see Blazeswap integrating Flare’s native data infrastructure to offer a new way of doing DeFi. This is exciting news, not only for BlazeSwap and Flare, but also the broader Web3 and DeFi communities. We look forward to seeing what other innovative products our growing developer base will be able to build using Flare’s native protocols.”