DeFi

Perpetual DEX Firefly Launches On BobaBeam

Perpetual DEX Firefly Exchange announced its launch on BobaBeam, which is the Layer 2 scaling solution on Moonbeam built by Boba Network.

Users on Moonbeam and Polkadot are able to trade perpetuals on Firefly Exchange.

Firefly is an orderbook decentralized exchange for perpetual swaps and options powered by Substrate.

Supported by Polkadot’s shared security, high-throughput and low-latency transactions, micro-gas fees, and interoperability across networks, the DEX will provide traders with a derivatives DEX that is both performant and secure.

The DEX caters to the Polkadot community, providing unique products for the over 30,000 parachain crowd loan participants, and will support staking derivatives of bonded or staked DOTs as collateral. Firefly also provides one of the most performant user experiences in DeFi, with under 450 milliseconds of settlement when network latency and network congestion are abstracted.

Earlier, the FireFly team announced the guarded launch of their DEX for perpetual swaps & options and will be the first protocol to integrate & leverage Boba’s services on Moonbeam.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.