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Decentralized Exchange Pangolin Will Debut On Flare Network

A decentralized exchange (DEX) based on the Avalanche network, Pangolin, will make its debut on Flare (a blockchain network based on layer-1). Flare has a specialty in interoperability solutions thus Pangolin expects to use the platform’s core technology to reach exclusive blockchain networks.

Pangolin DEX Gets Ready for Its Debut on Flare Network’s Blockchain

With Pangolin’s move toward Flare blockchain, the venue will be capable of having exclusive cross-chain pairs of tokens, to provide the ability of in-dApp swap to the collaborator projects, as well as bootstrap the network’s liquidity. Significant attention has been paid by the layer-1 blockchain to interoperability, permitting the projects on the venue to link with several blockchain-based networks.

Pangolin can provide the features related to DEX-as-a-service to any of the applications based on the Flare network that intends to integrate token swaps directly into its consumers’ experience. Another noticeable problem within the space of decentralized finance (DeFi) has been the collapses undergone by diverse leading companies in the crypto sphere, paving the way toward huge losses experienced on the behalf of the investors (reaching approximately billions of dollars).

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Pangolin’s CEO – Justin Trollip – stated that the recently appearing matters took place because of the unsustainable leveraged points taken by the interlinked whales, and this will always be kept in mind by Pangolin to guarantee that the respective occasions do not take place on the venue. He added that it is a good aspect of DeFi that the funds – after they are in some smart contract – are disclosed without anything concealing them, their place, and utilization.

With the move taken by Pangolin DEX, the firm will be in a better position to swap any of the tokens that are using the Flare platform, notwithstanding the fact if the smart contract-related capabilities are obtained by it, with the use of LayerCake and FAssets (both are the interoperability solutions provided on the behalf of the Flare network).

The role played by interoperability within the DeFi world is much important as it is categorized as this sector’s future.  A great number of the market and Web3 experts have anticipated that the projects operating with cross-venue support are going to be the basis and crucially important things in the case of assisting the projects based on the upcoming generation of Web3 and DeFi.

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Mubashar Nawaz (United Arab Emirates)

Mubashar Nawaz is an experienced crypto writer working for Tokenhell. Having passion for writing, he covers news articles from blockchain to cryptocurrency.

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