Flare, the blockchain for knowledge, has introduced the launch of the Raindex desktop app: a brand new intents-like DEX that makes use of the Flare Time Collection Oracle (FTSO) to supply the superior buying and selling operations of centralized exchanges. Customers can now set bid and provide costs, activate cease loss and take revenue mechanisms, and replicate different merchants’ methods in a trustless, fully-permissionless, decentralized approach, on-chain.
The Raindex app makes use of the intuitive Rainlang good contract language, giving anybody the flexibility to design, write, deploy and handle personalized token buying and selling methods, whereas leveraging Flare’s native decentralized worth oracle, the FTSO, for dependable and safe asset worth triggers.
Raindex achieves this with an intents-like structure. Customers can specify their desired commerce outcomes while not having to outline how the commerce is fulfilled, doubtlessly organising a number of future trades as a part of a technique deployed in a single transaction. Anyone can then carry out the trades on behalf of customers, inside the constraints of the pre-defined technique.
As an illustration, a person can write a technique to promote belongings at a set worth triggered by the Flare Time Collection Oracle. Underneath the hood, Raindex facilitates this commerce by appearing as an identical venue for purchaser and vendor intents. This frees customers from handbook order placement and fixed market monitoring.
Trusted Actual-Time Asset Value Information
The end result of greater than three years of devoted improvement, Raindex blends essentially the most compelling benefits of each CEXs and DEXs right into a single platform, permitting customers to craft and execute Rainlang methods with out intermediaries. It supplies a CEX-like buying and selling expertise with enhanced DEX-style autonomy and safety, so customers not have to surrender management of their digital belongings.Â
The platform will reap the benefits of FTSOv2’s new “Fast Updates” functionality that delivers asset costs each block (1-2 second intervals), secured by Flare’s novel structure, guaranteeing each worth accuracy and censorship resistance.
Flare gives a novel belief mannequin for the enshrined oracles on their community as the info integrity is secured by the validators themselves. An extension of Rainlang on Flare allows FTSO knowledge to be leveraged for buying and selling methods, enhancing market responsiveness whereas eliminating the reliance on third-party, off-chain knowledge oracles.
Josh Hardy, Co-founder of Rain, commented: “Secure, reliable data is an indispensable part of the toolkit for anybody writing trading strategies. We’re super excited to introduce Rainlang and Raindex into Flare’s ecosystem, connect with the DeFi community and see what they create!”
Enhanced Buying and selling With out Intermediaries
Rainlang is an modern new programming language that’s designed to be easy to learn and write. Anybody who can learn and write Excel formulation can simply study to create good contracts utilizing Rainlang.
Merchants will be capable of implement their personalized methods, together with, however not restricted to, dollar-cost averaging (DCA), cease losses, Dutch orders, portfolio rebalancing, market-making liquidity administration and development monitoring.Â
With the flexibility to set bids and asks, cease loss, take revenue triggers, and duplicate commerce vaults, the platform strikes past conventional Automated Market Maker (AMM) fashions, providing unparalleled commerce expression freedom with full on-chain execution.
“The recently announced upgrades to the Flare Time Series Oracle will enable up to 1,000 asset prices to be delivered on-chain every second or so, without sacrificing decentralization or security. Combine this with Rain’s intents-like DEX and you enable much of the functionality of a centralized exchange but without the risk of needing to custody your assets with a third party,” mentioned Hugo Philion, Flare Co-founder and Flare Labs CEO.Â
The great Raindex desktop app supplies an all-encompassing set of instruments for merchants to plan and write their methods, with the flexibility to simulate its efficiency earlier than deploying it on-chain. Customers can merely specific what they need utilizing Rainlang, deposit their tokens into vaults after which deploy their order when the time is true, with Raindex’s app offering real-time efficiency monitoring.Â
To rejoice its launch on Flare and entice the group to point out off its buying and selling abilities, Raindex is staging a buying and selling contest that may run all through Might 2024, with a complete prize pool of $12,000 accessible for individuals who can create essentially the most worthwhile buying and selling methods utilizing Rainlang.Â
About FlareÂ
Flare is the blockchain for knowledge: an EVM good contract platform particularly designed to assist data-intensive use instances, together with Machine Studying/AI, RWA tokenization, gaming and social. With decentralized, enshrined oracles secured on the community layer, Flare is the one good contract platform optimized for decentralized knowledge acquisition – worth & time sequence knowledge, blockchain occasion & state knowledge, and web2 API knowledge. By giving builders trustless entry to the broadest vary of knowledge and knowledge proofs at scale and for minimal value, Flare expands the utility of blockchain and helps the event of latest and improved use instances.
About Raindex
Rainlang is DeFi’s native language on EVM. Solely on-chain, it promotes accessibility and decentralization by making good contracts simpler to learn and write. Raindex, leveraging Rainlang, introduces a brand new DEX idea the place orders are good contracts, enabling advanced, algorithmic buying and selling methods to be created and executed on-chain. Rain’s mission is to foster innovation and inclusivity in good contract improvement and DeFi.
