Raindex launches on Flare to energy decentralized CEX-style buying and selling

• Raindex app affords real-time entry to knowledge with full on-chain execution of trades.
• The Raindex desktop app will leverage the Flare Time Sequence Oracle (FTSO).
• Anybody can use the Rainlang sensible contract platform to create and deploy buying and selling methods on-chain.

Flare, the blockchain for knowledge community, has built-in Raindex, a platform that brings a brand new decentralised CEX-style buying and selling answer to the Flare ecosystem.

Raindex is a Rainlang sensible contract language platform that gives an intents-like buying and selling structure for desktop customers. The app has been in growth for over three years and blends the very best of each CEXs and DEXs, going past conventional Automated Market Makers (AMMs) to supply full on-chain execution of trades.

Notably, app customers can simulate the efficiency of their methods earlier than they deploy them on-chain.

Raindex app to leverage Flare’s FTSO

Raindex app leverages the Flare Time Sequence Oracle (FTSO) to offer for superior buying and selling, with the Flare decentralized value oracle expertise permitting for on-chain buying and selling that faucets into advantages of centralised exchanges.

In a press launch shared on Tuesday, Flare famous that with Raindex, customers can set bid and provide costs in addition to activate danger administration mechanisms equivalent to cease loss and take revenue.

Different customised buying and selling methods customers can deploy embrace dollar-cost-averaging (DCA), Dutch orders, copy buying and selling and portfolio rebalancing.

These actions are doable as a result of Raindex app makes use of the Rainlang sensible contract language, which permits anybody to design and deploy or handle a buying and selling technique.

Flare’s FTSO then permits anybody to carry out the trades on the consumer’s behalf however throughout the constraints of the deployed technique.

Josh Hardy, co-founder of Rain, stated the collaboration with Flare provides to the general development of the DeFi area.

“Safe, dependable knowledge is an indispensable a part of the toolkit for anyone writing buying and selling methods. We’re tremendous excited to introduce Rainlang and Raindex into Flare’s ecosystem, join with the DeFi group and see what they create,” he stated in a press release.

Enhanced safety for customers

The brand new platform will make the most of Flare’s FTSOv2, making the most of its “Quick Updates” functionality to ship real-time asset costs. Raindex integration on Flare may also embrace an extension of Rainlang that eliminates the necessity for third-party, off-chain knowledge oracles.

Entry to real-time asset value knowledge, buying and selling with out intermediaries amongst different added performance is enhanced by DEX-style safety. A consumer stays in charge of their personal keys and due to this fact their digital belongings.

Raindex has introduced a $12,000 buying and selling contest because it celebrates its launch on Flare. This system is aimed toward incentivising the group and can run all through Could 2024.