Sunday, January 29, 2023
HomeBlockchain`Flare Network To host Pangolin Exchange With 4.6 million Token Airdrop

Flare Network To host Pangolin Exchange With 4.6 million Token Airdrop

Pangolin Exchange is the first decentralised exchange to be introduced by Flare Network, the blockchain that seeks to link everything. With over $15 billion in total trading volume, 3000 token pairs listed, and 9 million swaps on their platform, Pangolin is one of the most popular and trusted DEXs on the Avalanche blockchain. Flare is the optimal partner for the DEX as it seeks to expand into new ecosystems.

Pangolin intends to use Flare’s native interoperability technology to dramatically expand the number of cross-chain token pairings, provide in-dApp swap capabilities to partner projects, and bootstrap liquidity for the network by launching on Flare.

As a result, the Pangolin DEX will be able to trade any token that can be bridged to Flare, whether or not it has smart contract capabilities. This will dramatically increase the number of tokens supported by Pangolin. In addition, Pangolin DEX may provide DEX-as-a-service features to any Flare-based application that requires direct token swaps in its interface.

Justin Trollip, Pangolin CEO, stated:

“We’re very excited about partnering with Flare to deploy on their unique technology stack. They are introducing innovations to the space that will allow us to leverage our established platform and build innovative products utilizing the State Connector to achieve features not yet imagined within DeFi.”

In August, Pangolin Exchange will be live on Songbird and Flare as soon as the mainnet is live and the first token distribution event is over. There will be an airdrop of 4.6 million Flare Pangolin tokens to all current Pangolin DEX users on Avalanche, with the goal of encouraging them to try out the new version.

Hugo Philion, Flare CEO & Co-founder, commented:

“Pangolin is well-respected for good reason, so we are very happy to welcome them as the first DEX on Flare mainnet. In many ways, Flare is the perfect new home for Pangolin on their expansion journey. The State Connector will power secure decentralized bridging and full cross-chain composability so assets and information can flow freely between all chains. Pangolin doesn’t need to choose just one ecosystem when many more can be accessed through a single deployment on Flare.”

It is possible to obtain and utilize data from both on- and off-chain sources with confidence using Flare’s State Connector, the industry’s first decentralized consensus mechanism for external data. Flare provides safe and decentralized bridging that enables assets to move freely between all blockchains, enabling hundreds of use cases that were previously unavailable.



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