The post Flare Launches XDFi: Revolutionizing DeFi with Compliant Decentralized Futures Protocol appeared on BitcoinEthereumNews.com.

Flare, the data blockchain, and Sindric Solutions have partnered to introduce XDFi, a revolutionary decentralized futures technology developed by Wall Street professionals. With its mission to provide a non-custodial, trustless futures contract purchase environment that is operational around the clock, XDFi seeks to elevate industry standards for efficiency and compliance. Since regulatory uncertainty continues to be a barrier to institutional participation in DeFi on a broader scale, prominent investors are pleased to see XDFi. There is complete assurance that futures contract holdings are acquired in a completely compliant way because to the protocol’s third-party Know Your Customer tokenization (KYCT). This guarantees that only authorized counterparties will be involved in any P2P matches between long and short positions. DeFi’s unique KYCT method ensures complete compliance in the absence of a centralized custodian, broker, or intermediaries. Santiago Velez, Vice President of Research and Development at XDFi creator Sindric Solutions stated: “Flare technology has enabled the next phase in decentralized finance, paving the way for real world asset pricing through FTSO telemetry and futures contracts enabled by on-chain smart contracts. This is how a global financial system is built, one piece at a time.” Flare Co-founder and CEO Hugo Philion added: “Businesses like XDFi are exactly why we are building the blockchain for data. Flare’s enshrined oracles are secured at the network layer, which provides dapps with secure and censorship-resistant decentralized access to the broadest range of off-chain data. This creates the confidence to build high-value institutional use cases such as XDFi’s compliant decentralized futures protocol.” For end-to-end, on-chain tokenization and compliance monitoring, the futures protocol integrates third-party compliance service providers with Flare using a specially designed API. For open contract orders, users always have complete control over deposits in a non-custodial framework. XDFi offers a cloud-based best-pricing matching algorithm in addition to…

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Filed under: News - @ February 22, 2024 12:12 am