The Avalanche-based decentralized exchange (DEX) Pangolin is reportedly planning for its introduction on the layer-1 blockchain Flare network. 

Specifically, Flare is reportedly acknowledged for its interoperability tools, which prompted Pangolin’s decision to take advantage of the underlying technology to reach new blockchain networks.

The transition to the Flare blockchain will reportedly make it possible for Pangolin to unlock new cross-chain token pairs, offer in-DApp swap features to partner initiatives, and bootstrap liquidity for the network. 

The layer-1 blockchain platform has reportedly spent an extensive amount of resources on interoperability, enabling projects on the platform to link and interact with numerous blockchain networks.

Pangolin is reportedly able to provide DEX-as-a-service functionalities to any Flare-powered application looking to incorporate direct token swaps into its user experience. 

One more major issue in the decentralized finance (DeFi) market has been the recent fall among centralized crypto lending companies, resulting in investors suffering from billions of dollars in financial damage. 

Justin Trollip, current Head of Pangolin, reportedly revealed that recent problems took place because of hubris and unsustainable leveraged positions by interconnected whales, and Pangolin would work to offer a guarantee for the permanent disappearance of those kinds of events on their platform. 

“The beauty of DeFi is that once funds are in a smart contract there’s no veil of secrecy around where those funds are and what they’re being used for. We take the security of our users seriously and provide full transparency along with major investments in audits for any newly deployed smart contracts.”

The Pangolin DEX will be able to swap any token that is bridged to Flare, regardless of whether it has smart contract capabilities, using FAssets and LayerCake, the two interoperability solutions offered by the Flare network.