Just recently, the Flare-based decentralized exchange (DEX) suite SparkDEX integrated USDTO, Tether’s multi-chain liquidity standard. This drove a 650% increase in total value locked (TVL), which climbed over $100 million during the first week of July. Trading volume tripled to $3 billion, and unique users surpassed 2,500.

Flare, a layer one (L1) EVM chain with a $1 billion market cap, focuses on blockchain interoperability. SparkDEX operates its leading DEX and perpetual exchange on the network. The team believes that Flare’s upcoming FXRP launch on the mainnet could inject over $100 billion in liquidity, positioning SparkDEX as a global XRPFi hub.

SparkDEX’s core team includes Alexi Atlas (co-founder of Quickswap) and Steve (co-founder of Metavault and GrizzlyFi). Additionally, Lunar Digital Assets supports marketing and PR efforts. According to the team’s release shared with Bitcoin.com News, SPRK token will enable holders to govern protocol development and parameter adjustments.

SPRK token will also reward liquidity providers, traders, and ecosystem participants. The launch proceeds despite challenging altcoin market conditions. Bitcoin remains the top cryptocurrency performer in 2025. SparkDEX emphasizes utility-driven growth within Flare network’s expanding DeFi ecosystem.

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