Qilin & PARSIQ partner up to create trigger warnings for permissionless perpetuals markets
Permissionless perpetuals trading protocol Qilin and blockchain analytics platform PARSIQ have entered a partnership to bring the first-ever trigger warnings to the decentralized perpetuals market.
With PARSIQ integrated into Qilin’s permissionless perpetuals marketplace, liquidity providers and users will be able to receive trigger warnings from on-chain events such as:
● Liquidations
● Large long/short orders
● Rebase events, etc.
“With the rise of decentralized and permissionless derivative trading, we expect increasing usage of on-chain data analytics solutions such as PARSIQ to be adopted by traders and liquidity providers, as platforms like PARSIQ offer democratized trading software solutions to retail participants in DeFi,” commented Qilin’s Core Team.
About Qilin
Qilin Protocol is a permissionless perpetuals trading protocol. It launched the ETH-USDC perpetuals contract market in April, 2021 with innovative features including rebase funding rate and peer-to-pool liquidity provision. Qilin Protocol is scheduled to launch its V2 to bring fully permissionless perpetuals market to DeFi in the upcoming month. On Qilin V2, users can create perpetuals market for any trading pair and provide liquidity in any asset. This permissionless design is aimed to scale DeFi derivatives to thousands of perpetuals pairs.
According to JC from Qilin Protocol’s core team:
“Although there have been numerous derivative protocols in DeFi, we have yet seen a Uniswap-level scaling solution to expand the derivative market. To do that, we don’t just need a decentralized perpetuals marketplace, but a permissionless one.”
About Parsiq
PARSIQ is a blockchain monitoring and workflow automation platform connecting on-chain and off-chain applications in real-time, providing transaction notifications for end-users. With PARSIQ you can connect blockchain activity to off-chain apps and devices, monitor and secure DeFi applications, and build custom event triggers and power real-time automations. Set to become the ‘one stop shop’ for all blockchain data needs, PARSIQ has already established partnerships and integrations with many of the leading Web 3 projects and platforms.
