Deep Tide TechFlow News, on August 13, Pharos Network reached a partnership with the decentralized Web3 wallet Bitverse, planning to build a perpetual contract decentralized trading platform (PerpDEX) on the Pharos network. This platform will utilize UTA engine technology to support perpetual contract trading for assets such as cryptocurrencies and US stocks.

The platform will adopt a low-latency architecture, with Bitverse acting as the liquidity provider, responsible for connecting to the Ethereum stablecoin liquidity pool to provide liquidity support for the Pharos ecosystem.

According to Wu Wish, co-founder and chief technology officer of Pharos Network, the platform will integrate Web2 and Web3 technologies to enhance on-chain trading efficiency.