Synthetix Aims to Bridge Gap Between Centralized and Decentralized Exchanges with Infinex Launch
Summary:
Decentralized derivatives protocol Synthetix aims to bridge the gap between centralized and decentralized exchanges with the launch of its Infinex front-end. Infinex, set to launch in Q4, will provide a simplified and frictionless trading experience for users, with the goal of attracting more participants to DeFi. This move is part of a larger trend towards increasing adoption and usability of DeFi protocols. Synthetix V3, the underlying architecture of Infinex, introduces permissionless markets that offer flexibility for financial engineering and liquidity provision. SNX token holders will have control over geoblocking and KYC measures through decentralized governance. This development is expected to bring significant advancements to the DeFi space.
Synthetix, a decentralized derivatives protocol, plans to bridge the gap between centralized and decentralized exchanges with the launch of its Synthetix V3 protocol and Infinex decentralized exchange front-end in Q4. According to Synthetix founder Kain Warwick, Infinex could be the missing component that attracts more users to DeFi and allows it to challenge centralized finance. Infinex aims to simplify trading for everyday users by eliminating the friction of self custody and other hurdles associated with DeFi. This initiative is part of a growing trend to enhance adoption and usability of DeFi protocols. Another project, Bumper, launched on September 7 with the intention of protecting users' assets from market crashes. Meanwhile, DyDx Foundation CEO Charles d'Haussy recently announced plans to introduce a purely decentralized order book to address slow performance on the platform. Infinex is designed to provide a similar experience to a centralized exchange, powered by decentralized infrastructure. Unlike other decentralized exchanges, Infinex will not initially impose geoblocking or KYC limits on users; these decisions will be determined by SNX token holders through decentralized governance. Synthetix V3, which underlies the Infinex front-end, introduces permissionless markets that allow users to create and deploy new markets for financial engineering and attract liquidity. This development is seen as a significant step forward for DeFi.
Published At
9/8/2023 3:23:34 AM
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