Synthetix DEX launch to join efforts reducing the 'serious friction' in DeFi
Decentralized derivatives protocol Synthetix is the latest project aiming to close the usability gap between centralized and decentralized exchanges — with a Q4 slated launch of the Synthetix V3 protocol and its decentralized exchange front-end, called Infinex.
Speaking to Cointelegraph, Synthetix founder Kain Warwick said the Q4 slated launch of Infinex — a decentralized perpetual futures exchange front-end which enables trades on Optimism (OP) — as the “missing component” that could bring more users to DeFi.
We are entering DeFi’s greatest chance to take on centralised finance.
Let's start talking plans:https://t.co/lGWMD7WZdj
“From a trading perspective, DeFi is pretty close to feature parity with CeFi. We’ve got the liquidity, we've got the markets, we've got the depth, we've got the execution time. But we’re still missing a key component.”
Infinex will be among a growing roster of projects aimed at increasing the adoption and usability of DeFi protocols. On Sept. 7, a new protocol called Bumper launched with the goal of protecting users’ assets from crashes by pricing contract premiums based on actual volatility rather than past volatility.
On Sept. 6, DyDx Foundation CEO Charles d’Haussy told Cointelegraph that the exchange will soon offer a “purely decentralized” order book as it seeks to address the slow performance that comes with on-chain order books.
Giving more detail about the upcoming launch, Kain explained that Infinex’s primary focus will be to make it easier for traders to access decentralized perpetuals by way of removing friction points such as convoluted accounts controls and having to sign off on every transaction.
In March, Maple Finance co-founder Sid Powell argued that institutional adoption of DeFi
Read more on cointelegraph.com
