Cardano

Synthetix

Gains

<html>
 <head></head>
 <body>
 Synthetix, a decentralized finance (DeFi) protocol, is set to expand its product offerings with the introduction of a new derivatives front-end called Infinex. 
 The upcoming exchange aims to provide a decentralized trading infrastructure that caters to both novice and experienced traders, offering features similar to centralized exchanges (CEX). 
 This move is in response to the key issues identified with the current platform, Kwenta, a derivatives decentralized exchange (DEX) operating on Optimism. 
 Kain Warwick, the founder of Synthetix, highlighted some of the challenges faced by traders on the current platform. 
 Users are required to bridge their assets to the layer-2 rollup and exchange them for sUSD, Synthetix’s stablecoin used as margin collateral, before they can begin trading. 
 Additionally, every order or cancellation on the platform incurs a small fee due to the need for the trader’s wallet signature. 
 Warwick emphasized that the goal of Infinex is to address these issues and eliminate any doubts about the ability of decentralized perpetuals (Perps) to compete with centralized exchanges. 
 READ MORE: <a href="https://www.cryptointelligence.co.uk/coinbase-temporarily-suspends-staking-services/" rel="noopener noreferrer nofollow">Coinbase Temporarily Suspends Staking Services</a> 
 Warwick also pointed out the advantages of a noncustodial decentralized exchange, playfully mocking centralized exchanges like FTX for their counterparty risks. 
 He highlighted the dramatic collapse of FTX in 2022 as an example. 
 Infinex aims to offer a user-friendly experience for traders familiar with platforms like Binance. 
 It will provide access through a simple username and password, while still maintaining a noncustodial setup. 
 Each user will be assigned a unique public-private key pair generated by Infinex, which will be stored locally in the browser. 
 These keys will be used solely for signing trade orders and not for fund withdrawals. 
 While the technical implementation details of Infinex were not disclosed, Warwick mentioned that they were entrusted to the core developers. 
 The launch of the new DEX is expected to coincide with the release of Synthetix’s version three of its perpetual futures trading system, which is scheduled for the coming months. 
 With the introduction of Infinex and the improvements to its derivatives trading system, Synthetix aims to address the existing limitations and provide a more seamless and efficient trading experience for its users. 
 By combining the benefits of decentralized finance with features typically associated with centralized exchanges, Synthetix aims to further establish itself as a leading player in the DeFi space. 
 Other Stories: 
 <a href="https://www.cryptointelligence.co.uk/bitcoin-long-term-holders-return-as-btc-price-surges/" rel="noopener noreferrer nofollow">Bitcoin Long-Term Holders Return as BTC Price Surges</a> 
 <a href="https://www.cryptointelligence.co.uk/sec-stresses-crucial-clarification-amid-coinbase-battle/" rel="noopener noreferrer nofollow">SEC Stresses Crucial Clarification Amid Coinbase Battle</a> 
 <a href="https://www.cryptointelligence.co.uk/cardano-surges-23-9-following-favorable-xrp-ruling-investors-eye-further-gains/" rel="noopener noreferrer nofollow">Cardano Surges 23.9% Following Favorable XRP Ruling, Investors Eye Further Gains</a>
 </body>
</html>

Synthetix Expands DeFi Offering with Introduction of Infinex Derivatives Exchange

Crypto Intelligence

Andre artikler publisert på 17. juli 2023

Binance Implements Bitcoin Lightning Network for Faster BTC Withdrawals and Deposits

ADA en hausse : Cardano perd son statut de « Ghost Chain »

FSB Tackles Regulatory Arbitrage in Final Recommendation

Striking Statements from Ripple’s Former Executive

Aave Overtakes MakerDAO as the Second-Largest DeFi Protocol in TVL

Revolutionizing the World of Cryptocurrency Trading: OFX Exchange Sets New Standards with an Adva...

Bli med på vårt gratis nyhetsbrev for daglige kryptooppdateringer!