Synthetix DEX Introduced To Reduce ‘Serious Friction’ in DeFi
Synthetix, a decentralized derivatives protocol, plans to bridge the usability gap between centralized and decentralized exchanges with its v3 protocol and front-end, Infinex.
Synthetix founder Kain Warwick believes that Infinex, a decentralized perpetual futures exchange front-end for Optimism (OP), is the missing component that could attract more users to DeFi once it launches in Q4. DeFi is close to feature parity with CEFi, but Warwick believes that the lack of self-custody and other frictions makes it difficult for everyday users to use. Warwick believes that DeFi’s launch in Q4 could attract more users to the platform.
Infinex is among several projects aiming to enhance DeFi protocol adoption and usability. Bumper, launched on September 7, aims to protect users’ assets from crashes by pricing contract premiums based on actual volatility.
(With inputs from Shikha Singh)
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