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- Synthetix has announced its plans to launch “Infinex” to “compete directly with CEXs.”<\/em><\/li>\n
- The launch will be accompanied by the release of its Perps V3.<\/em><\/li>\n<\/ul>\n
In a <\/span>blog posts<\/span><\/a> published on 14 July, the founder of Synthetix [SNX]<\/a>Kain Warwick, announced the protocol’s plans to launch “Infinex,” perpetual contracts (Perps) trading platform.<\/span><\/p>\n
According to Warwick, the decision to launch Infinex came from the need to address the user experience challenges associated with trading Synthetix Perps and to compete directly with centralized exchanges (CEXs).<\/span><\/p>\n
<\/span>read Synthetix’s [SNX] Price Prediction<\/a> 2023-24<\/p>\n
Warwick noted in the blog post,<\/span><\/p>\n
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\u201cI’m sure you’re asking, \u201cWhy do we need another front end? We already have KwEtnA powered by Samantha?\u201d I believe it is time to compete directly with CEXs.\u201d <\/span><\/p>\n<\/blockquote>\n
Per the publication, Infinex will seek to resolve the remaining obstacles faced by Synthetix Perps, such as,<\/span><\/p>\n
\n
\u201cGetting to Optimism, acquiring synthetic USD [sUSD]the need to sign every action. <\/span><\/p>\n<\/blockquote>\n
Additionally, Infinex will address issues encountered with CEXs, including security concerns, conversion to fiat currency, and the potential influence of politicians on the crypto industry.<\/span><\/p>\n
More Perps trading in the coming months?<\/b><\/h4>\n
While the release date for Infinex was not made known in the blog post, Warwick noted that it would be launched alongside Perps V3. This is expected to facilitate further growth in the daily volume of Perps traded on the platform.<\/span><\/p>\n
According to data from <\/span>Dune Analytics<\/span><\/a>, after a momentary decline in Synthetix Perps trading in June, the month so far has been marked by an uptick in daily trading volume. As of 14 July, the total trading volume across the protocol was $170.98 million. <\/span><\/p>\n
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- The launch will be accompanied by the release of its Perps V3.<\/em><\/li>\n<\/ul>\n
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