{"id":151988,"date":"2023-09-08T10:17:21","date_gmt":"2023-09-08T04:47:21","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=151988"},"modified":"2023-09-08T10:17:21","modified_gmt":"2023-09-08T04:47:21","slug":"synthetix-dex-launch-to-join-efforts-reducing-the-serious-friction-in-defi-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/synthetix-dex-launch-to-join-efforts-reducing-the-serious-friction-in-defi-crypto-news\/","title":{"rendered":"Synthetix DEX launch to join efforts reducing the \u2018serious friction\u2019 in DeFi – Crypto News"},"content":{"rendered":"
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Decentralized derivatives protocol Synthetix is the latest project aiming to close the usability gap between centralized and decentralized exchanges \u2014 with a Q4 slated launch of the Synthetix V3 protocol and its decentralized exchange front-end, called Infinex.<\/p>\n

Speaking to Cointelegraph, Synthetix founder Kain Warwick said the Q4 slated launch of Infinex \u2014 a decentralized perpetual futures exchange front-end that enables trades on Optimism (OP) \u2014 as the \u201cmissing component\u201d that could bring more users to DeFi. <\/p>\n

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We are entering DeFi\u2019s greatest chance to take on centralised finance. <\/p>\n

Let’s start talking plans:https:\/\/t.co\/lGWMD7WZdj<\/a><\/p>\n

\u2014 Infinex (@infinex_app) August 13, 2023<\/a><\/p><\/blockquote>\n

\u201cFrom a trading perspective, DeFi is pretty close to feature parity with CeFi. We\u2019ve got the liquidity, we’ve got the markets, we’ve got the depth, we’ve got the execution time. But we\u2019re still missing a key component.<\/p>\n

\u201cRight now, you still need to go jump through the hoops of self custody and all of these other little things that add serious friction. For the everyday user that\u2019s used to trading on a CEX this is a level of friction that makes it really hard to use.\u201d <\/p><\/blockquote>\n

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<\/a> with the goal of protecting users\u2019 assets from crashes by pricing contract premiums based on actual volatility rather than past volatility. <\/p>\n

On Sept. 6, DyDx Foundation CEO Charles d\u2019Haussy told Cointelegraph that the exchange will soon offer<\/a> a \u201cpurely decentralized\u201d order book as it seeks to address the slow performance that comes with on-chain order books. <\/p>\n

DeFi\u2019s friction points<\/h3>\n

Giving more detail about the upcoming launch, Kain explained that Infinex\u2019s 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.<\/p>\n

\u201cEssentially, it\u2019s the features and experience of a centralized exchange powered by decentralized infrastructure.\u201d<\/p><\/blockquote>\n

In March, Maple Finance co-founder Sid Powell argued that institutional adoption of DeFi could only be achieved by reducing the friction for them. That month saw Maple Finance launch<\/a> downloadable monthly interest statements that lenders can take to auditors or accountants.\u00a0<\/p>\n

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If we want more institutional adoption of DeFi then we have to reduce friction for them. @maplefinance<\/a> interest statements which a Lender can take to an auditor, accountant or fund admin. https:\/\/t.co\/JqlW4CJlfp<\/a><\/p>\n

\u2014 Sid Powell (v2) (@syrupsid) March 28, 2023<\/a><\/p><\/blockquote>\n

Meanwhile, Kain noted that due to Infinex just being a \u201cfront-end\u201d to the underlying derivatives protocol, Kain explained that it would not initially impose any geoblocking restrictions or KYC limits on users. <\/p>\n

While many other decentralized exchanges such as DyDx and Uniswap have imposed such measures, Kain said that the control of Infinex would be relegated to a mode of decentralized governance. <\/p>\n

\u201cIt\u2019s the SNX token holders that can decide whether they want to geo block or geo fence or KYC or whatever. They can decide and vote on whatever they want.\u201d<\/p>\n

Related: <\/em><\/strong>Synthetix (SNX) trading volume overtakes GMX, but is the DEX token rally sustainable?<\/em><\/strong><\/a><\/p>\n

Infinex will be rolled out alongside Synthetix v3, the project\u2019s newest forthcoming decentralized derivatives protocol. Kain explained that Synthetix v3 forms the underlying architecture of the Infinex front-end and will include a \u201cbunch of upgrades\u201d to how traders are able to provide and access liquidity.<\/p>\n

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Curious about Synthetix Perps V3? <\/p>\n

Dive in with @snxambassadors<\/a> on Spartan Spaces, Thursday, 6 pm UTC. <\/p>\n

Explore new features, integrator possibilities, and benefits of building on V3 infrastructure.<\/p>\n

RSVP pic.twitter.com\/IkzhKpEddq<\/a><\/p>\n

\u2014 Synthetix \u2694\ufe0f (@synthetix_io) September 5, 2023<\/a><\/p><\/blockquote>\n

\u201cThe biggest change with Synthetix v3 is permissionless markets. These permissionless markets will allow for someone to do whatever kind of financial engineering they want, come up with a new market and deploy it and attract liquidity.\u201d <\/p>\n

\u201cIt\u2019s a lot like a Uniswap style permissionless pool,\u201d he added. <\/p>\n

Decentralized derivatives have grown in popularity among fund managers and traders in recent months, with Apollo Capital Chief Investment Officer Henrik Andersson telling Cointelegraph that the nascent sector<\/a> looks poised to eventually become the next major boon for DeFi as a whole. <\/p>\n

Magazine: <\/em><\/strong>How to protect your crypto in a volatile market \u2014 Bitcoin OGs and experts weigh in<\/em><\/strong><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Decentralized derivatives protocol Synthetix is the latest project aiming to close the usability gap between centralized and decentralized exchanges \u2014 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 \u2014 a decentralized perpetual […]<\/p>\n","protected":false},"author":2,"featured_media":125173,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-151988","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151988","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=151988"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151988\/revisions"}],"predecessor-version":[{"id":151990,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151988\/revisions\/151990"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/125173"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=151988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=151988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=151988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}