Synthetix Aims for Q4 Launch of Perps V3 and Infinex, Focusing on Enhanced User Experience

Synthetix founder Kain Warwick reveals plans to expand product offerings with Infinex, a user-friendly front end for decentralized perpetual futures exchange.

Key points:

  • Synthetix is targeting a Q4 launch for Perps V3, the third version of its decentralized perpetual futures exchange, along with the introduction of Infinex, a user-friendly front end for the exchange.
  • Infinex aims to replicate the user experience of centralized exchanges while maintaining the benefits of self-custody and decentralized trading. It will focus on providing easy access to decentralized perpetuals trading and eliminating the need for users to sign a blockchain transaction for each trade.
  • Synthetix founder Kain Warwick believes that offering a safer and user-friendly alternative to centralized exchanges is crucial, and the launch of Perps V3 and Infinex is a step towards attracting more traders to the decentralized finance ecosystem.

Synthetix, a leading decentralized finance (DeFi) protocol, has set its sights on a Q4 launch for the highly anticipated third version of its decentralized perpetual futures exchange, Perps V3. Additionally, the company plans to introduce a new front end called Infinex, aimed at providing a user experience comparable to centralized exchanges while retaining the benefits of self-custody.

Kain Warwick, the founder of Synthetix, shared the timeline during an interview at the EthCC event in Paris. Warwick expressed confidence that Infinex’s launch would align with Perps V3, both targeted for release within the next three months.

As a decentralized protocol facilitating the trade of synthetic assets and cryptocurrency derivatives, Synthetix offers spot trading and perpetual contracts (perps) that do not have expiration dates. The forthcoming Perps V3 upgrade will integrate the perpetual platform into the Synthetix architecture.

Infinex, the newly announced front end, aims to improve the user experience of decentralized perpetuals trading. It seeks to provide a user-friendly interface, lower fees, and increased liquidity, while eliminating the need for users to sign a blockchain transaction for every trade.

Warwick acknowledged that while Perps V3’s initial focus is on perpetuals, future expansion is necessary to attract a broader range of traders. Synthetix intends to offer a variety of trading products to compete with centralized exchanges effectively.

Addressing concerns regarding the safety and ease of use of decentralized exchanges, Warwick highlighted the importance of providing a safer alternative for users. While recent incidents involving centralized exchanges, such as the Mt. Gox and FTX incidents, have raised concerns, he believes that users may forget these incidents over time. Therefore, Synthetix aims to offer a secure and user-friendly decentralized exchange option through Infinex.

Unlike some other decentralized exchanges, Synthetix products, including Infinex, will not implement geographical restrictions or know-your-customer procedures. Warwick explained that since the front end is separate from the exchange services and custody of assets, its regulatory status remains a point of contention.

The introduction of Infinex aligns with Synthetix’s overall strategy to expand its range of affiliated products. By combining user-friendly features and self-custody, Synthetix aims to attract both novice and experienced traders to the decentralized trading infrastructure.

As the launch of Perps V3 and Infinex approaches, the Synthetix team remains focused on creating a secure and seamless trading experience for the decentralized finance community.

As of 18th July, 2023, SNX token is 30% up in the last 7 days, currently trading at 2.65USD with a marketcap of $712,913,740

Related posts

NIM Network Announces NIM token Airdrop for DYM stakers and Popular Gaming and NFT Communities

NIM is a highly-adoptable AI Gaming chain that is specifically designed for the development and…
Read more

ArbitrageScanner Event – Best Crypto & Web3 Side Event in Dubai, April 2024?: Review

Join the Exclusive Crypto Side Event in Dubai, 17-18 April! Organized by – the…
Read more

Uniswap Foundation Proposes Governance Upgrade to Boost Delegation and Incentivize Stakeholders; UNI token price surges 50%

The Uniswap Foundation proposed a governance upgrade to incentivize active and thoughtful…
Read more
Become a Trendsetter

Sign up for TheTechly’s Daily Digest and get the latest and trending technology updates.

[mc4wp_form id="729"]