Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Bitcoin on a confirmed breakout after reaching new all time high, says analyst Kevin Svenson-Hier is his prospects

2025-05-22

Binance Coin: mapping BNBs away to $ 700 – how, when and what now?

2025-05-22

Bitcoin climbs solo, without altcoins – risk alert for traders!

2025-05-22
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    Alchemy Pay and Story Partner to simplify Fiat OnRamps for IP blockchain users

    2025-05-22

    Sophon reveals ZKTLS-based social oracle to integrate private web2 data

    2025-05-22

    Solana to get a big design prevention

    2025-05-22

    World3 Powers AI-driven Governance on-Chain with Quack AI

    2025-05-22

    Validation Cloud implements AI -Engine on Hedera

    2025-05-22
  • NFT

    Hashrate Hackers introduces Ordinals NFT collections supported by Bitcoin Hashrate

    2025-05-22

    FIFA starts Avalanche L1 to Power Soccer NFT Collectibles Platform

    2025-05-22

    Guild of Guardians leads with a huge volume of $ 796.62k

    2025-05-20

    Solana Meme Coin Ponke Set to release assembly objects, clothing via Jcorp Spinout

    2025-05-19

    The most popular collections of the moment on blockchain

    2025-05-18
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    Bitcoin on a confirmed breakout after reaching new all time high, says analyst Kevin Svenson-Hier is his prospects

    2025-05-22

    XRP price consolidates before the launch – is an outbreak on the horizon?

    2025-05-22

    Strategy tries to pick up $ 2.1 billion from the supply of STRF shares to strengthen its bitcoin holdings

    2025-05-22

    Solana (SOL) strives higher with strong copper support, next stop $ 200?

    2025-05-22

    Bitcoin price reaches new all time above $ 111,000

    2025-05-22
  • Learn

    What Is a DEX (Decentralized Exchange)?

    2025-05-21

    Blockchain Explained: What It Is, How It Works and Why We Need It

    2025-05-21

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Analysis»Founder of Synthetix (SNX) announces new project to compete with centralized exchanges
Analysis

Founder of Synthetix (SNX) announces new project to compete with centralized exchanges

2023-07-16No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

The founder of Ethereum (ETH)-based decentralized finance (DeFi) protocol Synthetix (SNX) has announced the launch of a new project that he says aims to compete with centralized exchanges (CEXs).

In a new blog post, Kain Warwick explains why he wants to launch an exchange when the Synthetix ecosystem already has Kwenta, a DEX that aims to provide zero-slippage trading for synthetic perpetual futures on crypto, forex or commodities.

Synthetix uses Ethereum layer-2 Optimism (OP), but Warwick says more value can be captured by building an exchange that users can access without having to directly navigate blockchain and DeFi.

“I’m sure you’re asking, ‘Why the hell do we need another front-end, we already have that [Kwenta]?’ I believe it’s time to compete directly with CEXs. But that means compromise. The infrastructure is ready. It’s time to switch to user acquisition mode.

Despite years of dragging it over broken glass, I still love Optimism. But Optimism is still an isolated island, far from the [Ethereum] mainland. Not everyone is ready to embark on a seven-day journey to reach this island, no matter how beautiful the beaches are. Are we waiting for these lazy people to come to their senses? I tried that. It didn’t turn out as well as I had hoped.”

The DeFi veteran suggests “Infinex,” the possible name for a Synthetix-powered centralized exchange that users can access with just a username, email, and password.

“The trader logs in with a username, password and email address – that’s all it takes.

Username and password you say?

To maximize the user experience, Infinex generates a new public-private key pair for each user and stores it in the browser on the client side. However, this key cannot withdraw money. It is only used to sign transactions sent to the Account Relayer on Optimism…

When the trader clicks on deposit, a unique deposit address is generated for them. They can send USDT, USDC or sUSD to this deposit address. These funds are dragged into the margin pool, controlled through governance.”

Don’t Miss Out – Subscribe to receive email alerts delivered straight to your inbox

Check price action

follow us on Twitter, Facebook And Telegram

Surf the Daily Hodl mix

Image generated: Midway through the journey



Source link

See also  Ethereum - Price explodes beyond $ 2,200 with a 25% increase - Momentum builds up quickly
Announces Centralized Compete Exchanges Founder Project SNX Synthetix
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin on a confirmed breakout after reaching new all time high, says analyst Kevin Svenson-Hier is his prospects

2025-05-22

XRP price consolidates before the launch – is an outbreak on the horizon?

2025-05-22

Strategy tries to pick up $ 2.1 billion from the supply of STRF shares to strengthen its bitcoin holdings

2025-05-22

Solana (SOL) strives higher with strong copper support, next stop $ 200?

2025-05-22
Add A Comment
Leave A Reply Cancel Reply

Top Posts

‘Run It Back’ – Crypto Analyst Predicts Huge Rallies for Ethereum and Solana, Says October Will Be ‘Lightened’

2024-09-11

This new development could bring the Optimism (OP) price to a standstill

2023-09-19

Decentralized Exchange Altcoin Surges Nearly 70% in a Week Amid Huge Support for Proposed Token Supply Cuts

2023-12-28
Editors Picks

UNI Bullish Rebound Signals Upside, Targets $8.7 Resistance Going Forward

2024-10-02

Futureverse raises $54 million to pioneer AI-Metaverse integration

2023-07-25

ADV on centralized exchanges rose 46% in Q1 2023, report

2023-04-27

Gensler notes ‘don’t start talking about crypto’ and reaffirms that most digital assets are securities

2023-10-26
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Bitcoin on a confirmed breakout after reaching new all time high, says analyst Kevin Svenson-Hier is his prospects

Binance Coin: mapping BNBs away to $ 700 – how, when and what now?

Bitcoin climbs solo, without altcoins – risk alert for traders!

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$111,183.331.28%
  • ethereumEthereum(ETH)$2,644.923.38%
  • tetherTether USDt(USDT)$1.00-0.03%
  • rippleXRP(XRP)$2.420.88%
  • binancecoinBNB(BNB)$685.321.54%
  • solanaSolana(SOL)$178.783.67%
  • usd-coinUSDC(USDC)$1.000.05%
  • dogecoinDogecoin(DOGE)$0.2424433.75%
  • cardanoCardano(ADA)$0.804.23%
  • tronTRON(TRX)$0.2739201.89%
  • suiSui(SUI)$3.85-2.03%
  • hyperliquidHyperliquid(HYPE)$33.0817.79%
  • chainlinkChainlink(LINK)$16.623.02%
  • avalanche-2Avalanche(AVAX)$24.957.94%
  • stellarStellar(XLM)$0.3022093.15%
  • shiba-inuShiba Inu(SHIB)$0.0000152.76%
  • bitcoin-cashBitcoin Cash(BCH)$443.119.05%
  • hedera-hashgraphHedera(HBAR)$0.2033392.25%
  • unus-sed-leoUNUS SED LEO(LEO)$8.910.55%
  • the-open-networkToncoin(TON)$3.172.57%
  • polkadotPolkadot(DOT)$4.923.55%
  • litecoinLitecoin(LTC)$100.133.13%
  • moneroMonero(XMR)$387.92-2.47%
  • pepePepe(PEPE)$0.0000159.08%
  • bitget-tokenBitget Token(BGB)$5.240.26%
  • piPi(PI)$0.83-2.70%
  • daiDai(DAI)$1.000.02%
  • ethena-usdeEthena USDe(USDE)$1.00-0.02%
  • bittensorBittensor(TAO)$462.042.05%
  • uniswapUniswap(UNI)$6.362.66%
  • aaveAave(AAVE)$254.161.18%
  • nearNEAR Protocol(NEAR)$3.056.56%
  • aptosAptos(APT)$5.667.44%
  • ondo-financeOndo(ONDO)$1.013.42%
  • okbOKB(OKB)$52.660.59%
  • kaspaKaspa(KAS)$0.1167943.52%
  • internet-computerInternet Computer(ICP)$5.665.86%
  • ethereum-classicEthereum Classic(ETC)$19.593.42%
  • official-trumpOFFICIAL TRUMP(TRUMP)$14.53-0.12%
  • gatechain-tokenGateToken(GT)$21.810.13%
  • crypto-com-chainCronos(CRO)$0.1000952.92%
  • render-tokenRender(RENDER)$5.137.61%
  • vechainVeChain(VET)$0.0304564.92%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2503173.54%
  • mantleMantle(MNT)$0.762.88%
  • ethenaEthena(ENA)$0.4107752.69%
  • worldcoin-wldWorldcoin(WLD)$1.5025.24%
  • usd1World Liberty Financial USD(USD1)$1.00-0.01%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.877.94%
  • arbitrumArbitrum(ARB)$0.4255082.69%
  • bitcoinBitcoin(BTC)$111,183.331.28%
  • ethereumEthereum(ETH)$2,644.923.38%
  • tetherTether USDt(USDT)$1.00-0.03%
  • rippleXRP(XRP)$2.420.88%
  • binancecoinBNB(BNB)$685.321.54%
  • solanaSolana(SOL)$178.783.67%
  • usd-coinUSDC(USDC)$1.000.05%
  • dogecoinDogecoin(DOGE)$0.2424433.75%
  • cardanoCardano(ADA)$0.804.23%
  • tronTRON(TRX)$0.2739201.89%
  • suiSui(SUI)$3.85-2.03%
  • hyperliquidHyperliquid(HYPE)$33.0817.79%
  • chainlinkChainlink(LINK)$16.623.02%
  • avalanche-2Avalanche(AVAX)$24.957.94%
  • stellarStellar(XLM)$0.3022093.15%
  • shiba-inuShiba Inu(SHIB)$0.0000152.76%
  • bitcoin-cashBitcoin Cash(BCH)$443.119.05%
  • hedera-hashgraphHedera(HBAR)$0.2033392.25%
  • unus-sed-leoUNUS SED LEO(LEO)$8.910.55%
  • the-open-networkToncoin(TON)$3.172.57%
  • polkadotPolkadot(DOT)$4.923.55%
  • litecoinLitecoin(LTC)$100.133.13%
  • moneroMonero(XMR)$387.92-2.47%
  • pepePepe(PEPE)$0.0000159.08%
  • bitget-tokenBitget Token(BGB)$5.240.26%
  • piPi(PI)$0.83-2.70%
  • daiDai(DAI)$1.000.02%
  • ethena-usdeEthena USDe(USDE)$1.00-0.02%
  • bittensorBittensor(TAO)$462.042.05%
  • uniswapUniswap(UNI)$6.362.66%
  • aaveAave(AAVE)$254.161.18%
  • nearNEAR Protocol(NEAR)$3.056.56%
  • aptosAptos(APT)$5.667.44%
  • ondo-financeOndo(ONDO)$1.013.42%
  • okbOKB(OKB)$52.660.59%
  • kaspaKaspa(KAS)$0.1167943.52%
  • internet-computerInternet Computer(ICP)$5.665.86%
  • ethereum-classicEthereum Classic(ETC)$19.593.42%
  • official-trumpOFFICIAL TRUMP(TRUMP)$14.53-0.12%
  • gatechain-tokenGateToken(GT)$21.810.13%
  • crypto-com-chainCronos(CRO)$0.1000952.92%
  • render-tokenRender(RENDER)$5.137.61%
  • vechainVeChain(VET)$0.0304564.92%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2503173.54%
  • mantleMantle(MNT)$0.762.88%
  • ethenaEthena(ENA)$0.4107752.69%
  • worldcoin-wldWorldcoin(WLD)$1.5025.24%
  • usd1World Liberty Financial USD(USD1)$1.00-0.01%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.877.94%
  • arbitrumArbitrum(ARB)$0.4255082.69%