Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Synthetix, a protocol for decentralized synthetic assets, is planning to launch Infinex, a perpetual contracts trading platform, in a move to rival centralized exchanges directly.in a blog post that Infinex wants to tackle challenges typically associated with CEXs, aiming to provide the efficiency of a centralized platform without sacrificing security.
Infinex will release alongside Synthetix V3, the project’s forthcoming decentralized derivatives protocol, later this year. A beta testing phase is currently in progress, and interested users can join a waiting list on the Infinex website.The registration process on Infinex will resemble that of a centralized exchange, requiring only a username, password, and email, Warwick wrote.
Rather than having its own native token, Infinex’s governance will be managed through the Synthetix token. Warwick indicated that the platform plans to generate revenue through multiple mechanisms, including trading fees and fees from SNX liquidity provision. Perpetual contracts, often referred to as"perpetuals" in the crypto industry, are a type of futures contract. Unlike traditional futures contracts, which carry an expiration date, perpetual contracts do not expire. These contracts are the most popular types of derivatives in the crypto sector. Currently, dYdX leads this niche, with over© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only.