The Synthetix project, known for its decentralized derivatives protocol, is gearing up to bridge the usability gap between centralized and decentralized exchanges with the imminent launch of the Synthetix V3 protocol and its decentralized exchange front-end, Infinex, scheduled for Q4.
Synthetix founder Kain Warwick sees Infinex as the missing component that could attract more users to DeFi (Decentralized Finance). He believes that while DeFi has come close to matching CeFi (Centralized Finance) in terms of liquidity, markets, depth, and execution time, it still lacks a crucial element.
Infinex, a decentralized perpetual futures exchange front-end, will operate on the Optimism network. Its primary goal is to simplify access to decentralized perpetuals for traders by eliminating friction points such as complex account controls and the need to authorize every transaction manually.
Kain Warwick emphasized that Infinex, being a front-end for the underlying derivatives protocol, will not initially impose geoblocking restrictions or KYC (Know Your Customer) limits on users. Instead, these decisions will be subject to decentralized governance and will require approval from SNX token holders.
Infinex will be launched alongside Synthetix V3, which serves as the foundational architecture for the front-end. This upgrade introduces permissionless markets, allowing anyone to create new markets and attract liquidity, similar to the permissionless pools seen in Uniswap.
The decentralized derivatives sector has gained traction among fund managers and traders, and many believe it has the potential to become a significant driver of growth for DeFi. As DeFi continues to evolve, initiatives like Infinex aim to enhance its usability and expand its user base.