Decentralized finance protocol Synthetix is preparing to expand its range of affiliated products.

Synthetix founder Kain Warwick revealed intentions to introduce a new derivatives front-end called Infinex to the decentralized trading infrastructure of Synthetix. The upcoming exchange will cater to novice and experienced traders by offering features similar to centralized exchanges (CEX), such as a noncustodial central limit order book.

While Synthetix already operates Kwenta, a derivatives decentralized exchange (DEX) on Optimism, Warwick highlighted key issues with the current platform. For instance, traders are required to bridge assets to the layer-2 rollup and exchange them for sUSD, Synthetix’s stablecoin used as margin collateral, before they can begin trading.

Adding to the inconvenience, each order or cancellation on the existing platform necessitates the trader’s wallet signature, incurring a small fee. In the blog post, Warwick emphasized that the goal is to eliminate any skepticism surrounding the ability of decentralized perpetuals (Perps) to directly rival centralized exchanges.

Being on a noncustodial decentralized exchange offers advantages, and Warwick playfully mocked the now-defunct FTX and

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Author: Amaka Nwaokocha

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