Synthetix, a decentralised finance protocol, is planning to expand its range of affiliated products, stated Cointelegraph.
Sources revealed that Kain Warwick, founder, Synthetix, was planning to introduce Infinex, a new derivatives front-end, to the decentralised trading platform of Synthetix. It is expected that the upcoming exchange might offer users features that are similar to centralised exchanges (CEX), such as a non-custodial central limit order book, Cointelegraph added.
Supposedly, “It’s become increasingly clear that the impediments to Synthetix Perps growth can be resolved, but this will require a new approach,” Cointelegraph explained.
It is expected that the planned DEX will enable users to get access through a username and password, along with keeping a non-custodial setup. Furthermore, Warwick mentioned that Infinex might be able to create a unique public-private key pair for each user. These are expected to be stored locally in the browser, only used for signing trade orders and not for fund withdrawals, Cointelegraph concluded.
(With insights from Cointelegraph)