Decentralized finance projects are flooding the market every day. Technological evolution brings new changes to the crypto industry and investors are on the lookout for the best deals. So what would you say if you were offered a financial primitive to create synthetic assets with the same value as real-world assets?
Synthetix, a revolutionary platform?
The crypto sector is subject to many forces. In such a competitive and complex field, development is the best option to stay at the top. The massive adoption of cryptocurrencies is pushing creators to review their codes to facilitate the investment and use of blockchains.
With the difficulties currently facing the sector, Synthetix is positioned as the best option when it comes to DeFi projects. Based on Ethereum, the blockchain-based distributed asset insurance protocol, formerly known as Havven, offers a new financial primitive to users.
Indeed, the protocol allows a whole new functionality to its users, that of issuing and trading decentralized synthetic assets. The Synthetix ecosystem gives liquidity to the underlying assets. This, while offering a high level of accessibility to new trading strategies and traditional financial assets.
Moreover, it can also provide capital for different components of the ecosystem to traders as a reward. In addition, the DeFi protocol also allows users to participate in the ecosystem even if they do not hold any assets offered by the platform. How ? Through its exposure to a wide range of crypto and non-crypto assets through a decentralized method.
Strong partnerships to better understand cryptos
The cryptosphere is full of many contours that you need to know if you want to invest in cryptocurrencies. However, Synthetix does not just offer cryptographic services. Indeed, the protocol allows investors to trade, mint and hold several derivative products.
But also stocks, commodities and even fiat currencies. They can also do this for certain cryptocurrencies like bitcoin. To achieve its objectives, the open source protocol based on the Ethereum blockchain has surrounded itself with several collaborators. Among others, Bungee exchange and Socket.
All these partnerships have one goal, to allow users to rally assets from and to Optimism. Currently, there are more and more partnerships between different platforms to improve their offers and satisfy their customers. Moreover, the development of Ethereum could also have a positive impact on the Synthetix ecosystem in the long term.
The development of cryptos, Web3 and DeFi pushes creators to seek and find new methods to better attract investors. With a sector that is gaining a little more space every day, the functionalities of Synthetix will undoubtedly be an asset. Indeed, exposure to real-world assets on the blockchain could only be beneficial!
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