Decentralized financing projects are flooding the market every day. Technological evolution is bringing new changes to the crypto industry and investors are looking for the best deals. So what would you say if you were given a financial primitive to create synthetic assets with the same value as real 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 on top. The mass adoption of cryptocurrencies is forcing makers to revise their codes to facilitate the investment and use of blockchains.
With the difficulties the industry is currently facing, 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 for users.
Indeed, the protocol offers its users an entirely new functionality, namely issuing and trading decentralized synthetic assets. The Synthetix ecosystem provides liquidity to the underlying assets. This while providing a high level of accessibility to new trading strategies and traditional financial assets.
In addition, as a reward, it can also provide capital for various components of the ecosystem to traders. In addition, the DeFi protocol also allows users to participate in the ecosystem even if they do not have any assets offered by the platform. How ? Due to its exposure to a wide variety 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 only offer cryptographic services. Indeed, the protocol allows investors to trade, store and hold various derivatives.
But also stocks, commodities and even fiat currencies. They can also do this for certain cryptocurrencies such as bitcoin. To achieve its goals, the open source protocol based on the Ethereum blockchain has surrounded itself with various Staff members. Bungee exchange and Socket among others.
All of these partnerships have one goal: to enable users to collect assets to and from Optimism. Currently, there are more and more partnerships between different platforms to improve their offers and satisfy their customers. In addition, the long-term development of Ethereum could also have a positive effect on the Synthetix ecosystem.
The development of cryptos, web3 and DeFi is pushing makers to seek and find new methods to better attract investors. With a sector that is getting a little more space every day, Synthetix’s functionalities will undoubtedly be an asset. Indeed, exposure to real-world assets on the blockchain could only be beneficial!
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The world is changing and adaptation is the best weapon for survival in this undulating universe. As a crypto community manager at the grassroots, I am interested in everything directly or indirectly related to the blockchain and its derivatives. To share my experience and make known a field that fascinates me, there is nothing better than writing informative and relaxed articles at the same time.