Decentralized finance projects flood the market every day. Technological evolution brings new changes to the cryptocurrency industry and investors are looking for the best deals. So what would you say if you were offered a finance primitive to create synthetic assets with the same value as real world assets?
Synthetix, a revolutionary platform?
The cryptocurrency industry 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 prompting creators to review their codes to facilitate the investment and use of blockchains.
With the difficulties the industry is currently facing, Synthetix positions itself 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 users a new financial primitive.
Indeed, the protocol allows its users a completely new functionality, that of issuing and trading decentralized synthetic assets. The Synthetix ecosystem provides liquidity to the underlying assets. This, while offering a high level of accessibility to new trading strategies and traditional financial assets.
Furthermore, it can also provide capital for different ecosystem components to traders as a reward. Furthermore, the DeFi protocol also allows users to participate in the ecosystem even if they do not own any assets offered by the platform. How ? Through its exposure to a wide range of cryptographic and non-cryptographic assets through a decentralized method.
Strong partnerships to better understand cryptocurrencies
The cryptosphere is filled with many contours that you need to know if you want to invest in cryptocurrencies. However, Synthetix doesn’t just offer cryptographic services. Indeed, the protocol allows investors to trade, mint and hold various derivative products.
But also stocks, commodities and even fiat currencies. They can also do this for some cryptocurrencies such as bitcoin. To achieve its goals, the Ethereum blockchain-based open source protocol surrounded itself with several collaborators. Among others, Bungee exchange and Socket.
All of these partnerships have one goal, to allow users to gather resources to and from optimism. Currently, there are more and more partnerships between different platforms to improve their offerings and satisfy their customers. Furthermore, the development of Ethereum could also have a positive impact on the Synthetix ecosystem in the long term.
The development of cryptocurrencies, Web3 and DeFi pushes creators to seek and find new ways to better attract investors. With an industry gaining more and more space every day, Synthetix’s features will undoubtedly be an advantage. In fact, exposure to real-world assets on the blockchain could only be beneficial!
Get a summary of what’s new in the world of cryptocurrencies by signing up for our new servicedaily and weekly so as not to miss any of the indispensable Cointribunes!
The world is changing and adaptation is the best weapon to survive in this undulating universe. As the crypto community manager at the base, I am interested in anything directly or indirectly related to the blockchain and its derivatives. To share my experience and introduce a field that fascinates me, nothing better than writing informative articles and relax at the same time.