Synthetix announced that its new decentralized asset management platform, dHedge, is coming out secretly.
dHedge uses the unguarded mime trading of synths – or tokens – that enables exposure to assets such as gold, bitcoin and the US dollar in the Ethereum blockchain.
The founder of Synthetix, Kain Warwick said that dHedge will use the full force of the protocol. He added:
“dHedge is one of the first platforms to take full advantage of the power of the Synthetix protocol. I’m excited to see the impact not only on the Synthetix ecosystem, but also on DeFi in general. I can’t wait to see what dHedge will do. ” the coming weeks and months. “
The company said that dHedge “creates new ways to use the liquidity of derivatives that the Synthetix protocol allows”. The local government token, DHT, will play a role in decentralization. Framework Ventures, Three Arrows Capital, BlockTower Capital, DACM and Maple Leaf Capital support dHedge.
The core network will be launched in September after an intelligent contract audit.
Synthetix will host a competition on Ethereum’s Ropstein test network over the next two weeks to introduce cryptocurrency traders to the dHedge platform. First place wins 37,000 DHT plus an additional SNX network token (Synthetix) and its own channel on dHedge’s Discord.
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