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NewsSynthetix Co-founder Launches Infinex to Lower Entry Barriers for DeFi

Synthetix Co-founder Launches Infinex to Lower Entry Barriers for DeFi

May 14,2024,00:59

Reported by The Block, Synthetix co-founder Kain Warwick has released Infinex, a front-end site that unifies decentralized finance applications into a single user-friendly layer.

The launch features what is called the Infinex Account, with a user waitlist process beginning today.

The objective of Infinex will be to lower the entry barriers typically associated with DeFi — such as complicated wallet setups, asset bridging and gas fees, the team noted. Early access is based on deposits and governance points granted.

The Infinex Account will feature cross-chain capabilities and is secured through passkey authentication and social sign-in options. This approach aims to address major barriers to using onchain applications by abstracting away usual complexities.

Kain Warwick, co-founder of Infinex, emphasized the platform’s aim to make decentralized finance more accessible and simpler for all users.

“Infinex will make it possible for everyone to use crypto and gain access to the expansive options of onchain trading without relying on someone’s centralized database and relinquishing control of their assets,” Warwick said.

The platform will operate alongside Synthetix, which has close to $500 million in deposits locked on the protocol. The project is co-founded by Wil Johnston.

The initial networks supported by Infinex currently include six blockchains: Ethereum, Solana, Polygon, Arbitrum, Optimism and Base.

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