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Token Trading Platform Synthetix Partners With Six New Institutional Liquidity Providers
Summary: Token trading platform Synthetix has received over $4 million worth of investments from six new institutional partners who will provide liquidity to the platform, according to a recent announcement. Synthetix is built on Ethereum and allows traditional assets like stocks or shares to be bought and sold using cryptocurrency. Anybody can join the network and ...
Token trading platform Synthetix has received over $4 million worth of investments from six new institutional partners who will provide liquidity to the platform, according to a recent announcement.
Synthetix is built on Ethereum and allows traditional assets like stocks or shares to be bought and sold using cryptocurrency. Anybody can join the network and provide collateral which allows the network to issue synthetic assets like Gold or Bitcoin. Participants in the network provide Synth liquidity and receive fees from trading on the platform as a reward.
Framework Ventures, Parafi Capital, DTC Capital, Three Arrows, and IOSG have joined the network as Synthetix partners to help power the derivatives liquidity platform. Institutional players are expected to help the network to greatly expand and the company plans to launch a Synthetic Futures project soon in addition to expanding its market in Korea and China.
By Emily Mason
Tags: DeFi,Institutional Investor,Synthetix
Link: Token Trading Platform Synthetix Partners With Six New Institutional Liquidity Providers [Copy]
