Synthetix unveils its new decentralized asset management platform dHedge, emerging out of stealth mode.
The new decentralized asset management platform takes benefit out of its non-custodial mimetic trading for Synths, or tokens that provide exposure to assets such as gold, Bitcoin and even the U.S. dollar on the Ethereum blockchain.
Synthetix founder Kain Warwickadded:
“dHedge is one of the first platforms to fully utilise the power of the Synthetix protocol. I’m extremely excited for its impact not just on the Synthetix ecosystem, but for DeFi at large. I can’t wait to see what dHedge will ship in the weeks and months ahead”.
The company said dHedge:
“is creating new ways to use the derivatives liquidity the Synthetix protocol enables.”
It’s native governance token, DHT, will play a significant role in decentralization.
dHedge is supported by large venture companies like:
- Framework Ventures
- Three Arrows Capital
- BlockTower Capital
- DACM
- Maple Leaf Capital
The mainnet will go live in September after a smart contract audit.
Meanwhile, Synthetix will run a competition on Ethereum’s Ropstein testnet over the next two weeks to introduce crypto traders to the dHedge platform.
The winner will bag 37,000 DHT plus an additional Synthetix Network Token (SNX) and their own channel on the dHedge Discord.
Source: Cointelegraph | Image: Unsplash
