Blockchain News

Synthetix Unveils New Decentralized Asset Management Platform

Synthetix unveiled new decentralized asset management platform dHedge which is emerging out of stealth mode.

dHedge will add value to the platform and its users. It should be understood that the asset management platform will be taking advantage of non-custodial mimetic trading for Synths, or tokens that provide exposure to assets such as gold, Bitcoin and the U.S. dollar on the Ethereum blockchain.

“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,” Synthetix founder Kain Warwick said.

The company also asserted that it is creating new ways to use the derivatives liquidity the Synthetix protocol enables.

Meanwhile, the native platform is supposed to play a huge role. The newly established dHedge will be supported by Framework Ventures, Three Arrows Capital, BlockTower Capital, DACM and Maple Leaf Capital.

Synthetix will be competing with Ethereum’s Ropstein testnet over the next few weeks of time. It is essentially to introduce cryptotraders to the dHedge platform.

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