Synthetix, a protocol that is providing the trading of digital assets has recently announced the launch of dHedge. dHedge is a decentralized asset management platform which is aiming towards non-custodial mimetic trading to Ethereum. Synthetix is a platform that allows the users to mint, trade and holds derivatives which are based on assets. The assets will include all the cryptocurrency or fiat currencies and commodities.
Native governance token of dHedge is DHT
It has been revealed that dHedge will be launching with a trading competition on Synthetix network token (SNX) and DHT. DHT is a native governance token of dHedge and has been specially designed to enable decentralization. It has also been announced that 125,000 DHT and 5,000 SNX are available as prizes that will be given to the best performing asset managers. It has been specified that the major purpose of this competition is to introduce non-custodial mimetic trading. Along with this, it will also be building awareness and aiming to create a community on dHedge platform for all the asset managers. The platform is backed by a lot of crypto investment firms which also includes Framework Ventures, BlockTower Capital and many others. The firm is aiming towards democratising the investment experience which will be done through leveraging the capabilities of Ethereum and Synthetix.
The first platform to fully utilize Synthetix’s power
Kain Warwick, the CEO of Synthetix believes that dHedge is the only platform which is utilizing the complete power of their platform. Both the firms are extremely excited for this collaboration and it is going to have a great impact on complete DeFi protocol. Along with this, it is going to prove great for the ecosystem of Synthetix as well. Warwick seems to extremely excited to see what the firm is going to ship in the coming weeks and months.
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