After several setbacks, the decentralized finance (DeFi) platform Infinex will officially launch on May 13.
Synthetix founder Kain Warwick made the announcement. This much-anticipated launch follows a delay from its initial target of the fourth quarter of 2022.
Infinex Reveals Launch Date
Infinex introduces a new approach to DeFi, merging traditional web interfaces with blockchain technology to enhance user experience. This DeFi platform aims to allow traders to interact seamlessly with multiple decentralized applications across various blockchains. These include Ethereum, Base, Optimism, Polygon, Arbitrum, and Solana.
The unique selling point of Infinex is its Infinex Account, which Warwick describes as a “collection of cross-chain smart contracts.” These can be controlled securely and recovered to reduce the typical friction associated with standard Web3 interfaces. Indeed, users can access their accounts through familiar Web2 gateways like Google accounts.
“Infinex’s mission is to accelerate mainstream on-chain adoption. To do this, we are unifying decentralized ecosystems and applications under a single UX layer, built specifically for a Web2 audience,” Warwick wrote.
He also highlighted that Infinex offers innovative engagement through a points-farming game scheduled for a month after launch. This game will enable users to earn governance points by depositing them into their accounts.
Read more: Top 11 DeFi Protocols To Keep an Eye on in 2024
Security concerns have been paramount for Infinex, especially following a security breach due to a social engineering attack. This incident expedited a comprehensive overhaul of the system. Regardless, Warwick confidently stated that the rebuilt platform is “one of the most secure environments I’ve ever worked in.”
Looking forward, Warwick is optimistic about the platform’s growth. He hopes to see Infinex achieve $50 million in total value locked and attract 10,000 active users within the first-month post-launch. These figures are grounded in the reality of a 200,000-strong waitlist despite acknowledging that many need to be genuine users.
Trusted
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
