Web3 investment firm injects $20M into Synthetix ecosystem through new partnership.
Tokenized asset issuance platform Synthetix has secured a $20 million investment through a new partnership with Web3 investment and quantitative trading firm DWF Labs.
Synthetix’ perpetual futures will be integrated into DWF Labs’ trading business as part of the deal. DWF Labs has also committed to purchase another $5 million worth of SNX tokens once the integration of Synthetix’ services has been completed.of real-world assets into derivatives called Synths, which provide exposure to a range of different assets. Holding SNX tokens allows users to create Synths by locking tokens into a smart contract and minting Synths against the corresponding value.
The creation of on-chain synthetic assets tracks the value of real-world assets, which includes synthetic fiat currencies or commodities like Gold and financial instruments like equity indices.
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