• The Synthetix Treasury Council has announced a strategic partnership with DWF Labs.
• DWF Labs will include Synthetix perpetuals in their trading operation and expand to be a substantial volume generator for the protocol.
• This agreement opens a new chapter in the Synthetix ecosystem’s narrative and shows how decentralized finance and blockchain-based platforms are becoming more popular.
The Synthetix Treasury Council Establishes Strategic Partnership with DWF Labs
The Synthetix Treasury Council has announced a strategic agreement with DWF Labs to increase SNX token liquidity and market making on both centralized and decentralized exchanges. As part of this collaboration, DWF Labs will include Synthetix perpetuals in their trading operation and expand to be a substantial volume generator for the protocol.
DWF Labs Raises $20 Million In Funding
On March 16th, DWF Labs completed the purchase of SNX tokens valued at $15,000,000 (USDC). A further purchase of $5,000,000 SNX will be made when the integration of Synthetix perpetuals is completed and trading has started. This brings their total funding to $20 million for this project.
Andrei Grachev Speaks About Dedication To The Ecosystem
The managing partner of DWF Labs, Andrei Grachev spoke about his team’s dedication to actively taking part in the Synthetix ecosystem. He shared his excitement for Synthetix and its potential to revolutionize financial innovation by leveraging deep liquidity and composability across various exchanges.
This Agreement Opens New Chapter For The Ecosystem
This agreement opens up opportunities within the DeFi field by allowing innovative hedging strategies as well as unique use cases that weren’t available before. On March 19th, according to Dune Analytics daily trading volume of perpetual swaps reached an all-time high (ATH) topping $400M in transactions.
Synthetix Wants To Strengthen Its Position In The Market
Synthetix wants to strengthen its position in the market by cooperating with DWF labs which would catch the attention of anyone interested in blockchain technology or financial innovation. With this alliance they hope to reach a larger audience while continuing to drive DeFi forward