Synthetix has raised $20 million in partnership with Web3 investment firm DWF Labs.
DWF Labs purchased $15 million worth of Synthetix (SNX) this month. Announcing that it has also partnered with the project, DWF Labs will be tasked with increasing SNX token liquidity and market making on centralized and decentralized exchanges.
The Platform’s Daily Transaction Volume Exceeds $400 Million
Synthetix’s perpetual futures will be integrated into DWF Labs’ trading operations as part of the deal. However, DWF Labs has committed to purchase another $5 million worth of SNX tokens after the integration of Synthetix services is complete.
Synthetix offers users the ability to buy, sell and trade synthetic assets (synths) without the need for any underlying assets.
Commenting on the subject, Andrei Grachev, managing partner of DWF Labs, emphasized that the partnership provides facilitated trading mechanisms in the decentralized finance (DeFi) space and said: “Platforms now benefit from Synthetix’s deep liquidity and composability, making better transactions with lower slippage. can offer.”
According to data from Dune Analytics, Synthetix’s V2 platform surpassed $400 million in daily swap trading volume in March 2023.
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