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Synthetix Gets $20M Investment Boost From Market Makers DWF Labs!

Key Points:

Investment firm DWF Labs has made a substantial investment of $20 million in SNX , an on-chain liquidity and derivatives trading protocol.
DWF Labs’ investment in SNX comes less than a week after its $10 million purchase of Orbs Network’s native token ORBS.
DWF Labs’ investment in SNX is a significant endorsement of the protocol and its potential to revolutionize the derivatives trading market.

Investment firm DWF Labs has made a substantial investment of $20 million in Synthetix, an on-chain liquidity and derivatives trading protocol.

The investment was announced by the Synthetix Treasury Council via email on Monday. DWF Labs purchased $15 million worth of Synthetix’s native token SNX on March 16, with a further purchase of $5 million to follow.

The aim of the investment is to integrate Synthetix’s perpetual into DWF Labs’ trading business, with the goal of significantly increasing the protocol’s trading volume. Synthetix is an Ethereum-based decentralized asset issuance protocol blockchain, which enables users to mint and trade synthetic assets that track the value of real-world assets such as gold and stocks.

DWF Labs’ investment in SNX comes less than a week after its $10 million purchase of Orbs Network’s native token ORBS. Orbs Network is a blockchain infrastructure provider whose token has seen the growth of 14.5% in the last seven days.

DWF Labs’ investment in SNX is a significant endorsement of the protocol and its potential to revolutionize the derivatives trading market. With DWF Labs’ support, Synthetix is well-positioned to attract more users and increase its trading volume, making it a key player in the rapidly growing decentralized finance (DeFi) ecosystem.

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Annie

Coincu News

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.