NEAR Protocol and Infinex are revolutionizing the user experience in Decentralized Finance (DeFi) sector.
In a bid to compete with centralized exchanges in terms of user experience, Infinex, a leading player in the decentralized finance (DeFi) space, has partnered with NEAR Protocol to enhance the DeFi user experience and interoperability. This collaboration aims to simplify interactions across multiple blockchains, addressing key obstacles to widespread DeFi adoption.
The partnership prioritizes seamless cross-chain asset transfers and swaps, allowing users to move traditionally non-smart contract coins easily across decentralized networks. NEAR Protocol's innovative technologies, NEAR Intents and Chain Signatures, play a crucial role in this endeavour. These technologies enable users to define desired outcomes, and the network handles execution across different chains transparently, thereby simplifying the bridging of assets lacking native smart contract compatibility.
The collaboration aims to create DeFi interfaces competitive with centralized exchanges by reducing complexity and improving accessibility. With this, NEAR Protocol and Infinex are addressing the fragmented infrastructure challenge currently limiting mass DeFi participation.
Infinex supports on-chain protocols across 14 blockchain networks, and with NEAR’s technology integration, users gain better access to cross-chain financial operations such as bridging, swapping, and use of decentralized derivatives, all with less friction and gas cost concerns.
In a recent fireside chat, NEAR Protocol founder Illia Polosukhin and Infinex founder Kain Warwick discussed the importance of interoperability for crypto adoption. Polosukhin, who envisions a future where users can use any money they have in their pocket across any app or platform, believes that pain points remain for crypto investors, especially beginners. NEAR Protocol aims to simplify the experience by reducing fragmentation in the multitrillion-dollar crypto industry.
Warwick, on the other hand, believes that every crypto cycle is different, and there's no edge during a bull run. He uses Ethereum's recent price surge as an example of "narrative follows price." Warwick is bullish about the rest of the year and even into next year, citing surging institutional interest in Bitcoin.
The integration of NEAR Intents and Chain Signatures in June has already enabled easier swapping and bridging of non-smart contract cryptocurrencies across multiple blockchain networks. NEAR Protocol's mission to reduce fragmentation in the crypto industry is undoubtedly a step towards creating a more interconnected and user-friendly DeFi ecosystem.
- Infinex, in partnership with NEAR Protocol, strives to improve the DeFi user experience and interoperability, aiming to compete with centralized exchanges.
- The partnership involves simplifying interactions across multiple blockchains, a key step towards widespread DeFi adoption.
- SEAMLESS cross-chain asset transfers and swaps are prioritized, allowing non-smart contract coins to move freely across decentralized networks.
- NEAR Protocol's technologies, NEAR Intents and Chain Signatures, are instrumental in achieving these goals, enabling users to execute transactions across different chains.
- The collaboration targets the creation of DeFi interfaces as competitive as centralized exchanges, reducing complexity and improving accessibility.
- Infinex, supporting 14 blockchain networks, benefits from NEAR’s technology integration, providing users with better access to cross-chain financial operations.
- In a recent discussion, NEAR Protocol founder Illia Polosukhin and Infinex founder Kain Warwick highlighted the importance of interoperability for crypto adoption.
- Polosukhin envisions a future where users can use any digital asset across any app or platform, aiming to reduce fragmentation in the crypto industry.
- Warwick, on the other hand, believes that every crypto cycle is unique and there's no guaranteed edge during a bull run, using Ethereum's price surge as an example of "narrative follows price."
- The integration of NEAR Intents and Chain Signatures in June has already facilitated easier swapping and bridging of non-smart contract cryptocurrencies, moving towards a more interconnected and user-friendly DeFi ecosystem.
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