DeFi options platform uses social logins, margin trading to draw in liquidity
Developers claim Synquote handled a trade of over $1 million of notional volume in its beta with no detectable slippage. A DeFi options platform launched that uses social login s and undercollateralized trading to draw in liquidity providers, according to a June 15 announcement . The protocol, called “Synquote,” is capable of handling large trades with much less slippage than previous options platform s, the team claimed. Synquote user interface. Source: Synquote According to the announcement, Synquote did over $25 million of notional volume in its beta period, which began on March 17. The largest trade during this period was for $1 million in notional volume, which was executed without any detectable slippage, developers told Cointelegraph. In a conversation with Cointelegraph, Synquote founder Ahmed Attia explained the strategy the protocol uses to attract liquidity. First, it doesn’t use an automated market maker (AMM) to determine prices. Instead, an off-chain, peer-to-peer...