Paul Atkins

Kwenta

DeFi

Synthetix

Cryptocurrency application developer Mass has launched a mobile decentralized finance (DeFi) trading app integrating Synthetix’s leveraged perpetuals platform, Synthetix told Cointelegraph on Dec. 12.&nbsp;
The app aims to combine onchain trading and self-custody with the design features of a centralized exchange app, Synthetix said. The app will let users trade perpetual futures with up to 25x leverage.&nbsp;
Perpetual futures, or “perps,” are a type of derivative that allows traders to buy or sell an asset at a future date with no expiration.
<figure><img alt="Mass, Synthetix to launch mobile DeFi perps trading app" src="https://s3.cointelegraph.com/uploads/2024-12/0193bb76-ae52-7391-ba91-cbd684577660" title="">
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 Source: <a data-ct-non-breakable="null" href="https://mass.money/" rel="noopener noreferrer nofollow" target="_blank" text="null" title="https://mass.money/">Mass.money</a>
 </figcaption>
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Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/synthetix-kwenta-launch-v3-perpetuals-arbitrum" rel="noopener noreferrer nofollow" target="null" text="null" title="https://cointelegraph.com/news/synthetix-kwenta-launch-v3-perpetuals-arbitrum">Synthetix, Kwenta launch v3 perpetuals on Arbitrum</a>
<h3 id="streamlined-onboarding">Streamlined onboarding</h3>
Synthetix hopes that “Mass’s simple onboarding and intuitive mobile app will help Synthetix products reach a broader audience of mobile users, beyond crypto natives,”&nbsp; Benjamin Celermajer, a Synthetix core contributor, told Cointelegraph.&nbsp;
“DeFi exchanges do not take custody of user funds, but are not nearly as user-friendly due to their decentralized architecture,” Synthetix said.
Mass’s mobile app includes features such as “Apple and Google logins, sponsored first transactions, a crosschain gas tank, and on/off-ramp options via SEPA, ACH, [and] credit/debit cards,” Synthetix said in a statement.&nbsp;
The app will be available in the United States, Europe and Asia, Mass told Cointelegraph in a statement.
<figure><img alt="Mass, Synthetix to launch mobile DeFi perps trading app" src="https://s3.cointelegraph.com/uploads/2024-12/0193bb74-69be-7c26-b96a-0bae878f2593" title="">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://stats.synthetix.io/" rel="noopener noreferrer nofollow" target="_blank" text="null" title="https://stats.synthetix.io/">Synthetix</a>
 </figcaption>
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<h3 id="governance-overhaul">Governance overhaul</h3>
In October, Synthetix tokenholders <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/synthetix-activist-investor-overhaul-almost-unanimous-approval" rel="noopener noreferrer nofollow" target="_self" text="null" title="https://cointelegraph.com/news/synthetix-activist-investor-overhaul-almost-unanimous-approval">voted overwhelmingly in favor</a> of a proposed governance shakeup after the protocol fell short of product delivery deadlines, including its planned v3 multi-collateral perpetuals launch on Arbitrum.
In a Sept. 25 SR-2 proposal, Celermajer, a longtime SNX investor, outlined a plan to “completely overhaul” and improve the governance and day-to-day operations of Synthetix.&nbsp;
Since then, Synthetix has taken numerous steps to improve operational efficiency and product marketing reach, including acquiring perps platform Kwenta and leveraged token trading platform TLX.
“These will play a core role in Synthetix’s new focus of bringing high-quality products to market,” Celermajer said.
Synthetix is also reorganizing as a foundation to “streamline and improve our capabilities regarding business activities that require signing contracts with partners,” among other potential benefits, Synthetix <a data-ct-non-breakable="null" href="https://blog.synthetix.io/synthetixs-bold-reboot-what-sr-2-means-for-the-future/" rel="noopener noreferrer nofollow" target="_blank" text="null" title="https://blog.synthetix.io/synthetixs-bold-reboot-what-sr-2-means-for-the-future/">said</a> in an October blog post.&nbsp;
In September, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/new-synthetix-app-chain-aims-for-snx-staking-cross-chain-perps" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Synthetix launched a new app chain</a> — SNAXchain — aimed at bringing crosschain liquidity and trading-fee revenues to native-token stakers and onchain trading products.&nbsp;
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoin-price-100k-donald-trump-paul-atkins-sec-gary-gensler-hodlers-digest/" rel="noopener noreferrer nofollow" target="null" text="null" title="null">BTC hits $100K, Trump taps Paul Atkins for SEC chair, and more: Hodler’s Digest</a>

Mass, Synthetix to launch mobile DeFi perps trading app

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Cointelegraph

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