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DeFi options platform uses social logins, margin trading to draw in liquidity

Published 06/15/2023, 11:00 AM
Updated 06/15/2023, 12:40 PM

A DeFi options platform using social logins and undercollateralized trading to draw in liquidity providers just launched, according to a June 15 announcement. The protocol, called “Synquote,” is capable of handling large trades with much less slippage than previous options platforms, the team claims.

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.

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