Less than six months into 2021 and we’ve witnessed unprecedented growth in the market cap of the crypto market. With premier coin Bitcoin reaching new all-time highs and currently struggling to stay up, the crypto market has been blessed with a ton of trends and sub-trends that have managed to rake in billions of dollars, as reported by the leading crypto analytics website CoinGecko.
The decentralized finance [DeFi] trend happens to be the most valuable of the crypto trends right now. With billions locked in TVL [total value locked], there are endless opportunities for this emerging market. In an attempt to tap from this market, a ton of decentralized derivatives platforms have been launched to aid users to facilitate trades.
Projects like Synthetix, Mirror, and UMA have all been designed to offer users an array of approaches or methods to access synthetic assets. Synthetix, the dominant decentralized derivatives platform, according