Infinex

Infinex is a platform that combines the streamlined UX of centralized exchanges with the security and self-custody safety of Decentralized Finance (DeFi). Users create their account using a passkey, and all assets are under their control at all times. They can then access the entire DeFi ecosystem through a simple standardized UI that feels like using Coinbase or Binance, but under the hood the funds are deposited into Aave, swapped in Uniswap, or eventually any of the other hundreds of DeFi protocols available.

This separation of concerns allows Infinex to focus on building the best user experience possible while thousands of developers create backend systems they can integrate with, so they can iterate faster than any vertically integrated centralized exchange. And because Infinex’s functionality is (almost) fully onchain, it unlocks the power of DeFi composability in a way centralized exchanges cannot, enabling emergent product features and use cases.

With traditional centralized exchanges you’re exposed to many risks, such as owners secretly stealing or misusing funds (ala FTX), or accidental risks of the developers introducing a bug that loses your money or creates downtime just when you need to trade the most (as with MTGOX). Infinex solves both of these issues. Firstly it gives you full control over your funds so it can never steal them, and secondly you as a user have the power to opt in to only the DeFi services you wish to use, keeping your funds as safe as possible even as the service expands to hundreds of offerings.

Infinex solves the risks centralized exchanges have, as well as the problems existing DeFi products face — replacing fragmented, complex user interfaces with an experience better than either existing option today.

Our Thesis

We believe much of the global financial system will eventually run on blockchain rails. Similar to Linux, it will eat away at the legacy systems; replacing centralized, opaque, inefficient middleware with fast settling, open source, decentralized software. Infinex takes us one step closer to this future by giving users the same experience they have using centralized exchanges today, but on a more open, secure, and decentralized backend.

Furthermore we believe for DeFi to really gain adoption, it must have a user experience as good as if not better than any Web 2.0 website today. This is why we invested in e.g. Privy and Kiln in the past, and why we are excited to be backing Infinex today.

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