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Synquote Exceeds $25M Notional Volume, Launches DeFi Options Trading Platform


News provided by

Synquote

Jun 15, 2023, 12:00 ET

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Synquote empowers traders with a CeFi level user experience and pricing on a DeFi exchange, delivering all the benefits of trustless trading without compromise.

SAN FRANCISCO, June 15, 2023 /PRNewswire-PRWeb/ -- Synquote, a leading decentralized options trading platform that allows market makers to quote options to on-chain traders, announces the launch of their crypto options margin trading platform after exceeding $25M notional volume during the beta period. Utilizing on-chain margin, collateralization and settlement, Synquote is designed to provide traders familiar with centralized exchanges with a similar experience with the added benefit of increased transparency, reduced counterparty risk, and direct control over their funds.

"There has never been a DeFi options trading platform that solves the supply side of the problem for an average trader," stated Simon Grove, Head of Trading at CMT Digital, an investor in the platform. "Aiming to provide a Robinhood-like experience for DeFi, Synquote strikes the perfect balance between the needs of users and market makers. This is a huge step forward for the DeFi derivatives sector."

Aiming to provide a Robinhood-like experience for DeFi, Synquote strikes the perfect balance between the needs of users and market makers. This is a huge step forward for the DeFi derivatives sector.

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To-date, DeFi options protocols have had trouble scaling to meet the needs of traders. Current DeFi options traders have to deal with insufficient liquidity and high fees. The launch of Synquote's platform solves this problem by introducing CeFi level pricing and liquidity for the first time to DeFi traders. In addition, Synquote takes a leap forward by offering an array of distinctive advantages: the absence of transaction fees, the inclusion of fiat deposits, and a streamlined onboarding process which caters to both web3 veterans and newcomers alike.

"Traders should not have to compromise on pricing or user experience to trade on a decentralized options exchange," said Brett Gibson, Managing Partner at Initialized Capital. "Synquote's long-time focus on delivering institutional-grade liquidity to the everyday user on a decentralized exchange and packaging that into an excellent end-to-end experience is a game changer for the space."

Founded in 2021 by Ahmed Attia, a former engineer at Google, Synquote is a team of engineers and traders with an extensive background in decentralized finance and options trading. The company offers on-chain trading options with capital efficiency on Arbitrum.

"Through the use of Arbitrum's scaling solutions, Synquote strives to bring capital efficiency to options traders," stated Ed Felten, Chief Scientist and Co-Founder of Offchain Labs, builders of Arbitrum. "This is a new and exciting opportunity for traders in DeFi."

"Ahmed and his team continue to bring much needed innovation to the DeFi space," stated Imran Khan, Core Contributor at Alliance DAO. "They are changing the game in DeFi trading making it more appealing and accessible to both CeFi and DeFi traders."

To learn more about Synquote, please visit Synquote.com or follow them on Twitter.

For media inquiries, please contact hello(at)synquote(dot)com.

About Synquote
Synquote is a decentralized options trading platform with on-chain margin, collateralization and settlement. Synquote offers trade options with the security of Ethereum's network and powered by optimistic rollup technology.

Media Contact

Synquote, Synquote, (310) 260-7901, [email protected]

SOURCE Synquote

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