Decentralized derivatives protocol Synthetix is launching a perpetual derivatives DEX on Ethereum, which will use a hybrid onchain-offchain order matching system to bypass Ethereum mainnet's latency and high gas fees.

The launch will debut with Bitcoin, Ethereum, and Solana derivatives with up to 50x leverage, surpassing most competitors, which typically offer between 20x and 40x leverage on their largest assets.

In the future, the Synthetix perp DEX plans to offer features including multicollateral margin, RWA support, incentives programs, and future integrations and compatibility across Ethereum DeFi, according to a press release shared with The Defiant.

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