Home Altcoins News Synthetix (SNX) Founder on Over correcting and Getting Blinded by Heuristics in Cryptocurrency Space

Synthetix (SNX) Founder on Over correcting and Getting Blinded by Heuristics in Cryptocurrency Space

Synthetix (SNX)

Kain Warwick, founder of Synthetix – the derivatives liquidity protocol in his tweets had expressed that there will be an explosion in demand for risk products over the next few years while more TradFi (traditional finance) money keeps flowing into crypto. He also pointed to how the current products are limited particularly for regulated entities and on how this trend is changing. This just implies that TradFi money will soon flow in to risk products offered in crypto.

Nayms are Smart Insurance Contracts developers for Digital Asset Risk. They have a deep understanding of traditional insurance market structures and they are applying it to crypto.  They are going to focus on insurance over custodial assets, which they are planning to expand eventually to different aspects of DeFi.

Kain recently expressed support for these products and he recalled on how previously, he was bearish on traditional insurance and on how he has a different view.

He pointed to how he is coming around to the idea that the insurance is complementary to structured products and risk swaps. He expressed that he is waiting for the first product to launch.

To adopt to the crypto the market will decide and it may take longer than one can imagine for market structures to mature and efficiencies to kick in; however, it will happen eventually. In the meantime, it’s up to everyone to collectively push things forward through investment in experimentation.

Kain felt that it is important to avoid creating privileged positions on how it is important to find ways to more of open funding mechanisms.  He stated that this is one reason for why the projects which are allocating large pools to yield farming are so effective.  He feels it permits price discovery to be market driven.

Kain states, the lesson is to not overcorrect and get blinded by simple heuristics and narratives. Most likely whoever is peddling them has an angle. He stated it is important to put the effort in to assess every situation on its merits.

Synthetix (SNX) Founder on Onboarding Process

Everything has an onboarding process.  People will have to change their behaviors which they are deeply ingrained with. People need to be walked through a process.

Kain recalls on how he initially thought developers are trying just a little too hard to do things that don’t scale, but he states that he now feels like laughing realizing without someone walking him though the first steps he might have likely dropped off within a few days.

Onboarding calls lead to some best user experiences in terms of changing the user perspective and streamlining the way they need to be looking at things.

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Steven Anderson

Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche. Send a tip to: 0x200294f120Cd883DE8f565a5D0C9a1EE4FB1b4E9

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