Decentralized finance (DeFi) platform Infinex has announced plans to list the top 500 crypto assets and launch an updated version of its platform in early 2025.
In an interview at Near's Redacted conference in Bangkok, Thailand, Infinex founder Kain Warwick told Cointelegraph editor Andrew Fenton about the DeFi platform's plans to list the top 500 crypto assets and the launch of the version 2 (v2) of the platform.
Infinex currently supports 100 tokens, including Solana Program Library (SPL) tokens, non-fungible tokens (nft), and ERC-20 tokens.
Infinex founder Kain Warwick at the Redacted Conference in Bangkok. Source: Cointelegraph
Warwick said there is a proposal in governance that would expand token support five-fold, with the goal of including the top 500 assets on platforms like CoinGecko and CoinMarketCap. This would include tokens from Solana, ethereum and ethereum layer 2 solutions:
“We have a governance proposal right now that will unlock the top 500 assets on CoinGecko and CoinMarketCap, which will mean that anything that is on Solana, ethereum, or one of the ethereum L2s will be supported.”
However, Warwick noted that legacy chains like bitcoin and Litecoin may take longer to integrate.
Related: 'nft sponsors' could be the answer to 'broken' crypto fundraising model – Kain Warwick
Infinex v2 will arrive in early 2025
In addition to his plans to include more tokens, the executive also told Cointelegraph about his upcoming v2 release and the improvements that will be implemented.
According to Warwick, version two would improve the platform's integration cadence. The executive said that, at the moment, each integration requires onchain code, which Warwick described as “too slow.” Warwick explained:
“The way we improve this is by giving you Vault, which is the ultra-secure place for you to put your funds, but we also give you a hot wallet that can interact with contracts.”
Despite having a hot wallet, Warwick said the funds will not be stored within the hot wallet, but will be there on a “transitory” basis. He added that the assets would be stored in the vault, but would only be sent to the hot wallet once users wanted to sell or list the assets.
He noted that the new setup will allow Infinex to integrate with nft platforms like OpenSea and Blur in two to three weeks, compared to the two to three months it currently takes.
“We need something that is much more scalable, so the new v2 architecture will open up many more integrations, much faster, and allow us to move much more quickly,” Warwick added.
When asked about the v2 release date, the executive did not reveal a specific date, but told Cointelegraph that it would be released “early next year.”
Magazine: Kain Warwick, founder of Synthetix: It's DeFi that's wrong, not the market
