Kain, the founder of Synthetix, issued a document stating that Infinex, a new decentralized perpetual contract exchange, was launched to compete with Binance and other centralized exchanges. Infinex has solved the main friction points of DEX such as high slippage/low liquidity, high fees, and high LP market risk. Infinex Beta Testing and other Beta Testing waiting lists are now live on infinex.io. Infinex will launch alongside Perps V3, an exact date has yet to be announced. Infinex generates a new public-private key pair for each user and stores it in the client browser. However, this key cannot withdraw funds. It is only used to sign transactions sent to the Optimism account relayer. When a trader clicks deposit, a unique deposit address will be generated for them. They can send USDT, USDC or sUSD to this deposit address. These funds are pooled into margin pools, which are controlled through governance. Once a user deposits funds, a new margin account is created on Optimism. Each user has a unique deposit address. This allows traders to verify their margin on-chain at any time. Traders can use USDC or USDT as margin, and Infinex lends them sUSD to trade. Users also have an emergency withdrawal feature that they can call directly if the account repeater fails. There will be no Infinex tokens for governance. The SNX token will govern Infinex, specifically the debt share tokens in the Synthetix protocol. Infinex will generate revenue through multiple mechanisms, bar OK incremental transaction fees, integration fees through the Synthetix Integrator Program, SNX LPing fees.