Synthetix founder realizes: It’s DeFi that’s wrong, not the market

He invented yield farming, has a Boomer-level property portfolio, and now Synthetix founder Kain Warwick has a plan to reinvent DeFi.

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Synthetix founder Kain Warwick awoke one morning in May last year with a realization: Somethings wrong here. Were approaching this in the wrong way.

After launching Synthetix Perps v2 in late 2022, Synthetix founder Kain Warwick expected the new decentralized perpetual futures exchange would take a massive bite out of the Binance-dominated derivatives market.

Six months later, Warwick woke up one morning to the realization that wasnt going to happen for two reasons: 1) Most traders still dont want to use DeFi, and 2) The build it, they will come mantra is stupid.

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