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Decentralized finance (DeFi) platform Infinex has announced plans to list the top 500 crypto assets and release 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 platform’s version 2 (v2) release.
Currently, Infinex supports 100 tokens, including Solana Program Library (SPL) tokens, non-fungible tokens (NFTs) and ERC-20 tokens.
Infinex founder Kain Warwick at the Redacted Conference in Bangkok. Source: Cointelegraph
Warwick said a proposal is in governance that would expand token support by five times, aiming to include the top 500 assets on platforms like CoinGecko and CoinMarketCap. This would include tokens from Solana, Ethereum, and Ethereum layer-2 solutions:
“We’ve got a proposal in governance right now which will unlock the top 500-ish assets on CoinGecko and CoinMarketCap, which will mean anything that’s on Solana, Ethereum or one of the Ethereum L2s will be supported.”
However, Warwick noted that legacy chains like Bitcoin and Litecoin may take more time before they are integrated.
Related: ‘Patron NFTs’ could be answer to ‘broken’ crypto fundraising model — Kain Warwick
Infinex v2 coming early in 2025
In addition to its plans to list more tokens, the executive also told Cointelegraph about its upcoming v2 release and what improvements 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 that we improve that is we give you the 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 that the funds will not be stored within the hot wallet but will be there in a “transitory fashion.” He added that the assets would be stored in the vault but would only be sent to the hot wallet once users want to sell or list the assets.
He noted that the new setup will enable 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’s going to be much more scalable, and so the new v2 architecture is going to open up a lot more integrations, a lot faster, and allow us to move much more quickly,” Warwick added.
When asked about the release date for v2, the executive did not disclose a specific date but told Cointelegraph that it would be released “early next year.”
Magazine: Synthetix founder Kain Warwick: It’s DeFi that’s wrong, not the market