Synthetix decentralized autonomous organization (DAO) has renewed the partnership with liquidity provider Jump Crypto, according to the protocol’s developers. After the announcement, the price of Synthetix’s SNX token increased by over 14%. DAOs are organizations with decentralized control owned and run by their members. There is no human manager to make decisions, and the software carries them out. Synthetix’s developers shared the news via Twitter on Thursday night that Jump Crypto’s expertise in data-driven trading and liquidity provisioning will support Synthetix’s goal of being the liquidity backbone for on-chain derivatives. Synthetix DAO and Jump Crypto are excited to announce a renewed partnership. Jump Crypto’s experience in data-driven trading and liquidity provisioning will complement Synthetix’s mission to become the liquidity backbone for on-chain derivatives. — Synthetix ⚔️ (✨🔴_🔴✨) (@synthetix_io) July 21, 2022 Jump Crypto Anticipates to Collaborate Closely with Synthetix The Chicago-based trading business is anticipated to collaborate closely with the Synthetix ecosystem to provide liquidity across listed assets and product feedback. Jump Crypto offers investments and liquidity services and takes part in project governance. SNX increased to a high of $3.37 during Asian trading hours, but profit-taking caused prices to drop to $3.25 at the time of publication. After a market-wide decrease drove prices to monthl...
