dHedge – a Synthetix-based asset management protocol – is coming out of stealth mode with the launch of a two-week trading competition on Ethereum’s Ropsten testnet.

dHedge is a new asset management protocol enabling non-custodial mimetic trading for any of the synthetic assets supported by Synthetix. The emerging protocol is backed by leading investment funds in DeFi, including Framework Ventures, Three Arrows Capital, BlockTower Capital, and Maple Leaf Capital among others. Like many DeFi protocols today, dHedge will feature a native governance token, DHT, which will play a key role in bootstrapping and decentralizing the protocol.

The trading competition will run until August 3rd with prizes being awarded to traders with the highest returns. The winnings include both DHT and SNX prizes with the following allocations:

  • 1st place: 37,000 DHT + 1,500 SNX + own channel on dHedge Discord
  • 2nd place: 25,000 DHT + 1,000 SNX
  • 3rd place: 12,000 DHT + 500 SNX
  • 4th-20th place: 3,000 DHT + 120 SNX

Following the completion of the trading competition, dHedge is anticipating its mainnet launch in September following a full security audit and review. If you’re an active portfolio manager, this is a great opportunity for you to showcase your abilities. For those interested in entering the competition you can follow the steps listed in the official medium post here.

Key Takeaways 

dHedge is one of the first major projects building on Synthetix and showcases the potential composability with the derivatives protocol. If you’ve been following along with DeFi Rate and Synthetix’s development, you may remember one of our earlier articles on a major Synthetix Governance call in June which outlined all of the upcoming products and projects in the Synthetix. While dHedge wasn’t explicitly mentioned, the launch of this asset management protocol is right on par with what we should expect coming from the Synthetix camp.

The Synthetix team has been shipping new products like crazy and has been highly supportive of projects looking to build on the protocol. In the coming future, we can expect more projects to leverage Synthetix for innovative new products in the DeFi ecosystem.

Given dHedge is backed by some of the leading DeFi funds in the space along with a native governance token, the mainnet launch will likely be a hit featuring liquidity mining and other similar mechanisms to help bootstrap the protocol.

If you’re interested in learning more about dHedge or looking to enter the trading competition, you can visit the official website to get started.

For anyone interested in getting active with discussions, you can join the official dHedge Discord here!

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