Cypher Protocol Opens Up to DeFi Direct About Futures Synthetic Assets

Cypher is ready to take on a unique role in DeFi and can help liaison major players onto the Solana Network.

Cypher Protocol Joins DeFi Direct

As the Solana network continues to build and gain institutional support, the need for protocols like Cypher will become ever more important. One of the key developers, Barrett, from Cypher stopped by the DeFi Direct YouTube channel to chat with Greg, Goon Trades, On November 30th. The two discussed the role of Cypher in the token launch process on Solana and its role as a lynchpin in the scalability steps to any protocol on the network.

The Cypher Protocol is building a protocol with a vision to catch the exponential growth of the Solana network.  Greg and Barret bounced between topics of how to onboard more users, the difficulties involved in market price discovery of token launches, and the intricacies of attracting heavy hitters into the industry. 

“We believe that for growing the industry at large, helping people from the Web 2, traditional finance, and into blockchain and crypto,” Barret told Greg in the stream. “Also, the expiring nature of these types of futures contracts allows an individual or an institution to place a more nuanced opinion on a particular asset.”

The chat between Greg and Barret ran just under 45 minutes but is filled with some great insight on the unique development happening at Cypher. Ultimately, like all DeFi protocols, it will need a community to get it going and keep it afloat. The team at Cypher looks ready to take on a much-needed role in the Solana network and in DeFi

“I think it will always be important to have open communication with the community and get their feedback,” Barret concluded. “Education goes a long way, whether that is on what synthetic assets are, or how the protocol works, or [different proposals]. There are a number of ways to do that and some of the markets are really exciting to be working with.” 

Who is Barret

Barrett, a core contributor at Cypher, has worked as a lead data scientist and engineer at a number of startups. Throughout his career, he has built recommendation engines for identifying investments, investors, and LPs in private capital markets; designed and led a multi-level behavior analysis project; and constructed models to forecast sea ice movement in Antarctica. As a core contributor at Cypher, he leverages his technical background in quantitative finance, data science, and engineering to lead the protocol’s initiative to build expiratory futures on Solana.

What is Cypher Protocol

Cypher is an expiratory futures protocol built on Solana. Participants will be able to mint and trade products on any community-approved market while participating in community governance that facilitates robust and safe interactions. Initial markets will be focused on pre-public opportunities that many traders have historically been excluded from, and upcoming products will make it possible to access price exposure to nearly any underlying data point that can be brought on chain. The protocol will support portfolio margin, lending and borrowing, and approachable UI and UX design. Backed by top investors in the web3 sphere – including Sino Global Capital, SkyVision Capital, and Blockwall Capital – Cypher is set to upend how blockchain-based trading works today.

Where to Find Cypher:

Website | Discord | Twitter | 

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