NEAR and Infinex Boost DeFi Interoperability for Smoother User Experience

Two leading figures in the blockchain space, NEAR Protocol founder Illia Polosukhin and Infinex founder Kain Warwick, have emphasized the importance of interoperability in advancing the adoption of decentralized finance (DeFi). During a fireside chat with Rug Radio’s Farokh Sarmad, the pair discussed how their collaboration is helping to simplify the DeFi experience for users and how overcoming current user interface and adoption challenges is essential for the future of the crypto industry [1].

A major milestone in their partnership was achieved in June, when Infinex successfully integrated NEAR Intents and Chain Signatures. This advancement allows users to swap and bridge non-smart contract cryptocurrencies—such as Bitcoin, Dogecoin, and XRP—across multiple blockchain networks with greater ease. By enabling interoperability, the integration helps to reduce the technical complexity that often deters new users from participating in the DeFi ecosystem [1].

Polosukhin described the current state of the crypto industry as one that remains fragmented, drawing an analogy to the inconvenience of traditional currency exchange. He argued that the experience of managing cryptoassets should be as seamless as exchanging money in an airport, where users should be able to move funds between apps, platforms, and services without unnecessary friction. This vision is central to NEAR Protocol’s mission to streamline user experiences and reduce the industry’s structural inefficiencies [1].

Warwick echoed this sentiment, noting that Infinex has focused on delivering user experience that can rival centralized exchanges. He pointed out that, while centralized platforms currently offer a more streamlined experience, the trend is shifting as more users begin to engage directly with on-chain services. According to Warwick, the challenge for decentralized platforms is to offer the same convenience and functionality that users have come to expect from traditional finance [1].

Polosukhin also highlighted the role of NEAR Intents in bridging the gap between users, cryptoassets, and market makers. These tools are designed to facilitate direct interactions between users and exchanges, allowing for real-time rate comparisons across multiple platforms. This not only improves transparency but also enhances the overall user experience by enabling better decision-making [1].

The executives also discussed the broader trends shaping the crypto industry, including how to navigate multiple market cycles. Warwick noted that each bull run is unique and that overconfidence can often lead to misjudgments in later cycles. Polosukhin agreed, adding that it is challenging to predict the forces driving market movements during periods of rapid price appreciation [1].

Looking ahead, Warwick expressed optimism about the remaining months of the current bull cycle and even into the next year. He attributed this confidence to the growing interest from traditional finance institutions, particularly in Bitcoin treasury products and exchange-traded funds (ETFs). He compared the adoption curve of crypto trends to those in traditional finance, suggesting that the slower-moving nature of traditional financial markets means there is still momentum to be harnessed [1].

Overall, the collaboration between NEAR Protocol and Infinex represents a significant step toward a more user-friendly and interconnected DeFi ecosystem. By focusing on interoperability and simplified user experiences, the two projects are helping to address some of the key barriers to mass adoption. Their continued efforts could play a pivotal role in shaping the future of decentralized finance and making blockchain technology accessible to a broader audience.

Source: [1] How NEAR Protocol and Infinex are Redefining the DeFi User Experience (https://decrypt.co/333807/how-near-protocol-and-infinex-are-redefining-the-defi-user-experience)