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S Y N T H E T I X
The infinite liquidity derivatives protocol™
Updated list of the 12 main features that will bring huge fee revenue to $SNX stakers
Welcome to the citadel my friend
The infinite liquidity derivatives protocol™
Updated list of the 12 main features that will bring huge fee revenue to $SNX stakers
Welcome to the citadel my friend
1/ As of last month all price feeds are now provided & secured by Chainlink
The list of Synthetic equities & commodities is already very strong
Currently available :
Gold
Silver
Nikkei 225 (Japanese stock index)
FTSE 100 (London stock index)
But this is only the beginning...
The list of Synthetic equities & commodities is already very strong
Currently available :
Gold
Silver
Nikkei 225 (Japanese stock index)
FTSE 100 (London stock index)
But this is only the beginning...
With the updated futures price methodology produced alongside the Chainlink team, this will open the door to many other real world assets
sOIL is coming very soon
I also look forward to the endless possibilities of assets
S&P500, TSLA, APPL, Uranium, ect
https://sips.synthetix.io/sips/sip-62
sOIL is coming very soon
I also look forward to the endless possibilities of assets
S&P500, TSLA, APPL, Uranium, ect
https://sips.synthetix.io/sips/sip-62
2/ Leveraged futures without slippage
Anyone who has traded on BitMEX or other derivatives exchanges knows the pain of slippage & huge wicks
Due to the unique design of users trading against the debt pool - all orders will execute at intended price https://twitter.com/GatheringGwei/status/1280298445417222144
Anyone who has traded on BitMEX or other derivatives exchanges knows the pain of slippage & huge wicks
Due to the unique design of users trading against the debt pool - all orders will execute at intended price https://twitter.com/GatheringGwei/status/1280298445417222144
Given the current ban of futures in the UK & US + retail no longer being able to trade on bitmex via VPN, i can see a strong demand arising for futures trading on a DEX
No KYC is also nice (;
No KYC is also nice (;
What about traders influencing the debt pool?
Variable funding rates coming with the futures release will work to keep the Open Interest debt neutral
LP’s will be able to take the other side of trades that skew the debt-pool & collect funding while being hedged externally
Variable funding rates coming with the futures release will work to keep the Open Interest debt neutral
LP’s will be able to take the other side of trades that skew the debt-pool & collect funding while being hedged externally
3/ But how can Synthetix match the speed & UX of centralized competitors???
Enter Layer 2
Anyone who has used the Layer 2 testnet knows how fast it is
Once L2 & Futures trading combine together - I can see us taking a large chuck of users from CEX's https://twitter.com/GatheringGwei/status/1277406923294273536
Enter Layer 2
Anyone who has used the Layer 2 testnet knows how fast it is
Once L2 & Futures trading combine together - I can see us taking a large chuck of users from CEX's https://twitter.com/GatheringGwei/status/1277406923294273536
4/ The cross-pool bridge that is being developed in collaboration with @CurveFinance
This can facilitate BTC<->ETH<->USDx trades with zero slippage even for very large sizes
Only Synthetix is capable of such a unique functionality
Very strong moat https://twitter.com/GatheringGwei/status/1289122465155649536
This can facilitate BTC<->ETH<->USDx trades with zero slippage even for very large sizes
Only Synthetix is capable of such a unique functionality
Very strong moat https://twitter.com/GatheringGwei/status/1289122465155649536
5/ The Synthetix Volume Program
This program will reward platforms that integrate with Synthetix protocol based on the volumes they generate
So far 1inch, Zapper, Paraswap & 9 more teams are on board
Below I will detail my 4 favorite partnerships https://blog.synthetix.io/the-new-volume-incentive-program/
This program will reward platforms that integrate with Synthetix protocol based on the volumes they generate
So far 1inch, Zapper, Paraswap & 9 more teams are on board
Below I will detail my 4 favorite partnerships https://blog.synthetix.io/the-new-volume-incentive-program/
@paraswap / MetaMask integration
Paraswap have integrated with Synthetix to allow their users to move directly between different Synths
Once this is available on metamask, anyone can easily trade between sUSD, sXAU, sXAG & any other synths available https://twitter.com/SNXified/status/1313600879992463362
Paraswap have integrated with Synthetix to allow their users to move directly between different Synths
Once this is available on metamask, anyone can easily trade between sUSD, sXAU, sXAG & any other synths available https://twitter.com/SNXified/status/1313600879992463362
@dHedgeOrg
A trading platform that will allow users to invest into funds that are managed by traders
Let them trade for you without custody
No slippage = No opp cost regardless of AUM
Performance tracked
Great way for non-LARPing CT traders to compete https://twitter.com/SNXified/status/1301387315420504071
A trading platform that will allow users to invest into funds that are managed by traders
Let them trade for you without custody
No slippage = No opp cost regardless of AUM
Performance tracked
Great way for non-LARPing CT traders to compete https://twitter.com/SNXified/status/1301387315420504071
@Marqet_Exchange
"Marqet combines @AaveAave credit delegation with @synthetix_io peer to contract exchange to uniquely provide trustless margin trading of any synthetic asset with no slippage." https://twitter.com/santiagoroel/status/1306360053666996224
"Marqet combines @AaveAave credit delegation with @synthetix_io peer to contract exchange to uniquely provide trustless margin trading of any synthetic asset with no slippage." https://twitter.com/santiagoroel/status/1306360053666996224
Dedicated options trading platform powered by Synthetix protocol & Chainlink price feeds
While options are already live, this will allow another team to take it to the next level
As with the other partnerships -> much more fee revenue for $SNX holders https://twitter.com/synthetix_io/status/1306768389243727872
While options are already live, this will allow another team to take it to the next level
As with the other partnerships -> much more fee revenue for $SNX holders https://twitter.com/synthetix_io/status/1306768389243727872
6/ Size of the SynthetixDAO treasury
Gigantic treasure chest to fund the development of the Synthetix ecosystem & bootstrap other teams planning to build platforms powered by the protocol
Building will continue far though any bear markets we may face https://twitter.com/kermankohli/status/1287908984372961281
Gigantic treasure chest to fund the development of the Synthetix ecosystem & bootstrap other teams planning to build platforms powered by the protocol
Building will continue far though any bear markets we may face https://twitter.com/kermankohli/status/1287908984372961281
7/ Automated staking strategies
xSNX token wrapper
Great for smaller holders who don't want to spend the time staking & also very tax efficient as all profits can be declared as capital gains https://twitter.com/GatheringGwei/status/1313050751774597125
xSNX token wrapper
Great for smaller holders who don't want to spend the time staking & also very tax efficient as all profits can be declared as capital gains https://twitter.com/GatheringGwei/status/1313050751774597125
Yearn will also be releasing the ySNX vault soon
This will draw a lot of attention to $SNX as it will likely be the highest APY vault on Yearn https://twitter.com/GatheringGwei/status/1308072765715484675
This will draw a lot of attention to $SNX as it will likely be the highest APY vault on Yearn https://twitter.com/GatheringGwei/status/1308072765715484675
8/ Ether & BTC as collateral for minting synths
Ether is already live as we speak
This will help to grow the Synth supply & I see it being popular both as a way to take out leverage & as a way to easily onboard & trade on any of the available platforms https://twitter.com/Jacko_n_co/status/1311150030896603136
Ether is already live as we speak
This will help to grow the Synth supply & I see it being popular both as a way to take out leverage & as a way to easily onboard & trade on any of the available platforms https://twitter.com/Jacko_n_co/status/1311150030896603136
9/ Current & future fee revenue
With revenue from fees already at ~2.27% APY for $SNX holders - imagine what is possible once all the features above are implemented https://twitter.com/Matt__Kaye/status/1310421595463262210
With revenue from fees already at ~2.27% APY for $SNX holders - imagine what is possible once all the features above are implemented https://twitter.com/Matt__Kaye/status/1310421595463262210
Synthetix is turning into EthMEX by EOY - but better due to 0% slippage, no custody & a far more open & trustworthy design
Not just decentralization for the sake of it
Very clear advantages that will bring users in
And that's just the tip of the iceberg https://twitter.com/GatheringGwei/status/1291750839158050816
Not just decentralization for the sake of it
Very clear advantages that will bring users in
And that's just the tip of the iceberg https://twitter.com/GatheringGwei/status/1291750839158050816
Many have spoken of relative valuation plays
For active users - this is one of the best ways to invest in crypto
$SNX - 464M
$HT - 1.06B (2.28x)
$OKB - 1.67B (3.6x)
$EOS - 2.42B (5.2x)
$BNB - 3.97B (8.6x)
For active users - this is one of the best ways to invest in crypto
$SNX - 464M
$HT - 1.06B (2.28x)
$OKB - 1.67B (3.6x)
$EOS - 2.42B (5.2x)
$BNB - 3.97B (8.6x)
So how about some price targets for EOY???
$13.42 to flip $OKB
IMO highly likely as Synthetix keep #ExpressShipping
If the DeFi prophesy is fulfilled ... I can see us sitting comfy in the top 10 - $30+ without crypto as a whole growing
Thanks for coming to my TED talk
$13.42 to flip $OKB
IMO highly likely as Synthetix keep #ExpressShipping
If the DeFi prophesy is fulfilled ... I can see us sitting comfy in the top 10 - $30+ without crypto as a whole growing
Thanks for coming to my TED talk
