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https://abs.twimg.com/emoji/v2/... draggable="false" alt="🤡" title="Clownsgesicht" aria-label="Emoji: Clownsgesicht">& #39;s ELI5 on $SYN
Explain it like I& #39;m 5, ser
Wtf is @synlev $SYN and why are you so bullish on it?
Synlev = Uniswap with leverage
More specifically, it& #39;s bringing leveraged ETFs or ETNs to crypto
Morehttps://abs.twimg.com/emoji/v2/... draggable="false" alt="👇" title="Rückhand Zeigefinger nach unten" aria-label="Emoji: Rückhand Zeigefinger nach unten">
Explain it like I& #39;m 5, ser
Wtf is @synlev $SYN and why are you so bullish on it?
Synlev = Uniswap with leverage
More specifically, it& #39;s bringing leveraged ETFs or ETNs to crypto
More
Hmmm
Ok
Tongue pressed to the back of my teeth
I am mildly titillated, but I don& #39;t know what a leveraged ETF or ETN is because I am not in the top 10% of America that owns 92% of the public stocks
OK
ETF = exchange-traded fund
ETN = exchange-traded note
2/x
Ok
Tongue pressed to the back of my teeth
I am mildly titillated, but I don& #39;t know what a leveraged ETF or ETN is because I am not in the top 10% of America that owns 92% of the public stocks
OK
ETF = exchange-traded fund
ETN = exchange-traded note
2/x
Essentially, an ETF or ETN is a tradeable stock
Each share = a market
i.e, there are ETF shares that bet on the price of oil ($GUSH)
or the price of gold mining stocks ($JNUG)
They can get more exotic, too
$UVXY for ex. tracks the volatility of the stock market
3/x
Each share = a market
i.e, there are ETF shares that bet on the price of oil ($GUSH)
or the price of gold mining stocks ($JNUG)
They can get more exotic, too
$UVXY for ex. tracks the volatility of the stock market
3/x
The king of them all = ProShares UltraPro QQQ (stock ticker $TQQQ)
$TQQQ aims to return three times (3x) the return of the Nasdaq-100 Index for a single day, not for any other period
So, if the NASDAQ goes up 2% on a given day, your share of $TQQQ should go up 6%
4/x
$TQQQ aims to return three times (3x) the return of the Nasdaq-100 Index for a single day, not for any other period
So, if the NASDAQ goes up 2% on a given day, your share of $TQQQ should go up 6%
4/x
If the NASDAQ goes down 2% on a given day, your share $TQQQ should crater 6%
Simply put, they are ways to bet on a market by simply buying a share of stock
$SYN = the crypto version of a leveraged ETF/ETN issuer
5/x
Simply put, they are ways to bet on a market by simply buying a share of stock
$SYN = the crypto version of a leveraged ETF/ETN issuer
5/x
$SYN just launched on Wednesday
Their first product = 3x $ETH tokens
What?
You can buy Synlev& #39;s 3x ETH tokens just like buying any other tokens (or just like you& #39;d buy a share of an ETF in your brokerage account)
6/x
Their first product = 3x $ETH tokens
What?
You can buy Synlev& #39;s 3x ETH tokens just like buying any other tokens (or just like you& #39;d buy a share of an ETF in your brokerage account)
6/x
One of the tokens is bullish $ETH ($3xBULLETH)
One of the tokens is bearish $ETH ($3xBEARETH)
If $ETH goes up 2%, $3xBULLETH should go up 6%
If $ETH goes down 2%, $3xBULLETH should go down 6%
7/x
One of the tokens is bearish $ETH ($3xBEARETH)
If $ETH goes up 2%, $3xBULLETH should go up 6%
If $ETH goes down 2%, $3xBULLETH should go down 6%
7/x
The BEAR tokens behave the opposite of that:
If $ETH goes up 2%, $3xBEARETH should go down 6%
If $ETH goes down 2%, $3xBEARETH should go up 6%
This dude shows you exactly how to buy and sell bull and bear $ETH tokens:
https://twitter.com/crypto_gav/status/1329113252257804288?s=20
8/x">https://twitter.com/crypto_ga...
If $ETH goes up 2%, $3xBEARETH should go down 6%
If $ETH goes down 2%, $3xBEARETH should go up 6%
This dude shows you exactly how to buy and sell bull and bear $ETH tokens:
https://twitter.com/crypto_gav/status/1329113252257804288?s=20
8/x">https://twitter.com/crypto_ga...
Keep in mind these tokens are NOT designed to be long-term holds
They suffer from price decay just like leveraged ETFs, which means they& #39;re not long-term buy and holds
You hold them for a few hours or a day, maybe 2-3 days
9/x
They suffer from price decay just like leveraged ETFs, which means they& #39;re not long-term buy and holds
You hold them for a few hours or a day, maybe 2-3 days
9/x
That has me even more excited because $SYN holders earn 0.2% on all 3x token trades
Another 0.2% goes to anyone who stakes $ETH on the platform
10/x
Another 0.2% goes to anyone who stakes $ETH on the platform
10/x
Side note: Synlev is currently giving away $SYN to anyone who stakes $ETH on the platform right now... I do not want to print the yields because they& #39;re godly
Details: https://synlev.medium.com/synlev-post-launch-update-241b979a1c9d
11/x">https://synlev.medium.com/synlev-po...
Details: https://synlev.medium.com/synlev-post-launch-update-241b979a1c9d
11/x">https://synlev.medium.com/synlev-po...
So, what $SYN is doing is basically opening up the entire leveraged ETF/ETN industry on chain
Currently, leveraged ETFs and ETNs are all controlled by international banks and companies like Proshares and Direxion. They capture all the fees
12/x
Currently, leveraged ETFs and ETNs are all controlled by international banks and companies like Proshares and Direxion. They capture all the fees
12/x
If Synlev catches on, it could compete with them... only it won& #39;t be limited to M-F trading hours
& liquidity won& #39;t be limited to people with brokerage accounts and KYC documents
Best of all: fee income will migrate from Wall Street bankers to me + you
12/x
& liquidity won& #39;t be limited to people with brokerage accounts and KYC documents
Best of all: fee income will migrate from Wall Street bankers to me + you
12/x
$SYN is global from day 1. It is permissionless. It requires no KYC, and no rubberstamp from a tight-lipped bureaucrat
$SYN will not stop with 3x $ETH tokens
They will add additional 3x tokens
$BTC is likely next
13/x
$SYN will not stop with 3x $ETH tokens
They will add additional 3x tokens
$BTC is likely next
13/x
Then, they will add whatever the community wants so long as a $LINK oracle exists for that asset
Gold will likely be one of the next 3x assets
OK
What are you worried about with $SYN ser?
Well, I can& #39;t guarantee $SYN& #39;s 3x volumes will grow
14/x
Gold will likely be one of the next 3x assets
OK
What are you worried about with $SYN ser?
Well, I can& #39;t guarantee $SYN& #39;s 3x volumes will grow
14/x
The team will have to keep delivering + they must do it at a rabid f& #39;ing metal-chewing pace bc 30 other teams are working on derivatives
(the others have such pretty whitepapers + roadmaps + they make sweet promises... but I see no contracts on mainnet yet... ONLY $SYN is live)
(the others have such pretty whitepapers + roadmaps + they make sweet promises... but I see no contracts on mainnet yet... ONLY $SYN is live)
People keep saying Synthetix $SNX will crush $SYN
First, I& #39;m long $SNX, so if that happens, ok fine. But I think they coexist
$SYN has some advantages over $SNX in its tiny niche
16/x
First, I& #39;m long $SNX, so if that happens, ok fine. But I think they coexist
$SYN has some advantages over $SNX in its tiny niche
16/x
First of all, it& #39;s on the main $ETH chain
$SNX is migrating to a layer 2 (L2)
I have no doubts $SNX will do great on L2 bc its speed will finally start to match centralized solutions...
but still, moving back and forth bw an L1 and an L2 = FRICTION
17/x
$SNX is migrating to a layer 2 (L2)
I have no doubts $SNX will do great on L2 bc its speed will finally start to match centralized solutions...
but still, moving back and forth bw an L1 and an L2 = FRICTION
17/x
FRICTION almost always sucks
Markets detest it
Apes detest it
In fact, I would say virtually all of crypto is a race to destroy all forms of friction
Nothing easier than 3x tokens
NOTHING
$SNX is also building something larger. $SYN is aiming at a niche. And I likey it
18/
Markets detest it
Apes detest it
In fact, I would say virtually all of crypto is a race to destroy all forms of friction
Nothing easier than 3x tokens
NOTHING
$SNX is also building something larger. $SYN is aiming at a niche. And I likey it
18/
+ consider this apes...
If @SynLevdefi hits $10 million in daily volume on its 3x tokens, $SYN should conservatively hit $2.10 or so...
that& #39;s nearly a 9x from here
https://twitter.com/redphonecrypto/status/1328150310255267840?s=20
19/x">https://twitter.com/redphonec...
If @SynLevdefi hits $10 million in daily volume on its 3x tokens, $SYN should conservatively hit $2.10 or so...
that& #39;s nearly a 9x from here
https://twitter.com/redphonecrypto/status/1328150310255267840?s=20
19/x">https://twitter.com/redphonec...
But look, $10 million in trading volume is a fucking joke
If $SYN taps out there, I will feel like an analytical failure
Few know it, but the chads at @coingecko have a page that tracks the volume of leveraged ETFs on centralized exchanges
20/x
If $SYN taps out there, I will feel like an analytical failure
Few know it, but the chads at @coingecko have a page that tracks the volume of leveraged ETFs on centralized exchanges
20/x
It is a work of art
Looking at it makes you mind begin to whir like that bro in A Beautiful Mind
21/x
Looking at it makes you mind begin to whir like that bro in A Beautiful Mind
21/x
Challenge:
If you can scroll all the way to the bottom of the Coingecko page without beginning to salivate over $SYN& #39;s future...
Then I will say your heart is cold and vampish and we cannot be frens
https://www.coingecko.com/en/etf
22/x">https://www.coingecko.com/en/etf&qu...
If you can scroll all the way to the bottom of the Coingecko page without beginning to salivate over $SYN& #39;s future...
Then I will say your heart is cold and vampish and we cannot be frens
https://www.coingecko.com/en/etf
22/x">https://www.coingecko.com/en/etf&qu...
What& #39;s next for $SYN?
See screenshot
I like to think of it as a perpetual money machine
Of course for it to win, people must provide liquidity, and actually start using $SYN& #39;s $3xBULLETH and $3xBEARETH tokens
23/x
See screenshot
I like to think of it as a perpetual money machine
Of course for it to win, people must provide liquidity, and actually start using $SYN& #39;s $3xBULLETH and $3xBEARETH tokens
23/x
So do your crypto ape duty and begin trading at http://synlev.com/exchange ">https://synlev.com/exchange&... now ser
If you don& #39;t want to trade, provideth them liquidity
Help democratize the world of leveraged ETFs
We are here for alpha
but we are here for freedom, too
https://abs.twimg.com/emoji/v2/... draggable="false" alt="🤡" title="Clownsgesicht" aria-label="Emoji: Clownsgesicht"> out
If you don& #39;t want to trade, provideth them liquidity
Help democratize the world of leveraged ETFs
We are here for alpha
but we are here for freedom, too
