This solves the huge pain point of slippage & low liquidity on futures
They can be confident in the risk they have calculated & size accordingly
This also opens the door to leveraged trading of alt/btc pairs, which has been hard to achieve in the past due to thin order books
Think of the debt pool created by minters as the house at a casino
If traders win, minters have to pay back more debt to unlock their collateral
But as a minter, I can sit comfy knowing that ~90% of traders lose overtime & the high leverage offered will only amplify this trend
For a MC of just 215M, you can own a share in the house of what could be the largest global online venues for traders of all types
The unique system of trading against the debt pool gives a clear reason for traders to migrate from CEX's
With the ability for anyone with an Ethereum wallet to access the exchange, regardless of the security laws or Geo-blocking in their region, i can truly see Synthetix dominating the market for decentralized futures over the next few years
Security wise, all synthetic assets in the system are covered by ~750% of collateral. This will move lower overtime.
The liquidation method being added ensures solvency & incentivizes minters to stay overcollateralized
Lastly - While Synthetix is a DEX, it will not be sacrificing decentralization for better UX/speed as the exchange will be operational on ETH's Layer 2 via @optimismPBC
Having tested the demo, i can confirm it is as fast as any CEX i have ever used 🌈
Sudoswap is the NFT equivalent of Uniswap’s AMM but with the ability to create custom liquidity curves whereby the offer or sale price changes with every additional sale that is routed through your pool
Sudoswap bid or ask curves can be easily customized to change in price with every additional trade that is made
In the example below 38 eth is available to buy Miladys between 1.31 eth & 0.566 eth
With each sale, the offer price decreases based on the curve chosen by the LP
32min-40min
Good discussion on how users of Rollups & plasma can revert to the base chain in-case of failure or disputes
Good analogy of signing cheques
If you know you have not signed any cheques to move funds, you can be confident funds are redeemable
27min-33min
Aztec founders explaining how they organized the largest trusted setup ignition ceremony with 200 different participants, including Vitalik - Users only have to trust that just 1 participant was honest & destroyed their MPC records