Thread by @GatheringGwei

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

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...

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
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

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 (;

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

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

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

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

blog.synthetix.io/the-new-volume…

@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

@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

@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

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

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

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

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

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

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

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

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)

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

Learning resources for those new to the protocol :

medium.com/@davidschwartz…

blog.synthetix.io/state-of-synth…

blog.synthetix.io/the-shifting-s…

matcha.xyz/blog/introduct…