Recent news about regulators targeting CEX´s like Bitmex and Okex showing the need for decentralized trading solutions - particulary when it comes to leveraged assets.
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Another issue traders are facing are non-transparent liquidations and market manipulations going along with CEX´s. Furthermore, the Okex case cleary showed that your funds should remain in your wallet rather than in CEX`s custody.
Goal:
Providing decentralized, trustless and non-KYC solution for leveraged assets seems to be the next evolutionary step following uniswap.
These behave similar to ETF`s (e.g. 3x BULL/BEAR for the ETH/USDT pair).
The trading pairs can be accessed from your wallet.
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How?
Decentralized trading platform fed by chainlink`s oracles to get accurate prices and data.
The trading pairs are being tokenized on Ethereum (think of uniswap as trading platform).
Latest developments:
A working product (Beta) was launched publicly weeks ago. Along with the beta a bug bounty campaign was started. The UI of the current Dapp is revamped. In that context
a new developer was onboarded as well.
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The new UI will be released with pending product launch.
In addition LP was launched on uniswap. The program runs until mid Nov. LP can stake their lqiudity and get handsomely rewarded (1 Syn equals to 1 LP per day).
Lately the team was focused on the technical aspects of the product (launch).
However, the launch of the trading platform is imminent and expected for the upcoming days. With the launch of the trading platform first trading pair(s) will go live.
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Along with go-live the marketing will be ramped up.
Multiple business deals (still under NDA) will be announced as well. In accordance with the
product launch a public sale executed. However, the token is already available on Uniswap.
Ticker: $SYN
Twitter: @SynLevdefi
Contract: 0x1695936d6a953df699c38ca21c2140d497c08bd9
Availability: Only on #uniswap (public sale later).
Telegram: t.me/synlev
Current MC: 700k
$SYN
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