As you know, @optimismPBC's mainnet launches in March. @synthetix_io in Phase 0 of mainnet and Phase 1 coming in couple days/weeks. Phase 2 coincides with launch of Synthetix V3, a compete re-write of the original codebase.
This is what's coming in next 2 months on V3:
1/13
This is what's coming in next 2 months on V3:
1/13
New SNX staking mechanism
This mechanism would require users to send SNX to a contract to stake and SNX outside this contract would always be freely transferable.
2/13
This mechanism would require users to send SNX to a contract to stake and SNX outside this contract would always be freely transferable.
2/13
eSNX
This change would create eSNX which would be paid out directly to wallets but not immediately staked as is the case now. Instead stakers would be able to burn it and receive escrowed SNX which would unlock after a year, this creates more flexibility for stakers.
3/13
This change would create eSNX which would be paid out directly to wallets but not immediately staked as is the case now. Instead stakers would be able to burn it and receive escrowed SNX which would unlock after a year, this creates more flexibility for stakers.
3/13
Tokenised debt
Change requires the new staking mechanism mentioned above, it would provide a tokenised representation of the SNX locked in the staking contract which would be transferable, so a staker could easily move staked SNX between wallets without unstaking/burning.
4/13
Change requires the new staking mechanism mentioned above, it would provide a tokenised representation of the SNX locked in the staking contract which would be transferable, so a staker could easily move staked SNX between wallets without unstaking/burning.
4/13
Continuous staking rewards
By migrating to a continuous staking system users would only be paid based on their contribution to the debt pool over time rather than at a specific “snapshot”.
5/13
By migrating to a continuous staking system users would only be paid based on their contribution to the debt pool over time rather than at a specific “snapshot”.
5/13
Continuous vesting
Continuous vesting would change how the vesting schedules work so that any SNX earned would be added to a pool that vested continuously rather than in discrete snapshots one year after each claim.
6/13
Continuous vesting would change how the vesting schedules work so that any SNX earned would be added to a pool that vested continuously rather than in discrete snapshots one year after each claim.
6/13
Open interests caps
This would introduce caps on the supply of each Synth to prevent various kinds of attacks including flash loans.
Order matching (outside open interest caps)
If the above change was introduced it would likely require a system for placing limit orders.
7/13
This would introduce caps on the supply of each Synth to prevent various kinds of attacks including flash loans.
Order matching (outside open interest caps)
If the above change was introduced it would likely require a system for placing limit orders.
7/13
Siloed debt pools
By splitting the debt pools into discrete asset classes stakers would be able to choose which pool to participate in and the market would adjust the yield within each pool accordingly.
8/13
By splitting the debt pools into discrete asset classes stakers would be able to choose which pool to participate in and the market would adjust the yield within each pool accordingly.
8/13
Price thresholds
Price thresholds provide users with security that a sudden price change will not adversely impact them, as the order would be rejected if the price moved by more than a certain percentage.
9/13
Price thresholds provide users with security that a sudden price change will not adversely impact them, as the order would be rejected if the price moved by more than a certain percentage.
9/13
Order matching (during market closures)
This would allow for continuous 24 hour trading of equities and other asset classes.
10/13
This would allow for continuous 24 hour trading of equities and other asset classes.
10/13
Keep3r implementation
Increasing number of functions within Synthetix will require an open keeper network to maintain.
Oracle Threshold signatures
Changing the oracle architecture to a pull based system on off-chain signatures, to reduce the current attack vectors.
11/13
Increasing number of functions within Synthetix will require an open keeper network to maintain.
Oracle Threshold signatures
Changing the oracle architecture to a pull based system on off-chain signatures, to reduce the current attack vectors.
11/13
Protocol migrator
Ideally this mechanism will strike a balance between direct token holder voting and centralised governance. Providing the security of trustless protocol upgrades with the oversight of off-chain governance.
12/13
Ideally this mechanism will strike a balance between direct token holder voting and centralised governance. Providing the security of trustless protocol upgrades with the oversight of off-chain governance.
12/13
Finally...
Acquisitions and expansion
There is still much to do this year, but it is likely that by the middle of the year we will be switching into a new mode of operation. Rather than being in infrastructure mode we will be in user acquisition mode.
LETS FUCKING GO!
13/13
Acquisitions and expansion
There is still much to do this year, but it is likely that by the middle of the year we will be switching into a new mode of operation. Rather than being in infrastructure mode we will be in user acquisition mode.
LETS FUCKING GO!
13/13
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