Thread by @SNXified

Blown away by @kaiynne's #L222 #SNX roadmap.

Here is 22 reasons why #Synthetix is going to melt faces in 2022:

#Optimism:

@synthetix_io is built on @optimismPBC L2. @MakerDAO, @AaveAave, @CurveFinance, @Uniswap, @gnosisPM, @Barn_Bridge and other top dogs joined as well.

1/22

Parallel development of #Synthetix V2x and V3:

#Synthetix core-contributors split up into two groups in 2021, to build two different scopes at the same time. At the same time #SNX on-boarded additional engineers and core contributors to accelerate the process.

2/22

#Synthetix V2x:

#SNX V2x scope consists of three phases:

1. #Optimism migration and dealing with tech debt
2. Debt Synthesis (L1/L2 debt merge) and other stuff
3. Rollout of new #synths to #Optimism

Leveraged Synths aka #Futures split into separate workstream.

3/22

#Synthetix V2x progress so far:

Phase 1.........complete
Phase 2.........in progress
Phase 3.........in progress
Futures..........in progress

Last three items of V2x scope are being built in parallel.

4/22

#Synthetix V2x Phase 2 scope:

SIP-185 Debt Shares
SIP-148 Upgraded Liquidations
SIP-165 Debt Pool Synthesis
SIP-198 Atomic FX transactions
SIP-TBC Synth Teleporters
SIP-TBC Debt Migration

5/22

SIP-185 Debt Shares:
sips.synthetix.io/sips/sip-185/

Status: Vote Pending (vote is today)
Development is complete and code in audit.

This SIP is required for SIP-165 (Debt Synthesis) and SIP SIP-148 (Liquidations). It replaces existing debt register with tokenized debt system.

6/22

SIP-148 Upgrade Liquidation Mechanism V2:
sips.synthetix.io/sips/sip-148/

Status: Feasibility
Development in progress. Release in Feb 2022.

This SIP will introduce in-house liquidations by #Synthetix itself, while redistributing proceeds as rewards to healthy stakers.

7/22

SIP-165 Debt Pool Synthesis:
sips.synthetix.io/sips/sip-165/

Status: Feasibility
Development in progress. Release in Q1 2022.

This SIP will merge debt across layers (ETH/OVM) and allow #Syntthetix to be deployed across ARBITRARY NUMBER OF CHAINS via @chainlink custom oracles.

8/22

SIP-198 Atomic FX transactions:
sips.synthetix.io/sips/sip-198/

Status: Feasibility
Development in progress. Release in Feb 2022.

Requested by @AndreCronjeTech to be used for atomic #FOREX trading using pure #chainlink prices. Use case: @thekeep3r FixedForex, cross-asset swaps.

9/22

SIP-TBC Synth Teleporters:

Status: Draft
Development in progress. Release in Q1 2022.

#Synthetix will start using Synth Teleporters to move liquidity between layers. Once battle-tested, teleporters will be used for cross-chain bridging of liquidity across many chains.

10/22

SIP-TBC Debt Migration:

Status: Draft
Development in progress. Release in Q1 2022.

Final SIP in #Synthetix V2x scope. It allows painless transfer of L1 debt to #Optimism layer.

11/22

#Synthetix V2x Phase 3 scope:

Rollout of new Synths to Optimism will proceed in parallel with Phase 2 SIPs. Phase 3 started with SIP-199, which adds #Solana #sSOL synth on #OVM @optimismPBC Layer 2.

SIP-199 (sips.synthetix.io/sips/sip-199/) will be deployed next week.

12/22

SIP-202: Target Staking Ratio:
sips.synthetix.io/sips/sip-202/

Status: Draft
Development in progress. Release in Q1/Q2 2022.

Written by @kaiynne and @Jacko_n_co, this SIP will dynamically change rate of #SNX token inflation on the fly, based on the target ratio of the network.

13/22

SIP-80: Synthetic Futures:
sips.synthetix.io/sips/sip-80/

Code in audit. Release Feb 2022 on @kwenta_io.

SIP is in separate workstream. Development is complete and audit in progress. #Leveraged #Synths on #Optimism will be insane. #SNX beras gonna get rekt...

14/22

Other #Synthetix SIPs in pipeline:

SIP-203: Volume Source Fee
sips.synthetix.io/sips/sip-203/
Allows integrators to capture fees from the volume they route through #Synthetix.

SIP-301: Add Synth Supply Caps
sips.synthetix.io/sips/sip-301/
Allow each synth to have its own max supply cap

15/22

More #Synthetix SIPs in pipeline:

SIP-303: Simulated Liquidity for Synthetix Exchanges
sips.synthetix.io/sips/sip-303/
Implements synthetic pricing curve with parametric liquidity constants, set to reflect the global liquidity available for each synth’s underlying asset.

16/22

Even more #Synthetix SIPs in pipeline:

SIP-186: Risk Committee
sips.synthetix.io/sips/sip-186/
SIP creates Risk Committee, chosen from other #SNX governing bodies (Spartan Council, Treasury Council), who will be responsible for risk analysis of the Synthetix Protocol.

17/22

#Synthetix V3 and V3GM:

Second group of core contributors already working on V3 branch. #V3GM will be deployed first, to govern #SNX protocol in second epoch of 2022.

Will become separate protocol with its own token as part of #Synthetix ecosystem. Wen airdrop?

18/22

#Synthetix V3 Scope:

Proxy Architecture
Tokenised Debt Pool
Differentiated Debt Pool
Inflation Weighting
Inflation locking
LP token staking
Synth Decay Function
Continuous Staking

19/22

#Synthetix V3.1 Scope:

Single Asset Debt Pools
Exotic Collateral
Bilateral Trading
Dynamic Wrappers
Cross Asset Swaps across chains #SNX deployed on

20/22

#L222. State of #Synthetix on 12/31/2022:

- Synths deployed on many chains and layers
- V3 migration complete
- Synthetic futures live on L2
- Higher APY from both inflation and fees
- More integrations
- V3GM governance

21/22

#WAGMI...

"This year we will reap the rewards from the investment we made in optimism and continuously decentralising governance. wagmi."

#L222 #SNX #Synthetix

22/22