First, why would you want to even consider using it? Well it is dirt cheep and regularly getting cheeper as they make upgrades and enhancements.
It is also the 2nd most used L@ already.
1/12
Let's look at some protocols on L2 for people to use.
First of cause is the OG @synthetix_io. It is currently the largest TVL based project here, building out many new functions that will allow for more $sUSD liquidity as well as provide a foundation for other protocols.
2/12
Next is @kwenta_io It is currently in complete redevelopment. Very exciting times ahead!
- Derivatives Trading
- - Crypto, Indices, Forex, Commodities, Equities etc
- Long & Short Trading
- FUTURES Trading!
All non-custodial & decentralised!
3/12
The next 2 are OPTIONS protocols
@lyrafinance Is providing Options Trading for everyone. Trade $ETH, $BTC, $LINK, $SOL and many more coming soon.
Buy and sell options to create infinite payoff structures.
4/12
The 2nd Options Trading protocol, @thalesmarket is a novel and gamified on-chain, permissionless, and non-custodial parimutuel market platform.
Some thoughts & ramblings on @synthetix_io and $SNX price action.
I've been staking since Epoch 1 and have seen how the price is affected by different things in the market.
🧵 1/x
First of all it is vital to understand that $SNX is not a passive Gov token. Its true worth, is having it staked to earn rewards.
The goal is to have transaction fee rewards in $sUSD outweigh $SNX rewards by some magnitude in the future.
2/x
This is currently not the case as the protocol emission is still incentivising staking heavily. But this will change as the emission model reduces $SNX over time and all the building block start falling in place that will drive Transactions through the protocol.
3/x