The Synthetic Asset Appchain is coming to @cosmos!
Synthetics Zone is a network of app-chains that creates any arbitrary asset for the cosmos ecosystem.
Read to the end to find out more about the airdrop!
🧵
Synthetics Zone is a network of app-chains that creates any arbitrary asset for the cosmos ecosystem.
Read to the end to find out more about the airdrop!
🧵
Many real world assets do not currently have an on-chain equivalent. There is little liquidity to trade $TSLA stock on-chain, nor is there liquidity to leverage trade BAYC NFTs.
Synthetics is one way to solve this problem, by allowing liquidity providers to mint assets that artificially track the value of other assets, we can allow users to trade anything with a price feed.
Validators will have the ability and obligation to provide the price data for these arbitrary assets, if you are interested in running a validator node, please check out the #validators channel in discord.
After these synthetic assets have been minted, there will be a host of different applications that allow users to leverage trade, lend, borrow, and swap these assets.
Imagine being able to go 100x long on $GME without using options, or selling covered calls on BTC. If it has a price feed, Synthetics Zone will be able to mint it as an asset.
Of course, like any well run cosmos chain, there will be an airdrop! The official criteria will be announced in the future, but we recommend interacting with this tweet and joining the discord!
discord.com/invite/JKshRdH…
https://twitter.com/syntheticszone/status/1557993929827528705
discord.com/invite/JKshRdH…
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