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SYNTHR Profile picture
@synthr_defi
Sep 10, 2022 • 5 tweets • 6 min read • Read on X
Atomic swaps allow you to exchange or #swap tokens from different #blockchains in one #Trade with nearly zero #slippage.

Here’s how they work on SYNTHR ⬇️🧵
🟢User executes swap from #ETH to #WBTC on SynthSwap
🟢#DEX aggregator swaps ETH to syETH
🟢syETH is burned
🟢syBTC is swapped for WBTC on DEX aggregator
🟢User receives WBTC

These steps occur within one transaction from a user’s POV, & reduce #slippage costs by over 80%.
Our Atomic Swaps tech enables #DEXs and #Bridges to integrate with us, making SYNTHR a highly #composable protocol that serves utility to the wider #Crypto community; in this case, zero-to-low slippage swaps.
We have already partnered w/ #DeFi protocols such as @routerprotocol , allowing their users to use SYNTHR’s zero-slippage #swapping engine SynthSwap to execute atomic swaps on partner #DEXs such as @_Dfyn ⬇️

SYNTHR’s Atomic Swap tech will bring in more #revenue for the protocol in terms of daily #transactions & therefore more #rewards for SYNTHR’s LPs
(50% of all fees generated on SYNTHR is allocated for rewards to our veSYNTH holders).

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More from @synthr_defi

SYNTHR Profile picture
Apr 17, 2023
The #SuiNetwork mainnet is nearing its launch.

Though the ecosystem is growing remarkably quickly, being in its early stages, TVL may be slow to catch up.

Here’s how SYNTHR is accelerating this 🧵🔽
The network uses Move - a revolutionary open-source programming language for developing smart contracts initially created by @Meta to power the Diem blockchain.

Several other blockchains, including @0LNetwork , @Aptos_Network , and @StarcoinSTC are building upon it.
In particular though, @SuiNetwork is designed to keep #Gas prices much more consistent (and low).

Its object-centric design also allows for independent transactions to be processed in any order, in effect making it highly scalable.
Read 11 tweets
SYNTHR Profile picture
Dec 4, 2022
A robust & sustainable fee distribution system is an integral part of any #DeFi protocol 🐸

There exist a few different models, but the two most well-regarded ones are the LP fee model (as adopted by @Uniswap ) & the Vote-escrow model (pioneered by @CurveFinance ) 🧵🔽 Image
🟢The LP fee model (LPs provide liquidity & are issued LP tokens to earn rewards from txn fees generated on the protocol)

✅PROS: Highly sustainable in the long-run.

❌CONS: The native token (e.g. $UNI) has no real utility, & mcap is usually not indicative of protocol usage.
🟢The veToken Model (Token holders lock up tokens (e.g. CRV) to receive vote escrowed tokens in return (e.g. veCRV); holders of these earn a significant portion of protocol fees)

✅PROS: Rewards long term holders w/ the majority of governance power & passive income from proto-
Read 5 tweets
SYNTHR Profile picture
Oct 27, 2022
The use of a censorship-resistant, fully #decentralized oracle service to ensure a trustless #DeFi ecosystem is non-negotiable in an omnichain synthetics #trading protocol like SYNTHR.

Here’s why 🧵🔽
Price Feeds are used when:

🟢Users stake $ETH & mint syUSD - To pull ETH prices to check how much syUSD can be minted as per the collateralization ratio.
And #smartcontract Automation when:

🟢Liquidations occur: To determine how much amount of the syAsset is to be liquidated, how much debt must be paid off, & how much is the remainder to send to the Stability Pool.

medium.com/@Synthr/synthr…
Read 4 tweets
SYNTHR Profile picture
Sep 30, 2022
.@synthetix_io - pioneer of the Debt Pool model & #slippage -free swaps is a highly sound #DeFi protocol, technically.
However, all synths on it are backed by their native $SNX , causing decreased usage & serving as a bottleneck for growth.

Here's how this is avoided on SYNTHR🔽
The use of its native token, $SNX as (over)collateral, poses some risk; the system depends on the value of the $SNX token being relatively stable.
If the price of $SNX were to fall quickly, it could potentially cause mass liquidations of syAssets on the Synthetix platform…
…and to prevent this & preserve collateralization ratio, the system depends on users buying more $SNX tokens. Furthermore, newer regulation also threatens to upend the $SNX -backed minting system, affecting current & future iterations of the protocol.
Read 4 tweets
SYNTHR Profile picture
Sep 13, 2022
SYNTHR is more than a siloed price exposure platform - we're a core #infrastructure project that will allow users to #Mint highly solvent synthetic assets that foster #composability and capital efficiency within #DeFi 🐸

Here's how we will be highly composable to DEXs ⬇️🧵 Image
I. Yield-farming: Synthr will run #LP incentivisation programs with #DEXs , allowing users to deposit syAssets and earn $SYNTH, all whilst building deeper liquidity across these DEXs and on various #chains .
II. Enabling Atomic Swaps
Our partner #DEXs will use SYNTHR’s low-slippage swapping engine, SynthSwap, to execute atomic swaps initiated by their users.

Read 5 tweets

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