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.

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 ) 🧵🔽 🟢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 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.

.@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…

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 ⬇️🧵 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 .

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%.