Davide
@0xdavide
⚔️ Synthetix Network has completely changed its Staking system. Up until 2 weeks ago, it was possible to stake $SNX, create debt in $SUSD and then use it for trading or other operations. The collateralization ratio was 500% with liquidation below 160%. After $SNX reached the maximum supply (ended emissions), stakers received burn fees (debt) and part of the liquidated $SNX. ▶Now the system changes from a "single pool" to a "general pool". WHAT CHANGES WITH THE MIGRATION TO POOL 420? ✦Linear forgiveness of the debt accumulated within 1 year (who burned their debt in the last few days?) but penal if you unstake before (with part of the residual debt to be repaid). Debt burns 50% after 6 months. Unstaking lasts 7 days. ✦For new users or debt-free stakers, there will be a special incentive program. ✦Elimination of liquidation risks.
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Davide
@0xdavide
✦Improved capital efficiency and management (previously limited by high collateralization ratio). ✦More liquidity managed "automatically" (2.5 $SUSD more minted for 1 $SNX) thanks to a 200% collateralization ratio. ✦Real yield (no inflation) for stakers thanks to external strategies (Ethena, Aave, Morpho, Curve, etc) and $SNX buybacks (based on protocol performance and yield). If the protocol manages to achieve good performance, $SNX will become extremely bullish because: 1) There are no unlocks. 2) Staking is not inflationary (Real Yield) as emissions have ended. 3) There will probably be a $SNX buyback. Website (420 Pool/Staking): https://420.synthetix.io/
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