synthetix

Synthetix is a liquidity layer for onchain derivatives, primarily supporting Synthetix Perps on Optimism and Base.

Considering the actors of protocol enables the protocol to drive attention to the "possible incentives that can be given to them". 

Talking about incentives and talking about actors of platform/protocol. These actors are users contributing to the success of the protocol and the incentives as a tool to retain.

Here's how @synthetix decides to incentivize traders:

When using centralized exchanges for trading, fees charged for each perp futures trade on an average weighs much more than when trading with DEXes.

Synthetix aims to incentivize his users for the next 10 weeks with a 90% rebate fee on Base V3 using any of its integrators which includes: Kwenta, or Polynomial. 


Let's say you get to place a trade:

Every trade has its basic points fees where for Synthetix peeps it's a 2bp for markers and 6bp for takers.

Now this Bp spreads even across any asset you want to trade. Let's say the trading volume at that time is 100M on a chain.

Fees per each trade will be 0.02% of trading volume which can't be approx. to 1. that's 0 fees compared to trading on CEX. 

Now with this incentive, traders are given a rebate of their trades. Where 50k $SNX per week will be shared till cap is closed.

You can check through the link:

Currently, the rebate fees incentivization has been for the past 7 weeks and in 3 weeks time will be ending.

Are you a trader, or liquidity provider? Most importantly as a trader, you get 0 fees for your trade + rebate and as a liquidity provider, you earn an increase when more traders trade the synthetix perps. 


Recast for traders to view in the next few weeks! Once again I'll be in the comment section, to respond to your questions!

Every trade has its basic points fees where for Synthetix peeps it's a 2bp for markers and 6bp for takers.

Now this Bp spreads even across any asset you want to trade. Let's say the trading volume at that time is 100M on a chain.

Fees per each trade will be 0.02% of trading volume which can't be approx. to 1. that's 0 fees compared to trading on CEX. 

Now with this incentive, traders are given a rebate of their trades. Where 50k $SNX per week will be shared till cap is closed.

You can check through the link:   https://base-rebates.synthetix.io/?ref=blog.synthetix.io