synthetix

Synthetix protocol deploys its V3 components on the Arbitrum network. Here's what you should know about this:

Before delving into the utilities and leveraging this brings to the protocol itself and the derivatives market you should also see yourself as a key actor in this protocol if you belong to any of these categories:

1. YOU as a liquidity provider (I'll use LPs while you read on).
2. YOU as a trader.

Notwithstanding belonging to any of these categories having an understanding of what @synthetix is crucial:

Synthetix protocol is a liquidity layer that provides liquidity for various defi platforms integrated with it such as @kwenta.eth (Kwenta), and Toros. Before V3 deployment on Arbitrum, Synthetix served as a liquidity pipeline to Optimism and Ethereum then with the V2x phase. 

What does the V3 phase entail?

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

Trade with up to 50x leverage and deep liquidity at https://kwenta.io/

Regarding incentives allocated to liquidity providers, synthetix allocates 1M ARB worth of rewards to liquidity providers and that's not all via trading rebates, 900k ARB has been allocated for LPers. 

Integrators as well will earn trading fees for trades processed using its integration.

Due to milestones, more varieties of collaterals will be added for users to deposit and provide liquidity. Yield-bearing assets such as Lido, USDe etc. 

For a start you can start here using any of the integrators and deposit your collateral:

Due to milestones, more varieties of collaterals will be added for users to deposit and provide liquidity. Yield-bearing assets such as Lido, USDe etc. 

For a start you can start here using any of the integrators and deposit your collateral:

https://liquidity.synthetix.eth.limo/?ref=blog.synthetix.io

Due to this recent deployment, since users can mint USDx against their collateral it's also important to note that USDx cannot be exchanged at any ratio for snxUSD.


Both phases have different structures to fuel the liquidity layer.

What part of this deployment do you want to know about, I'll be here to answer!

Remember to be an actor in this protocol to maximize the V3 utilities. you can decide to be a liquidity provider. What good does this come with?

Provision of liquidity requires providing collateral using either of the following USDC,ETH or ARB where you can decide to send out your collateral to any integrator as mentioned in the first cast. 

When once collateral has been deposited, as a LPer, you can mint a stablecoin USDx against your collateral and this can be used for other activities on the synthetix platform.