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Synthetix v3

Synthetix V3 is currently under development and not live yet
Synthetix V3 aims to accomplish what Synthetix set out to do many yrs ago - transforming the protocol into a permissionless derivatives platform.
Synthetix V3 is a complete rebuild of the protocol from the ground up. Many DeFi architecture standards weren't standards when Synthetix was built. This rebuild will set Synthetix up with a much more efficient architecture to develop novel DeFi applications.

Long-term vision for Synthetix V3

  1. 1.
    Permissionless asset creation
  2. 2.
    “Liquidity as a Service” - Synthetix will be a liquidity service to build on to increase liquidity rapidly.
  3. 3.
    Better control of credit for stakers - choose what you collateralize

Why does V3 matter to builders?

• Create a pool to support [nearly] any financial derivative you want to build
• From traditional financial markets to more exotic markets such as no-loss lotteries or even wholly separate protocols
• Current (perceived) competitors could source and route liquidity through Synthetix to increase markets
• Solves the Cold Start liquidity problem - simplifying the provisioning of liquidity for early markets
• Integrating will take days, not weeks

Why does V3 matter to stakers?

• Simplified Staking
• Differentiated Debt Pools - supply collateral to, and receive fees from, specific asset pools without having to be exposed to every Spartan Council-supported asset
• New collateral types for staking
Last modified 6d ago