The State of Synthetix Staking Yield Breakdown Synthetix initially had a total supply...existed within the Synthetix ecosystem....Unlike other DApps built on top of Synthetix, Thales does not utilize Synthetix liquidity....Note: Some Dune Analytics queries used for Synthetix had bugs and time-limited data, the numbers may...

Let’s talk about Mirror, which just passed Synthetix in daily trade volume for the first time....Since most Synthetix minters are there for the rewards in the first place, this results in Synthetix...The ideal exposure for Synthetix as a platform is to be market neutral across their book.

Applications on Optimism Uniswap V3 and Synthetix are the first major DeFi applications that have launched...For example, Synthetix only recently enabled trading, and the current c-ratio on Optimism is set at 1000%...It’s also important to note that, in the case of Synthetix, L1 trading fees are not shared with stakers...

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Mirror Eclipses Synthetix In Terms of Trades Per User Mirror protocol eclipses Synthetix as the top...synthetic assets platform with more than 3,000 daily active users (DAUs) compared to 60-70 DAUs on Synthetix...But Average Volume Per User Is Much Higher On Synthetix On the surface, it looks like Mirror appeals...

Virtual pricing includes the likes of GMX, Gains Network, and Synthetix....Synthetix using dynamic fees and a funding rate to manage open interest and balance the long-short skew...It’s great to see how far Synthetix and the virtual pricing model have come.

Just a few months ago we previewed Synthetix perps’ OP Incentive program, which distributed 300K OP/week...More notably, Synthetix perps market share has maintained its position ahead of its main competitor,...As the incentives have wound down, banter between the Synthetix and GMX communities on crypto twitter...

Synthetix perps V2 has performed well during its initial rollout....Synthetix is in a very attractive position with it’s OP allocation....Synthetix was allocated 9M OP, joint highest along with Perp Protocol....Kwenta, the leading frontend for Synthetix perps, will be using its OP allocation in tandem with Synthetix...

In my pursuit of innovative yield strategies, I’ve come across a delta-neutral strategy utilizing Synthetix...For clarity, let’s briefly delve into the mechanics of Synthetix perps: Synthetix perps operate on a...Maintaining equilibrium in open interest (OI) is paramount to reducing risks for Synthetix.

...most of the leading layer 2 teams and DeFi projects such as ZkSync, Starkware, Fuel, Loopring, Aave, Synthetix...network and does not require porting of code to a new language plus has the backing of DeFi giants Synthetix...Cairo for StarkEx) in order for a project to migrate over, which is a showstopper for some projects, as Synthetix...

Exploring Protocol Design Synthetix Synthetix perps v1 launched in March 2022 and was marred by wide...Synthetix v3 Under the current Synthetix V2x regime, Synthetix perps are supported by a monolithic pool...Synthetix v3 will be a complete redesign of the Synthetix ecosystem.

One of the earliest projects that committed to building on Optimism is Synthetix, which accounted for...Moving to Optimism has significant benefits for Synthetix such as low-cost trading and sped-up oracle...Today, this product brings in a majority of all fees earned by Synthetix....Total trades on Synthetix have been steadily increasing over the past 3 months.

Synthetic asset protocols like Mirror and Synthetix have their own share of flaws too....For Synthetix, the biggest annoyance is the high collateralization ratio....While Mirror’s collateralization floor is 150%, Synthetix’s floor is 500%....Synthetix and Mirror rely on Chainlink and Band Protocol oracles respectively.

DeFi Summer Four years ago, DeFi “Blue-Chips” such as lending protocol AAVE and derivatives protocol Synthetix...This is similar to how Synthetix works, but Gains Network doesn’t bother with spot synths, and targets...a collateralization ratio closer to 100% (much lower than Synthetix’s c-ratio of 400%).

Synthetix In a way, Synthetix’s spot synths are already “perps”, they just aren’t levered yet....As part of the Synthetix V3 redesign, the team emphasized their focus to deploy on a layer 2....The release of Synthetix’s perps are expected sometime in Q3 2021 once Optimism is fully live....Synthetix’s perpetual swaps will utilize the same model as spot synths.

Some current options for wider DeFi exposure are buying sDEFI on Synthetix or trading DeFi perps on FTX...There is $1.48m locked in BTC ++ BTC++ Composition: o    25% wBTC (Wrapped BTC) o    25% sBTC (Synthetix...

The other concern is dHedge, or Synthetix’s (SNX’s) non-custodial platform for active management....Given the sheer size of Synthetix’s community, this is a competitor worth keeping an eye on.

SCCP-142: This proposal increases Synthetix L2 inflationary rewards from 50k SNX to 75k SNX per week....SCCP-143: 143 increases the capacity of Synthetix’s L2 ETH Wrappr to 1500 and modifies the sUSD minting...SCCP-144: To meet demand, Synthetix voted to increases their L2 ETH Wrapper capacity from 1500 to 2200...

The Synthetix Ecosystem Synthetix is a derivatives platform that enables users to mint and trade synthetic...When the AMM sells a sETH call, it purchases 1 sETH from Synthetix with LP funds....This heavy reliance on Synthetix could be long-term detrimental to Lyra if Synthetix fails to scale synth...