we just win

[Anonymous No.16006798]

https://github.com/Synthetixio/synthetix/issues/293

[Anonymous No.16006825]

>>16006798
Who?

[Anonymous No.16006836]

Who dat

[Anonymous No.16006848]

Ohw yllaretil

[Anonymous No.16006869]

>competition adopts LINK
NEVER GETTING TIRED OF WINNING

[Anonymous No.16006896]

>>16006869
they were never competition to link, they're competion to market protocol which was another ETH derivatives platform

this is the derivatives coming this year the sergey was talking about, a low volume erc20 dex for derivatives

[Anonymous No.16006916]

>>16006825
>>16006836
the guys working with santander

[Anonymous No.16006973]

>>16006896
Literally delete this tho, that's the only real fud

[Anonymous No.16006976]

> https://www.youtube.com/watch?v=GIu67qMAp7M

[Anonymous No.16007202]

>>16006973
i bought a little SNX the other day because people urinonically don't know how big this really is

it's pretty simple proposition from here to make a derivative for anything.... if the platform is secure they can basically sell offsetting positions for anything they want as long as they have a data feed. Nobody can stop you from trading, and you can send your positions to anyone else without an intermediary.

This is the first real crack in the dam of tradfi.

[Anonymous No.16007213]

>>16006916
having a bank account at santander isn't special anon

[Anonymous No.16007214]

>>16006798
>shitcoin combining shit with another shitcoin to make a shit poo pile

[Anonymous No.16007244]

It's all so tiresome

[Anonymous No.16008056]

Andre Cronje who's developping with fantom tech just forked synthetix repos

[Anonymous No.16008068]

>>16008056
And fanrom is rumored to use chainlink

[Anonymous No.16008137]

>>16006916
Source?

[Anonymous No.16008158]

>>16007202
Synthetix is a ponzi scam and not a revolution.
The only collateral for all those positions is locked snx, which has a market cap of $95M and a volume of $165k. It only works as long as the amount of money going in is larger than the amount taken out. Once the flows reverse there's no market support for liquidate snx at all.

[Anonymous No.16008171]

>>16008158
>for
to

[Anonymous No.16008193]

>>16008158
Is it salvageable though? Perhaps it can be modified to allow for other collateral?

[Anonymous No.16008211]

>>16008193
That defeats the point of synthetix devs contributing their time to the project. Ideally for them, synth is perceived and used like MKR

[Anonymous No.16008249]

>>16008193
It could, but you are asking why something designed to be a ponzi to enrich the team is a ponzi. SNX would absolutely collapse if they did that.
Another problem is how it's monetized. There are fees charged on every transfer of a "synth", akin to deflationary tokens. It's trivial to lock synths in a smart contract and transfer them for free, as already happened to several deflationary tokens. Without these fees SNX is absolutely worthless.
It only didn't happen yet because next to nobody is actually using synthetix.
https://etherscan.io/token/0x57ab1e02fee23774580c119740129eac7081e9d3#tokenAnalytics
>unique senders 100

The valuation is almost at $1M/daily user

They realized the danger of this in their first whitepaper, which is why their first version had a "court" system which was supposed to confiscate tokens that tried to escape fees. They removed it eventually, but the contract remains 100% mutable. They can confiscate anyone's balance if they want.
https://www.reddit.com/r/ethereum/comments/d4edxm/the_synthetix_dapp_deleted_my_balance/

[Anonymous No.16008258]

>>16006825
the biggest little project in the world

[Anonymous No.16008276]

>>16008158
yes but so far the incentive structure has provided a lot of value and has a lot of room to grow, so in the short term I don't see any problems. there is an answer to this though which I believe will be implemented and will solve the problem. I'm not going to say what it is or where to read about it because your post is the only legitimate fud and I'm not going to dispel it by spoonfeeding. but it will be taken care of and will ultimately be huge IMO

[Anonymous No.16008350]

>>16008249
>There are fees charged on every transfer of a "synth", akin to deflationary tokens.
not since feb 2019

[Anonymous No.16008450]

>>16008350
how are fees collected now then?

[Anonymous No.16008597]

>>16008450
trading fees on snx exchange and a proportional amount of weekly "staking" which is a weekly airdrop subsidy of snx tokens to holders, both based on the percentage of the system debt that you have issued, and which are not claimable if your collateralization is below 685%. the idea is that the staking subsidy is needed to incentivize activity while the exchange gets more and more volume and the system debt grows i.e. there are more synths able to be traded

[Anonymous No.16008614]

>>16008597
>trading fees on snx exchange
ok
>a proportional amount of weekly "staking" which is a weekly airdrop subsidy of snx tokens to holders
that's not real income, that's just inflation which changes nothing.

[Anonymous No.16008669]

>>16008614
true although those rewards are actually vested so you can't move them for a year, although you can issue sUSD debt based on them like any other snx.

[Anonymous No.16009085]

>>16008669
>vested so you can't move them for a year
so yet another ponzi mechanism lol

[Anonymous No.16009091]

Vechain-tier announcements, lmao.

[Anonymous No.16009296]

>>16009085
there is inflation though, but that comes from subsidies to the sETH uniswap liquidity pool. 72k weekly snx are distributed based on a snapshot at the beginning of each fee period to uniswap liquidity providers who kept holdings and did not subtract any holdings from the uniswap seth/eth pool. This is why sETH has the highest uniswap liquidity. all existing sETH could be locked and it would still be a huge yield at the current price of SNX, with what can be minted. something like 70% of sETH is in there right now and the yield is very high. those dont vest, and you can do this even if you're not staking snx. there is also a weekly 2% refill of an arbitrage contract that can be used when the sETH /ETH ratio goes above 1.01 which will take the sETH off the market and give you the equivalent value of snx.

like I said. there is a mechanism that will fix a lot of the ponzi concerns and turn it into something much more compelling. at the moment, it has to be supported with high subsidies but that doesn't mean there's not money to be made interacting with it.

[Anonymous No.16009315]

>>16006798
Not only did these nerds bend the knee, but also proposed? These are some classy suitors.

[Anonymous No.16009323]

>>16009296
Do you work for them or something? Why bother spoonfeeding?

[Anonymous No.16009422]

>>16009323
I don't work for them I just think it's a good project and wanted to counterbalance the fud a little

[Anonymous No.16009475]

>>16009323
>>16009422
but I should also say I'm just some guy. all I wanted to do was dispel facts, not give out financial information. the snx token has gone something like 15x in dollar value over the course of less than a year. many times, buying a lot of something that has such a price history would only be done by a madman. so DYOR

[Anonymous No.16009536]

>>16008158
DELETE THIS

[Anonymous No.16009733]

>>16009475
>dispel facts

[Anonymous No.16009745]

>>16008158
>muh ponzi
The funny thing is, people still fall for this type of fud. Weird.

[Anonymous No.16009754]

>>16006798
This time it's actually literally who

[Anonymous No.16010280]

>>16009733