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Synthereum: synthetic assets with liquidity pools to bridge traditional and digital finance


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Next update : 1 month, 3 weeks ago | Last updated : 1 month, 3 weeks ago




{"ops":[{"insert":"The aim of our synthetic assets is to help creating fiat-based wallet and applications on any local currencies, and help to create stock, commodities portfolio in order to bring more traditional users within the DeFi ecosystem.\n\nThese synthetics are helping us to build products such as a non-custodial fiat-based trading platform for margin trading and a fiat-based DeFi wallet.\n\n\n"},{"attributes":{"underline":true,"bold":true},"insert":"Leveraging from UMA, Chainlink and Compound, Synthereum has a quite singular design:"},{"insert":"\n\nthey track the price of all the assets listed in Jarvis exchange: fiat currencies, indexes, bullion, stocks etc. using Chainlink oracles;"},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"They can be converted between them using a burn and minting mechanism;"},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"They are backed by cDAI (through rDAI) so they can generate interests;"},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"The collateral is provided by a a liquidity pool matching user's deposit; user only needs to deposit the exact value of the assets, and the pool is responsible for over-collateralizing the contract, and maintaining the collateral ratio;"},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"hence liquidity providers are the counterpart; they lose funds whenever user wins, and vice-versa; they can hedge their exposure using Jarvis exchange to open long/short position on Forex, Indexes, etc.;"},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"liquidity providers receive the interest generated on Compound by the collateral as well as the fees paid by users while minting assets;"},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"\nWe already have "},{"attributes":{"link":"https://kovan.etherscan.io/token/0x578cA6CEEcA711c4F79031F4f4395e29E5a72eE7"},"insert":"EUR"},{"insert":", "},{"attributes":{"link":"https://kovan.etherscan.io/token/0xD9e724198Ef996e6B0bE0E2562a12F94FD4dDe51"},"insert":"CHF"},{"insert":", "},{"attributes":{"link":"https://kovan.etherscan.io/token/0x4ab8F3203E336f31dC60053110C949cBEe019113"},"insert":"GBP "},{"insert":"and "},{"attributes":{"link":"https://kovan.etherscan.io/token/0x4498Af0E2160ff3E4BDA26EF9139EaFCfAd480D3"},"insert":"GOLD "},{"insert":"token on Kovan using UMA, rDAI and Chainlink: "},{"attributes":{"link":"https://synfiat.ethdapp.dev/"},"insert":"https://synfiat.ethdapp.dev/"},{"insert":" with a single liquidity provider,\n\nMore info in our article: "},{"attributes":{"link":"https://medium.com/@jarvisedge/synthereum-jarvis-synthetic-active-ingredients-fab7b43c02f5"},"insert":"https://medium.com/@jarvisedge/synthereum-jarvis-synthetic-active-ingredients-fab7b43c02f5"},{"insert":"\n\nCode: "},{"attributes":{"link":"https://gitlab.com/jarvis-network/smart-contracts/synthereum/SynFiat"},"insert":"https://gitlab.com/jarvis-network/smart-contracts/synthereum/SynFiat"},{"insert":"\n\n\n"},{"attributes":{"underline":true,"bold":true},"insert":"Roadmap:"},{"insert":"\n\nAs you all know, it is hard to give an accurante timeline so we will avoid doing that.\n\nwe will adopt the UMA's priceless framework in order to mitigate the front-running risk and to minimize the use of oracles"},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"we will be adding few thousands instrument this year, starting with fiat: EUR, CHF, GBP, JPY, NZD, CAD, AUD, ZAR, CNH, CZK, HKD, SGD, RUB, TRY, MXN, DKK, SEK, PLN, ILS"},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"we will then be adding europeans, asiatics and american stocks and indexes"},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"we will then open the pooling system to allow anyone to become a liquidity provider"},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"we will build an automated dealing desk system to automate the hedging"},{"attributes":{"list":"bullet"},"insert":"\n"}]}

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