Synthetify

Synthetify is a decentralized protocol allowing for creation and exchange of synthetic assets without the need of a counterparty.

Synthetify is a simple decentralized protocol for synthetic assets build on Solana. Synthetic assets are backed by SNY tokens. Staking of SNY gives users participation in a global debt pool, which acts as counterparty for other users to trade against.Participants of debt pool earn a share of fees generated by exchange of synthetic assets. Users can free up their staked tokens by burning synthetic tokens of value of users current debt. Price of assets is determined by oracles that gather the price of specific assets and post it to Solana blockchain. Synthetic assets can be used in all other applications (Serum,Raydium) or even migrated into other chains via bridge. Users of Synthetify exchange can expect fees near zero (0.001$) and close to instant confirmation time. Project is live here: https://synthetify.io/

Learn More

DISCLAIMER: The information presented herein has been provided by third parties and is made available solely for general information purposes. The operator of Solana.com (“Solana.com”) does not warrant the accuracy, completeness or usefulness of this information. Any reliance you place on such information is strictly at your own risk. Solana.com disclaims all liability and responsibility arising from any reliance placed on this information by you or by anyone who may be informed of any of its contents. All statements and/or opinions expressed in these materials are solely the responsibility of the person or entity providing those materials and do not necessarily represent the opinion of Solana.com. The information should not be construed as professional or financial advice of any kind. Advice from a suitably qualified professional should always be sought in relation to any particular matter or circumstance.

The information herein may link to or integrate with other websites operated or content provided by third parties, and such other websites may link to this website. Solana.com has no control over any such other websites or their content and will have no liability arising out of or related to such websites or their content. The existence of any such link does not constitute an endorsement of such websites, the content of the websites, or the operators of the websites. These links are being provided to you only as a convenience and you release and hold Solana.com harmless from any and all liability arising from your use of this information or the information provided by any third-party website or service.