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Ecosystem Update: SYNTHR x Shardeum

Shardeum is thrilled to welcome SYNTHR to its ecosystem. SYNTHR is an omnichain synthetic asset protocol that provides users access to frictionless interoperability and slippage-free multichain liquidity. It uses novel systems for collateral management, risk mitigation, price stability, cross-chain interoperability, and composability. Two critical aspects of the decentralized ecosystem have made implementing the protocol’s framework possible. The first is the advent of efficient oracle networks, which provide tamper-proof inputs, outputs, and computations to support advanced smart contracts. The second is the evolution of on-chain debt management principles to maintain protocol solvency and liquidity.

The integration will have the following benefits for users:

  • Swap into any asset on any chain with zero slippage without bridging.
  • Mint synthetic assets (by staking collateral – ETH, USDC, and USDT) and add syAsset liquidity on partner DEXs. LPs earn not only swap fees but also a share of protocol fees.
  • Take chain-agnostic price exposure to assets. Users can take price exposure to assets not listed in the user’s native ecosystem in their synthetic forms.
  • Create cross-chain CDPs (collateral on one chain and mint on a second chain).
  • Trade cross-chain futures, options, and perps (collateral on one chain and trade on a more gas-efficient chain).

Connect with SYNTHR:

Disclaimer: In no event shall Shardeum Foundation, “licensor,” its associates, its employees, its contractors, its board members, and its partners be liable for any special, direct, indirect, incidental, exemplary, or consequential damages, expenses, lost profits, lost savings, business interruption, lost information, or any other damages arising out of the use or inability to use the Shardeum blockchain, its layer one technology, its derived or compiled software, or its source code, even if such party has been advised of the possibility of such damages and notwithstanding the failure of essential purpose of any remedy. In no event shall the licensor be liable under any theory of liability, whether in an equitable, legal, or common law action arising hereunder for contract, strict liability, indemnity, tort (including negligence), or otherwise, for damages which exceed $1,000 and notwithstanding the failure of essential purpose of any remedy.

Last Updated on July 24, 2023

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