Description
Synthetify is a decentralized synthetic assets protocol basing on the Solana blockchain. The protocol allows for creation and exchange of synthetic assets that closely track price of their real counterparts. Synthetic tokens are based on the SPL-Token standard that gives them the ability to be easily integrated with other DeFi applications like AMM. Synthetify leverages the Solana ecosystem to enable a fast, cheap, and intuitive trading experience for users of the platform, while keeping it fully decentralized thanks to an infrastructure build on top of several smart contracts and blockchain oracles. Synthetify doesn't use an order book, which means no slippage (the price stays the same no matter the size of the trade) even in a volatile market. The platform supports multiple collaterals, such as SNY, SOL, USDC and renBTC. Staking collateral tokens gives stakers an ability to issue synthetic tokens and entitles them to a share of fees generated by the platform. In the future, SNY will give voting power providing their owners with permission to adjust protocol parameters or list new assets.