PeopleDAO Improvement Proposal 0 (PIP0) passed with nearly 650M votes. PeopleDAO is established officially.
Welcome to the afterparty of #ConstitutionDAO! This is not over yet! (📜,📜)
#PeopleDAO $people
Synthetic asset protocols are not new; here’s how SYNTHR, however, is not something DeFi has seen before:
🟢 𝚂𝚈𝙽𝚃𝙷𝚁 𝚒𝚜 𝚂𝚘𝚕𝚟𝚎𝚗𝚝:
All syASSETS are backed by ETH, USDC, or USDT and supported by a non-cascading liquidation mechanism, i.e. a stability pool, to ensure protocol solvency at all times.
🟢 𝚂𝚈𝙽𝚃𝙷𝚁 𝚒𝚜 𝙾𝚖𝚗𝚒𝚌𝚑𝚊𝚒𝚗:
SYNTHR’s gas-optimized omnichain architecture allows it to mint an omnichain syASSET against an aggregated pool of multi-chain collateral and carry out cross-chain liquidations, enabling the protocol burn and mint syASSETS on any chain, empowering users to move seamlessly between ecosystems without using conventional AMM-based bridges.
🟢 𝚂𝚈𝙽𝚃𝙷𝚁 𝚒𝚜 𝚂𝚎𝚌𝚞𝚛𝚎:
SYNTHR uses multiple independent consensus layers to validate all cross-chain communication, thereby deterring collusion between core contracts and the relayer.
🟢 𝚂𝚈𝙽𝚃𝙷𝚁 𝚒𝚜 𝙲𝚊𝚙𝚒𝚝𝚊𝚕-𝙴𝚏𝚏𝚒𝚌𝚒𝚎𝚗𝚝:
SYNTHR enables users to mint against high-quality yield-bearing collateral at a collateralization ratio of 150%.
The protocol also runs a dynamic DEX price protection algorithm to ensure price pegging between DEX and oracle prices of syASSETS.
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