Nick Chong · 2 hours ago · 2 min read
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Nick Chong · 3 weeks ago · 2 min read
Shaurya Malwa · 7 hours ago · 2 min read
SynLev is a group of synthetic leveraged asset pairs built and tokenized on Ethereum, price fed data from Chainlink oracles. The goal of SynLev is to provide decentralized, trustless, and non-KYC gated leveraged assets that behave similarly to traditional leveraged ETF’s (e.g. 3X BULL ETH/USD token). Traditionally leverage is achieved through debt or fund re-balancing.
SynLev assets do not require fund re-balancing or any form of debt. SynLev assets are deployed in pairs and are collateralized by both the ETH required to mint the tokens, the performance of the opposing asset, and liquidity providers. This system enables unique benefits. Foremost there is no need for an individual counterparty, the effective counterparty for a BEAR token is the entire equity of a BULL token and liquidity providers, greatly reducing counterparty risk. Token pairs are isolated, dramatic price movement cannot affect liquidity of the entire system. Assets do not rely on pooled shared collateral, there is no limit to the amount of assets that can be minted. Assets always retain 100% liquidity.
SynLev supports assets, commodities, or indices that have public decentralized oracles. All fees generated from asset purchasing (minting) and selling(burning) are distributed to SYN holders who stake SYN tokens and liquidity providers.