{"id":421055,"date":"2022-03-24T23:29:40","date_gmt":"2022-03-24T20:29:40","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/synthetix-commence-debt-pool-merger-to-enhance-liquidity-and-staking-capabilities\/"},"modified":"2022-03-24T23:29:40","modified_gmt":"2022-03-24T20:29:40","slug":"synthetix-commence-debt-pool-merger-to-enhance-liquidity-and-staking-capabilities","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/synthetix-commence-debt-pool-merger-to-enhance-liquidity-and-staking-capabilities\/","title":{"rendered":"# Synthetix commence debt pool merger to enhance liquidity and staking capabilities"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3dd2b846bcf\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3dd2b846bcf\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/synthetix-commence-debt-pool-merger-to-enhance-liquidity-and-staking-capabilities\/#%E2%80%9D_Synthetix_commence_debt_pool_merger_to_enhance_liquidity_and_staking_capabilities_%E2%80%9C\" >&#8221; Synthetix commence debt pool merger to enhance liquidity and staking capabilities &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Synthetix_commence_debt_pool_merger_to_enhance_liquidity_and_staking_capabilities_%E2%80%9C\"><\/span>&#8221; Synthetix commence debt pool merger to enhance liquidity and staking capabilities &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvMzk4M2MxMTctM2MwNC00OGFhLWJhYmUtYjIyMzg4NTcxZmMyLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Decentralized finance, or DeFi, protocol Synthetix (SNX) has announced that the deployment of their Debt Pool Synthesis feature will occur on Thursday 9pm through 11pm UTC, expected to impact staking participants in two distinctive categories: SNX inflationary staking rewards and Debt Hedging.<\/p>\n<p>Currently, Synthetix operates debt pools across two chains, Ethereum mainnet and layer 2 Ethereum scaling solution Optimism, which have amassed an accumulative total-value-locked of $930 million and $157 million, respectively.<\/p>\n<p>The company have stated their intention to transition into an &#8220;Optimism-native protocol&#8221;, with one of their council members kain.eth <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/kaiynne\/status\/1504560980873064448\">advocating<\/a>\u00a0this route by stating the vast growth\u00a0potential of\u00a0Optimism.<\/p>\n<p>On the subject of debt hedging \u2014 a method of derivate investment designed to reduce asset exposure \u2014 it was calculated that the total-value of the two pools once merged equates to sETH: 31% Short, sBTC: 25% Long, sUSD: 27% Long, other assets: 11% Long, and sEUR: 7% Long.<\/p>\n<p>Cointelegraph reached out to a spokesperson from Synthetix for a deeper insight into the specific method for merging a L1 debt pool with an L2, as well as the benefits and challenges that could arise during the process.<\/p>\n<p>Utilizing Chainlink oracles as the core component of consensus for the total debt accumulation, they stated that the \u201cdebt amount for all of the issued synths is calculated off-chain, and then the value is pushed on-chain using Chainlink&#8217;s decentralized oracle network, which is read by Synthetix contracts on both L1 and L2.\u201d<\/p>\n<blockquote><p>\u201cMerging the debt pools provides maximum liquidity across the protocol and [the ability to] transfer synths between multiple chains efficiently via cross-chain messaging, rather than relying on automated market makers\u2026 debt pool synthesis allows the protocol to have fungibility on both L1 and L2.\u201d<\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">H<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>y Debt Pool Synthesis Day!<\/p>\n<p>Starting later today, March 24th, at 9pm UTC, the debt pools on L1 and L2 will be merged into one.<\/p>\n<p>This paves the way for Synth Teleporters, where synths can instantly be moved to any chain and fungibility b\/w <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/optimismPBC?ref_src=twsrc%5Etfw\">@optimismPBC<\/a> and mainnet<\/p>\n<p>Get ready. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/JfcsR4DYEH\">https:\/\/t.co\/JfcsR4DYEH<\/a><\/p>\n<p>\u2014 Synthetix \u2694\ufe0f (@synthetix_io) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/synthetix_io\/status\/1506986500054994949?ref_src=twsrc%5Etfw\">March 24, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nIn addition to the improvements for debt hedging, Synthetix is also implementing a long-awaited functionality \u2014 initially proposed via governance in May 2020&#8217;s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/sips.synthetix.io\/sips\/sip-80\/\">SIP 80<\/a> (Synthetix Improvement Proposal) \u2014 to create a pooled synthetic futures contracts, with the networks native asset SNX being the financial instrument.\u00a0<\/p>\n<p>Later in our conversation, the spokesperson from Synthetix commented on the diversify of assets that Synths currently replicate, to which they stated that &#8220;Synthetix has synths for several financial assets including crypto and Defi tokens, forex and commodities&#8221;, before revealing:<\/p>\n<blockquote><p>&#8220;We can deploy synths for any assets or instrument where we can secure a reliable feed. That opens the door to synths based on the price action of equities, measures of volatility, interest rates, or other novel mechanisms like our own debt pool.&#8221;<\/p><\/blockquote>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/synthetix-commence-debt-pool-merger-to-enhance-liquidity-and-staking-capabilities\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Synthetix commence debt pool merger to enhance liquidity and staking capabilities &#8220; Decentralized finance, or DeFi, protocol Synthetix (SNX) has announced that the deployment of their Debt Pool Synthesis feature will occur on Thursday 9pm through 11pm UTC, expected to impact staking participants in two distinctive categories: SNX inflationary staking rewards and Debt Hedging&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":421056,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvMzk4M2MxMTctM2MwNC00OGFhLWJhYmUtYjIyMzg4NTcxZmMyLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74983,74868,127139],"class_list":["post-421055","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-decentralization","tag-defi","tag-synthetix"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/421055","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=421055"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/421055\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/421056"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=421055"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=421055"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=421055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}