SYNTHR – Advanced cross-chain infrastructure

Ritwik Rudra Vithuran Karvannathasan

05/07/2022

I. Premise omnichain syASSETS. It utilizes synthswap, the protocol's native zero-

slippage DEX, in addition to the GMP and oracle aggregators, to burn and
A. Multi-chain landscape mint omnichain syASSETS, enabling you to perform zero-slippage cross-
chain swaps.
While blockchain technology is gaining popularity, the number of chains
is also increasing, with each chain serving its unique purpose, such as b. Real yield
privacy, scalability, or vertical specialization. Each of these chains has its
own community, culture, protocols, memes, and NFTs. Today's users want • Farming rewards: SYNTH rewards
to explore these opportunities in a manner that is exceptionally capital-
efficient and extremely secure. • Liquidation rewards: SYNTH rewards

B. Poor user experience • Minting rewards: syUSD rewards

Navigating the multi-chain landscape requires you to interact with • veSYNTH rewards: SYNTH and syUSD rewards
bridges and DEX aggregators and switch between assets. While we've
made significant improvements in consensus mechanisms, high- 2. Extreme security
throughput execution layers, modularity, and syntax, our approach to
cross-chain liquidity is still very pedestrian. Many of the current cross- • The GMP aggregator aggregates multiple independent consensus
chain solutions suffer from basic capital efficiency and security issues, layers to validate cross-chain messages, ensuring democratic,
resulting in a poor user experience. While atomic swaps improve capital guaranteed, and trustless finality. This creates an iron curtain
efficiency and GMPs improve security, a comprehensive solution to the between the core contracts and relayers, preventing collusion
cross-chain liquidity problem is still missing. between them. The protocol also conducts regular audits, provides
comprehensive insurance, and runs bug bounty programs.
C. Scripting an abstract future
• The oracle aggregator aggregates multiple high-quality pull and
Our mission is to fundamentally reinvent cross-chain technology with a push price feeds, ensuring front-running mitigation, MEV protection,
special focus on cross-chain liquidity. SYNTHR's cross-chain reduced latency, and swap efficiency.
infrastructure, using its zero-slippage omnichain liquidity, enables you to
explore every chain and opportunity with exceptional capital efficiency 3. Support components
and extreme security. SYNTHR is the home of liquidity abstraction.
• The AI-powered delta-neutral vault utilizes the hedge and stability
II. Product pools to earn a delta-neutral, risk-free yield. The hedge pool mirrors
the omnichain global debt pool, ensuring delta neutrality, while the
A. Advanced cross-chain architecture stability pool earns a risk-free yield by liquidating
undercollateralized users.
SYNTHR's cross-chain infrastructure gives you access to SYNTHR's zero-
slippage omnichain liquidity, in addition to the GMP aggregator that • The dynamic peg protection mechanism, or DRASR, utilizes the long
aggregates multiple independent consensus layers, the oracle aggregator and short-farm vaults to maintain parity between DEX and oracle
that aggregates multiple high-quality pull and push price feeds, and prices. The long-farm vault utilizes its deposits to buy omnichain
various other support components. The protocol enables you to create syASSETS on DEXs and farm LP tokens, while the short-farm vault
borderless, or omnichain, applications and transfer value between chains utilizes its deposits to mint omnichain syASSETS and sell them on
in a manner that is exceptionally capital-efficient and extremely secure. DEXs. The protocol utilizes automated arbitrage bots to perform the
buy and sell transactions.
1. Exceptional capital efficiency
• The hedge pool mirrors the omnichain global debt pool, ensuring
SYNTHR's zero-slippage omnichain liquidity, the most important
delta neutrality. The hedge pool also enables you to protect yourself
component of SYNTHR's cross-chain infrastructure, utilizes omnichain
against black-swan liquidations and price volatility risks.
syASSETS to perform zero-slippage cross-chain swaps. The protocol
enables you to earn real yield by providing liquidity to SYNTHR's zero-
• The stability pool ensures protocol solvency, performs non-
slippage omnichain liquidity. This requires you to add high-quality short-
cascading cross-chain liquidations, and preserves overall system
tail and yield-bearing liquid assets as collateral, mint omnichain
health. The stability pool also enables you to earn a risk-free yield by
syASSETS, and preserve a 150% minimum c-ratio. Omnichain syASSETS
liquidating undercollateralized users.
also enable you to access #BUIDLonSYNTHR protocols and hold your
liquidity in synthetic alts, BTC, RWAs, or stables.
III. Protocol vs. other cross-chain liquidity solutions

a. Architecture
• The AI-powered delta-neutral vault utilizes the hedge and stability
pools to earn a delta-neutral, risk-free yield. The hedge pool mirrors
SYNTHR's zero-slippage omnichain liquidity rests on the protocol's light
the omnichain global debt pool, ensuring delta neutrality, while the
chain-main chain architecture and omnichain global debt pool. The main
stability pool earns a risk-free yield by liquidating undercollateralized
chain aggregates cross-chain state changes, ensuring gas-optimized and
users.
trustless cross-chain synchronicity. The omnichain global debt pool
aggregates cross-chain collateral and debt balances, enabling you to mint
• The dynamic peg protection mechanism, or DRASR, utilizes the long The AI-powered delta-neutral vault utilizes the hedge and stability pools to
and short-farm vaults to maintain parity between DEX and oracle earn a delta-neutral, risk-free yield. The hedge pool mirrors the omnichain
prices. The long-farm vault utilizes its deposits to buy omnichain global debt pool, ensuring delta neutrality, while the stability pool earns a
syASSETS on DEXs and farm LP tokens, while the short-farm vault risk-free yield by liquidating undercollateralized users. The AI-powered
utilizes its deposits to mint omnichain syASSETS and sell them on delta-neutral vault utilizes its deposits to buy syUSD on a DEX and swap
DEXs. The protocol utilizes automated arbitrage bots to perform the them for hedge pool tokens. The protocol backs all hedge pool tokens with
buy and sell transactions. syASSETS in proportion to the omnichain global debt pool composition and
rebalances the hedge pool tokens every 2 days.
• The GMP aggregator aggregates multiple independent consensus
layers to validate cross-chain messages, ensuring democratic, B. Dynamic peg protection mechanism
guaranteed, and trustless finality. This creates an iron curtain
between the core contracts and relayers, preventing collusion between
them. The protocol also conducts regular audits, provides
comprehensive insurance, and runs bug bounty programs.

• The hedge pool mirrors the omnichain global debt pool, ensuring delta
neutrality. The hedge pool also enables you to protect yourself against
black-swan liquidations and price volatility risks.

• The main chain aggregates cross-chain state changes, ensuring gas-

optimized and trustless cross-chain synchronicity.
Dynamic rewards allocation for spread reduction, or DRASR, the
• The omnichain global debt pool aggregates cross-chain collateral and protocol's dynamic peg protection mechanism, utilizes the long and short-
debt balances, enabling you to mint omnichain syASSETS. farm vaults to maintain parity between DEX and oracle prices. The long-
farm vault utilizes its deposits to buy omnichain syASSETS on DEXs and farm
LP tokens, while the short-farm vault utilizes its deposits to mint syASSETS
• The omnichain global debt pool utilizes synthswap, the protocol's
and sell them on DEXs. The protocol utilizes automated arbitrage bots to
native zero-slippage DEX, in addition to the GMP and oracle
perform the buy and sell transactions.
aggregators, to burn and mint omnichain syASSETS, enabling you to
perform zero-slippage cross-chain swaps.
1. APR formula
• The oracle aggregator aggregates multiple high-quality pull and push
𝑦 = 𝑥 + 0.3 𝑓𝑜𝑟 𝑥 ≤ 3 ⟶ 𝑙𝑖𝑛𝑒𝑎𝑟 𝑐𝑢𝑟𝑣𝑒
price feeds, ensuring front-running mitigation, MEV protection,
reduced latency, and swap efficiency.
𝑦 = 𝑥 ! ÷ 4 𝑓𝑜𝑟 3 < 𝑥 ≤ 6 ⟶ 𝑞𝑢𝑎𝑑𝑟𝑎𝑡𝑖𝑐 𝑐𝑢𝑟𝑣𝑒

• The protocol backs all omnichain syASSETS with high-quality short-

𝑦 = 𝑥 " ÷ 10 𝑓𝑜𝑟 6 < 𝑥 ≤ 10 ⟶ 𝑐𝑢𝑏𝑖𝑐 𝑐𝑢𝑟𝑣𝑒
tail and yield-bearing liquid assets as collateral with a 150%
minimum c-ratio, ensuring high solvency.
≻ 𝑥 = 𝐷𝐸𝑋 𝑝𝑟𝑖𝑐𝑒 𝑑𝑖𝑠𝑐𝑜𝑢𝑛𝑡 𝑡𝑜 𝑜𝑟𝑎𝑐𝑙𝑒 𝑝𝑟𝑖𝑐𝑒 𝑏𝑜𝑢𝑛𝑑 𝑡𝑜 0% ≤ 𝑥 ≤ 10%

• The stability pool ensures protocol solvency, performs non-cascading

≻ 𝑦 = 𝐿𝑜𝑛𝑔 − 𝑓𝑎𝑟𝑚 𝑣𝑎𝑢𝑙𝑡 𝐴𝑃𝑅 𝑏𝑜𝑢𝑛𝑑 𝑡𝑜 0% ≤ 𝑦 ≤ 100%
cross-chain liquidations, and preserves overall system health. The
stability pool also enables you to earn a risk-free yield by liquidating
2. 𝒔𝒚𝑨𝑺𝑺𝑬𝑻#$% '()*+ > 𝒔𝒚𝑨𝑺𝑺𝑬𝑻,(-*.+ '()*+
undercollateralized users.

In this scenario, the dynamic peg protection mechanism decreases long-

IV. Protocol revenue distribution
farm vault rewards, making long-farm vault farming less attractive. The
short-farm vault utilizes its deposits to mint omnichain syASSETS and sell
• Buyback and burn: 10%
them on DEXs, exploiting arbitrage profits.

• Minting rewards: 60%

3. 𝒔𝒚𝑨𝑺𝑺𝑬𝑻#$% '()*+ < 𝒔𝒚𝑨𝑺𝑺𝑬𝑻,(-*.+ '()*+

• veSYNTH rewards: 30%

In this scenario, the dynamic peg protection mechanism increases long-
farm vault rewards, making long-farm vault farming more attractive. The
V. Protocol specifications
long-farm vault utilizes its deposits to buy omnichain syASSETS on DEXs and
farm LP tokens. This is similar to perpetual funding rates.
A. AI-powered delta-neutral vault

C. GMP aggregator

The GMP aggregator aggregates multiple independent consensus layers to

validate cross-chain messages, ensuring democratic, guaranteed, and
trustless finality. This creates an iron curtain between the core contracts
and relayers, preventing collusion between them. The GMP aggregator
enables you to choose your preferred consensus layer, use more than one
consensus layer, or select the most gas or time-efficient consensus layer
to validate your cross-chain messages. This democratizes cross-chain
finality and de-risks the protocol’s dependency on one consensus layer.

D. Hedge pool

The hedge pool mirrors the omnichain global debt pool, ensuring delta
neutrality, and swaps its deposits for hedge pool tokens. The protocol
backs all hedge pool tokens with syASSETS in proportion to the omnichain
global debt pool composition and rebalances them once every 2 days. The ≻ 𝑏 = 𝐴𝑟𝑏𝑖𝑡𝑟𝑢𝑚, 𝐴𝑣𝑎𝑙𝑎𝑛𝑐ℎ𝑒, 𝐵𝑁𝐵 𝐶ℎ𝑎𝑖𝑛, ⋯
hedge pool also enables you to protect yourself against black-swan
liquidations and price volatility risks. 4. Debt percentage

E. Light chain-main chain architecture Your debt percentage represents your ownership of the omnichain global
debt pool.
A network of light chains houses all collateral and syASSET contracts; this
enables you to add collateral and mint omnichain syASSETS on any chain. 𝑆𝑌𝑁𝑇𝐻𝑅 𝑑𝑒𝑏𝑡 𝑠ℎ𝑎𝑟𝑒𝑠 ÷ T 𝑆𝑌𝑁𝑇𝐻𝑅 𝑑𝑒𝑏𝑡 𝑠ℎ𝑎𝑟𝑒𝑠-
The main chain, on the other hand, houses the core contracts, execution
logics, and omnichain global debt pool. The main chain also aggregates
cross-chain state changes, enabling gas-optimized and trustless cross-chain ≻ 𝑎 = 𝑈𝑠𝑒𝑟 1, 𝑈𝑠𝑒𝑟 2, 𝑈𝑠𝑒𝑟 3 ⋯
synchronicity. An alternate design, such as the point-to-point design,
updates chain-wise global debt pools after every transaction, making it 5. Specialized debt pools
gas-intensive. Off-chain computations can help save on gas, but that
comes at the cost of censorship. The protocol enables #BUIDLonSYNTHR protocols to utilize SYNTHR's
zero-slippage omnichain liquidity, or syUSD, as a common settlement
F. Omnichain global debt pool layer. While this enables you to spread your risk across different
protocols, it also exposes you to unwarranted risk profiles. Taking a more
modular approach, the protocol also enables the possibility of specialized
debt pools. Each debt pool has its own chain preference, incentives, and
risk profile. This enables you to localize risk and delegate your liquidity to
specific protocols based on protocol-specific markers, or 𝑠𝑦𝑈𝑆𝐷 ∙ 𝑛.

6. SYNTHR debt shares

Every time you mint omnichain syASSETS, you also receive a

corresponding amount of SYNTHR debt shares.

𝐷𝑒𝑏𝑡 𝑏𝑎𝑙𝑎𝑛𝑐𝑒 ÷ 𝑃𝑟𝑖𝑐𝑒0123#

≻ 𝑃𝑟𝑖𝑐𝑒0123# == $1

Example

Trader A mints 50,000 syUSD worth $50,000 and receives 50,000

SYNTHR debt shares, and trader B mints 10 syBTC worth $50,000 and
receives 50,000 SYNTHR debt shares. The omnichain global debt pool
The omnichain global debt pool aggregates cross-chain collateral and debt
comprises 50,000 syUSD worth $50,000, 10 syBTC worth $50,000, and
balances, enabling you to mint omnichain syASSETS. It utilizes synthswap,
100,000 SYNTHR debt shares.
the protocol's native zero-slippage DEX, in addition to the GMP and oracle
aggregators, to burn and mint omnichain syASSETS, enabling you to
perform zero-slippage cross-chain swaps. • 𝑫𝒆𝒃𝒕 𝒃𝒂𝒍𝒂𝒏𝒄𝒆 4(-5+( 6

50,000 × $1 = $50,000
T 𝐶𝑜𝑙𝑙𝑎𝑡𝑒𝑟𝑎𝑙 𝑏𝑎𝑙𝑎𝑛𝑐𝑒- ∪ T 𝐷𝑒𝑏𝑡 𝑏𝑎𝑙𝑎𝑛𝑐𝑒-
• 𝑫𝒆𝒃𝒕 𝒑𝒆𝒓𝒄𝒆𝒏𝒕𝒂𝒈𝒆 4(-5+( 6
≻ 𝑎 = 𝑈𝑠𝑒𝑟 1, 𝑈𝑠𝑒𝑟 2, 𝑈𝑠𝑒𝑟 3, ⋯
50,000 ÷ 100,000 = 50%
1. C-ratio
• 𝑺𝒀𝑵𝑻𝑯𝑹 𝒅𝒆𝒃𝒕 𝒔𝒉𝒂𝒓𝒆𝒔 4(-5+( 6
𝐶𝑜𝑙𝑙𝑎𝑡𝑒𝑟𝑎𝑙 𝑏𝑎𝑙𝑎𝑛𝑐𝑒 ÷ 𝐷𝑒𝑏𝑡 𝑏𝑎𝑙𝑎𝑛𝑐𝑒 × 100
$50,000 ÷ $1 = 50,000
2. Collateral balance
Based on our calculations, we can derive that traders A and B each own
Every time you add high-quality short-tail and yield-bearing liquid assets 50% of the omnichain global debt pool. Let’s consider a scenario in which
as collateral, you add to your collateral balance. the syBTC price doubles and the 10 syBTC is worth $100,000. The
omnichain global debt pool is now worth $150,000, and traders A and B
T 𝐴𝑑𝑑 𝑐𝑜𝑙𝑙𝑎𝑡𝑒𝑟𝑎𝑙-/ × 𝑃𝑟𝑖𝑐𝑒- each own $75,000. If trader B wants to exit the protocol, he/she can
simply burn 7.5 syBTC, equal to $75,000, and do so with a profit of 2.5
syBTC. However, if trader A wants to exit the protocol, he/she will have to
≻ 𝑎 = 𝑠𝑦𝐴𝐴𝑃𝐿, 𝑠𝑦𝐴𝑉𝐴𝑋, 𝑠𝑦𝐵𝑁𝐵, ⋯
buy and burn an additional $25,000 worth of syASSETS or risk liquidation.
This is a common global debt pool problem, and the protocol enables you
≻ 𝑏 = 𝐴𝑟𝑏𝑖𝑡𝑟𝑢𝑚, 𝐴𝑣𝑎𝑙𝑎𝑛𝑐ℎ𝑒, 𝐵𝑁𝐵 𝐶ℎ𝑎𝑖𝑛, ⋯
to utilize the hedge pool to mitigate it. Now let’s consider another scenario
in which trader A utilizes the hedge pool to swap his/her syUSD for hedge
3. Debt balance
pool tokens; the hedge pool mirrors the omnichain global debt pool. Now if
the syBTC price doubles, trader A’s hedge pool tokens also rise in value,
Every time you mint omnichain syASSETS, you add to your debt balance.
which trader A can use to settle his/her increased debt balance and exit
the protocol. Trader B, who is synthetically long on BTC, can also utilize
T 𝑀𝑖𝑛𝑡-/ × 𝑃𝑟𝑖𝑐𝑒- the hedge pool to mitigate the risk of unpredictable increases to his/her
c-ratio. Traders A and B can also deposit their hedge pool tokens into the
≻ 𝑎 = 𝑠𝑦𝐴𝐴𝑃𝐿, 𝑠𝑦𝐴𝑉𝐴𝑋, 𝑠𝑦𝐵𝑁𝐵, ⋯ stability pool to earn a delta-neutral, risk-free yield.
G. Omnichain syASSETS

CDPs are placeholder tokens that represent a collateralized debt position.

The collateralization of ETH to mint DAI is one such example.
Overcollateralization compensates for the absence of credit ratings in
DeFi and mitigates price volatility risks. Omnichain syASSETS are
essentially omnichain CDPs. The omnichain global debt pool aggregates
cross-chain collateral and debt balances, enabling you to mint omnichain
syASSETS. The protocol backs all omnichain syASSETS with high-quality
short-tail and yield-bearing liquid assets as collateral with a 150%
minimum c-ratio, ensuring high solvency. The protocol enables you to earn
real yield by providing liquidity to SYNTHR's zero-slippage omnichain
liquidity. This requires you to add high-quality short-tail and yield-bearing
liquid assets as collateral, mint omnichain syASSETS, and preserve a 150%
minimum c-ratio. Omnichain syASSETS also enable you to access
#BUIDLonSYNTHR protocols and hold your liquidity in synthetic alts, BTC,
RWAs, or stables.

H. Oracle aggregator

Oracles are the backbone of DeFi and enable the creation of

permissionless and censorship-resistant applications. They enable
contracts to access and utilize data originating outside them. For example,
Aave relies on Chainlink for BTC prices from Binance, CME Bitcoin futures,
and Coinbase; aggregation prevents manipulation. The protocol utilizes SYNTHR’s cross-chain architecture enables cross-chain DEX aggregators
oracles to track collateral and debt balances across all chains. The oracle to perform low-slippage native asset swaps.
aggregator aggregates multiple high-quality pull and push price feeds,
ensuring front-running mitigation, MEV protection, reduced latency, and • Step 1: The cross-chain DEX aggregator utilizes a low-IL pegged
swap efficiency. liquidity pool on an AMM-based DEX to swap 𝑎𝑠𝑠𝑒𝑡7 for
𝑜𝑚𝑛𝑖𝑐ℎ𝑎𝑖𝑛 𝑠𝑦𝐴𝑆𝑆𝐸𝑇7 on 𝑐ℎ𝑎𝑖𝑛7 .
I. Stability pool
• Step 2: Synthswap utilizes the omnichain global debt pool to swap
The stability pool ensures protocol solvency, performs non-cascading cross- 𝑜𝑚𝑛𝑖𝑐ℎ𝑎𝑖𝑛 𝑠𝑦𝐴𝑆𝑆𝐸𝑇7 on 𝑐ℎ𝑎𝑖𝑛7 for 𝑜𝑚𝑛𝑖𝑐ℎ𝑎𝑖𝑛 𝑠𝑦𝐴𝑆𝑆𝐸𝑇! on
chain liquidations, and preserves overall system health. The stability pool 𝑐ℎ𝑎𝑖𝑛! . The omnichain global debt pool burns 𝑜𝑚𝑛𝑖𝑐ℎ𝑎𝑖𝑛 𝑠𝑦𝐴𝑆𝑆𝐸𝑇7
also enables you to earn a risk-free yield by liquidating undercollateralized on 𝑐ℎ𝑎𝑖𝑛7 and mints 𝑜𝑚𝑛𝑖𝑐ℎ𝑎𝑖𝑛 𝑠𝑦𝐴𝑆𝑆𝐸𝑇! on 𝑐ℎ𝑎𝑖𝑛! .
users. It liquidates users with c-ratios equal to or less than 120%.
However, during recovery modes, it liquidates users up to 150% or even • Step 3: The cross-chain DEX aggregator utilizes a low-IL pegged
higher to improve the protocol’s weighted average c-ratio and overall liquidity pool on an AMM-based DEX to swap 𝑜𝑚𝑛𝑖𝑐ℎ𝑎𝑖𝑛 𝑠𝑦𝐴𝑆𝑆𝐸𝑇!
system health. for 𝑎𝑠𝑠𝑒𝑡! on 𝑐ℎ𝑎𝑖𝑛! .

Example 2. Front-running mitigation

Trader A adds $120 worth of USDC as collateral, mints $80 worth of • The oracle aggregator aggregates multiple high-quality pull and push
syETH, and receives a corresponding amount of SYNTHR debt shares. price feeds, ensuring front-running mitigation, MEV protection,
Let’s consider a scenario in which the syETH price increases by 26.25% reduced latency, and swap efficiency.
and the syETH in the omnichain global debt pool is now worth $101.
Trader A’s c-ratio drops to 119%, and he/she fails to add more collateral • The protocol backs all omnichain syASSETS with high-quality short-
or burn some of the syETH. Once flagged, the stability pool burns $100 tail and yield-bearing liquid assets as collateral with a 150% minimum
worth of syASSETS from its deposits, burns trader A’s SYNTHR debt c-ratio, ensuring high solvency.
shares, and distributes SYNTH rewards equivalent to his/her debt
balance in addition to a 20% liquidation penalty to the depositors in VI. Risk factors
proportion to their SYNTHR debt shares. Trader A loses collateral
equivalent to a liquidation penalty of up to 20% and his/her debt balance. A. Consensus layer risk

J. Synthswap The GMP aggregator aggregates multiple independent consensus layers to

validate cross-chain messages, ensuring democratic, guaranteed, and
In an order book system, slippage tends to be higher during periods of trustless finality. This creates an iron curtain between the core contracts
high volatility or if the financial product has poor liquidity and order and relayers, preventing collusion between them.
depth. Limit orders on CEXs enable you to circumvent this problem, but
traditional AMM-based DEXs still face this issue. Traditional AMM-based B. Insolvency risk
DEXs utilize the 𝑥 × 𝑦 = 𝑘 model with liquidity bands ranging from 0 to
infinity, limiting price discovery and resulting in unpredictable slippage. • The hedge pool mirrors the omnichain global debt pool, ensuring delta
The omnichain global debt pool utilizes synthswap, the protocol's native neutrality. The hedge pool also enables you to protect yourself against
zero-slippage DEX, in addition to the GMP and oracle aggregators, to burn black-swan liquidations and price volatility risks.
and mint omnichain syASSETS, enabling you to perform zero-slippage cross-
chain swaps. Synthswap, unlike traditional AMM-based DEXs, enables you • The protocol backs all omnichain syASSETS with high-quality short-
to perform high-volume swaps without liquidity requirements. tail and yield-bearing liquid assets as collateral with a 150% minimum
c-ratio, ensuring high solvency.
1. Atomic swaps
• The stability pool ensures protocol solvency, performs non-cascading
cross-chain liquidations, and preserves overall system health. The
 stability pool also enables you to earn a risk-free yield by liquidating ≻≻≻ 4 𝑦𝑒𝑎𝑟𝑠 = 𝐷𝑢𝑟𝑎𝑡𝑖𝑜𝑛<-=)>?>
undercollateralized users.
A. veSYNTH rewards
C. Oracle manipulation
• 30% of protocol revenue: syUSD rewards
The oracle aggregator aggregates multiple high-quality pull and push price
feeds, ensuring front-running mitigation, MEV protection, reduced latency, • Boosted farming rewards: SYNTH rewards
and swap efficiency.
B. Bonus rewards
D. Security risk
• Access to #BUIDLonSYNTHR presales.
The protocol conducts regular audits, provides comprehensive insurance,
and runs bug bounty programs. • Bonus airdrops from #BUIDLonSYNTHR protocols.

VII. Trustless listing of collateral and omnichain syASSETS • Protocol governance and boosted voting power.

The DAO utilizes governance proposals and voting to enable the trustless References
listing of collateral and omnichain syASSETS, allowing you to steer the
protocol growth trajectory. Any new addition requires you to create a
• Breidenbach, C. Cachin, B. Chan, A. Coventry, S. Ellis, A. Juels, F.
SYNTHR improvement proposal and vote with your veSYNTH. Approvals
Koushanfar, A. Miller, B. Magauran, D. Moroz, S. Nazarov, A.
require a majority of yes votes and 30% quorum participation.
Topliceanu, F. Tram’er, and F. Zhang, Chainlink 2.0: Next steps in
the evolution of decentralized oracle networks
VIII. veSYNTH
• H. Lambur, Uma: A decentralized financial contract platform
Time-lock SYNTH for veSYNTH.
• Pyth Data Association, Pyth Network: A first-party financial oracle
𝐶𝑟𝑒𝑎𝑡𝑒 ⟶ (𝑆𝑌𝑁𝑇𝐻 × (𝑇𝑖𝑚𝑒𝑠𝑡𝑎𝑚𝑝28.9*: 5-;+ − 𝑇𝑖𝑚𝑒𝑠𝑡𝑎𝑚𝑝) ÷ 1,460)

• S. Liu and I. Lee, Mirror Protocol

≻ 1,460 = 4 × 365

• Synthetix system documentation

≻≻ 4 × 365 = 4 𝑦𝑒𝑎𝑟𝑠