Saturday, May 21, 2022

Synthetix commence debt pool merger to enhance liquidity and staking capabilities By Cointelegraph

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Decentralized finance, or DeFi, protocol Synthetix (SNX) has announced that the deployment of their Debt Pool (NASDAQ:) 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.

Currently, Synthetix operates debt pools across two chains, mainnet and layer 2 Ethereum scaling solution Optimism, which have amassed an accumulative total-value-locked of $930 million and $157 million, respectively.