Saturday, May 21, 2022

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


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.