Synthetix is happy to launch three markets to hitch its rising checklist of supported belongings out there for leverage buying and selling by Synthetix Perp Futures on Kwenta.
New Markets – BNB, DOGE, DEBT RATIO
BNB and DOGE Perpetual markets will be part of the rising checklist of supported cryptocurrencies out there for leverage buying and selling by Synthetix Perpetual Futures.
The DEBT-RATIO market is a completely totally different market, one which tracks a simulated SNX stakers debt place, growing and lowering on the identical fee a stakers debt would change relative to their preliminary debt. That is achieved utilizing the prevailing Chainlink oracle which tracks the SNX debt ratio, utilizing this ratio because the sUSD worth of a perps market asset.
The good thing about this asset being a futures market is that this can be very capital environment friendly, stakers can entry as much as 10x leverage for this market after which would be capable to deploy their debt elsewhere.
What is that this market used for? – Debt Ratio
Though it’s doable to commerce this market like some other, the market is primarily a device for SNX stakers to hedge their debt. Because the debt pool fluctuates over time, stakers owe kind of relying on this motion. If you happen to’re an SNX staker and wish extra info on the debt pool and hedging, please start right here or be part of the Synthetix discord for help.
Since this device matches an SNX stakers debt place’s fluctuations, a staker opening an equal notional measurement $DEBT-RATIO place to their SNX debt place will incur no internet revenue or losses from delta. This ensures that stakers all the time have entry to the mandatory sUSD to handle, or shut their debt place with Synthetix.
Need to study extra in regards to the Debt Ratio market?
Kwenta has ready an amazing information on the Debt Ratio market, together with use circumstances, dangers, and different vital info. We have used a few of their materials as a short portion of this weblog put up, however please study extra on Kwenta’s weblog as they’ve drawn out a complete overview of the debt ratio market.
Are you curious about buying and selling Synthetix Futures? Go to any Synthetix-powered buying and selling frontend akin to Kwenta.
