Review on sUSD by onur bln
sUSD
Synthetix is a decentralized synthetic asset issuance protocol built on Ethereum. These synthetic assets are secured with Synthetix Network Token (SNX), which allows the issuance of synthetic assets (Synths) when locked in the contract. This pooled collateral model allows users to convert between Synths directly with smart contract, eliminating the need for counterparty. This mechanism solves the liquidity and slippage problems experienced by DEXs. Synthetix currently supports synthetic fiat currencies, cryptocurrencies (long and short) and commodities. SNX holders may use Synthetix, depending on their contribution to the network. They are encouraged to stake their tokens as they pay a proportionate portion of the fees generated through their activities on Exchange. It is the right to join the network and capture fees generated from Synth exchanges from which the value of the SNX token is derived. Synthetix. Trading on Exchange does not require the trader to hold SNX.
Pros
- fast transactions and reliable
- no fee is charged
- The absence of an order book
Cons
- unauthorized chain
