Protocol
Introduction
SYNTHR's advanced cross-chain infrastructure powers a novel zero-slippage omnichain transaction environment, enabling you to create omnichain applications and transfer value between chains with exceptional capital efficiency and extreme security.
Chains
Arbitrum
Avalanche
BNB Chain
Ethereum
Polygon
Omnichain global debt pool
The omnichain global debt pool aggregates cross-chain collateral and debt balances, enabling you to add high-quality liquid collateral on multiple chains and mint omnichain syASSETS with a high c-ratio, or collateralization ratio. Omnichain syASSETS are essentially overcollateralized debt positions, which form the framework of the zero-slippage omnichain liquidity layer.
Architecture
The architecture consists of multiple light chains and a main chain. The main chain exclusively hosts the aggregator contracts, enabling gas-optimized cross-chain synchronicity. This eliminates the need for any off-chain computations to save gas fees and ensures a censorship-resistant framework.
Delta-neutral vault
The delta-neutral vault utilizes the hedge pool and the liquidation engine to generate delta-neutral yield. The hedge pool mirrors the latest composition of the omnichain global debt pool, ensuring delta neutrality, while the liquidation engine liquidates undercollateralized users to generate real yield and preserve protocol solvency. This protects you from any sharp debt balance increases.
syCHAIN
syCHAIN is a high-performance EVM-compatible L1 that is based on a novel proof-of-debt consensus framework. You delegate your SYNTHR debt shares to secure syCHAIN, which validates all aggregator state changes and cross-chain messages, bolstering the protocol's trustless framework.
SYNTHR debt shares
Every time you mint omnichain syASSETS, you generate personal and protocol debt. The omnichain global debt pool, which represents overall protocol debt, works on the model of debt load sharing. This means that all users are collectively responsible for the protocol's solvency. Your SYNTHR debt shares correspond to your ownership of the omnichain global debt pool.
Omnichain syASSETS
The zero-slippage omnichain liquidity layer utilizes a combination of pull and push oracles to burn and mint omnichain syASSETS, enabling zero-slippage cross-chain swaps. This generates protocol revenue in the form of swap fees, which the protocol distributes to its stakeholders. The omnichain global debt pool acts as the counterparty for all zero-slippage cross-chain swaps, while the combination of pull and push oracles ensures price feed accuracy and reliability.
Dynamic peg protection engine
The dynamic peg protection engine utilizes the long and short-farm vaults to preserve parity between the DEX and oracle prices. The long-farm vault buys omnichain syASSETS and farms LP tokens when the DEX prices are lower, while the short-farm vault mints and sells omnichain syASSETS for price arbitrage profits when the DEX prices are higher.
GMP aggregator
The GMP aggregator utilizes multiple independent consensus layers to validate cross-chain messages, ensuring democratic and trustless cross-chain finality. This creates an operational barrier between the core contracts and relayers, preventing collusion between the two.
Market opportunity
24-hour bridge volume: $500,000,000
24-hour swap volume: $13,000,000,000
Protocol revenue distribution
Protocol operations: 10%
SYNTHR debt shares: 60%
veSYNTH: 30%
Real yield
Farming rewards: SYNTH
Liquidation rewards: SYNTH
Minting rewards: syUSD
veSYNTH rewards: SYNTH and syUSD
SYNTH utility
Collateral
Farming rewards
Flagger fees
Gas fees
Liquidation rewards
Liquidator fees
veSYNTH rewards
veSYNTH
veSYNTH
Time-lock SYNTH for veSYNTH.
veSYNTH benefits
Early access to ecosystem private sales.
Exclusive airdrops from ecosystem protocols.
Protocol governance and boosted voting power.
veSYNTH rewards
Protocol revenue distribution: syUSD
Tokenomics rewards distribution: SYNTH
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