Synthetic is a protocol for issuing and trading synthetic assets based on Ethereum. Synthetic assets, synthetic tokens or synth are RC20 tokens that track the price of an external assets. It consists of smart contracts and a set of incentives, the value of the network token also acts as collateral, for the production of a synthetic asset, a lock of the proportional value of SNX is required, which allows you to instantly convert between synthetic assets without the problems with liquidity and slippage that other decentralized exchanges. The resulting token network supports a wide range of use cases, including trading, loans, payments, money transfers, e-commerce, and more.

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Synthetix

Synthetix is a protocol for the release of synthetic assets on the Ethereum blockchain. The project supports the idea of stablecoins by adding the ability to create a digital copy of any asset. The sUSD is a digital copy of the US dollar.

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No more announcements, let's talk about Rage v2.

So where are onchain perps today?

Well, @GMX_IO launched v2 enabling new assets to be listed. Yet v1 still holds the vast majority of liquidity ($500M) versus v2 ($30M). OTOH open interest on v2 is inching closer to v1.…

No more announcements, let's talk about Rage v2. So where are onchain perps today.