It further suggests deploying Andromeda to Optimism and Arbitrum, and deploying Carina (ETH-only backed Perps) to Ethereum. The new module will reportedly make it easier for the network to make governance decisions with. Governance. What we can say is that there is no opaque centralised body the Synthetix network relies on to “guard” the Synthetix protocol. I keep hearing that Synthetix governance model is working well - separating decision making and funding decisions by functional area. The rules and parameters associated with the Synthetix protocol and Synthetix DAO governance are subject to change at any time. Stats. Name of protocol representative (s) that will serve as delegate (s): Rev Miller, CJ Hetherington. The Synthetix discord is the place to engage in protocol governance and robust community discussion about the direction of the project. Governance. It'll help to usher in a period of mass innovation throughout the world of onchain derivatives and financial instruments. Perps. Election contracts that count votes based on Synthetix weighted debt will give SNX stakers a piece of governing power without their opt-in (the aforementioned vampire attack). great. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. Synthetix V3 features a generalized collateral vault system that is agnostic to collateral types. [1] Synthetic. Please list any anticipated conflicts of interest: NoneThe Protocol Delegation Program was approved in Special Voting Cycle #9b. Synthetix will use Chainlink decentralized oracles to power all price feeds on the Synthetix exchange. Perps V3. use this example (coming) this step goes away once permissionless Markets are enabled by Spartan Council governance. What is the Grants Council? The Grants Council is responsible for public goods funding through grants, initiative bounties, or competition prizes. Coin Prices. Further, my experience over the last year and a half participating as a member of the Synthetix and Lyra grants councils has provided experience in governance and vetting public goods funding. Synthetic assets, and associated products, are collateralized by stakers via Synthetix Network Token (SNX), which when locked in a staking contract enables the issuance of synthetic. Synthetix, the DeFi protocol for trading asset-pegged synthetic tokens on. Synthetix operates under the governance of four key bodies: Spartan Council, Treasury Council, Ambassador Council, and Grants Council. Revenue Share. Blog. These markets were approved by governance in SIP 2031 and had initial configurable values set by SCCP-2044. So the tokenomic leverage of this mechanism in the protocol is between 3 and 5, depending on the current collateral requirement. This post addresses the issues and how we can resolve them. Name: Mirror Address or ENS: protocol. V3 Spot Market - The first expected market on V3 is spot markets. 9 million was raised when Synthetix sold SNX tokens to Framework Ventures. 87M, market cap of $ 395. Synthetix is a platform that widens the horizon of existing trading capabilities. Link to Synthetix Discord Dune AnalyticsFinally, governance can be used to create incentives to mint and sell mAssets, helping to fix broken price pegs. Synthetix is a protocol for the issuance of synthetic assets that tracks and provides. SNX Price--epoch. Blog. Treasury Council. The Liquidity Layer of DeFi. Powering the next. Current Protocol Parameters. Interested in learning more about Synthetix and its plans for the future? Make sure to RSVP to the call to hear from SNX core contributors, council members, and. To counterbalance Synthetix’s blatant increase in power, the Collective decided to introduce a ‘Protocol Delegation Program’ in Season 3, which enabled protocols to have a say in Optimism’s Token House governance. synthetix. Understanding the Governance process Since the Synthetix Foundation transitioned control to the community in July 2020 , changes to the protocol have been proposed and voted on by community members along with the. Governance. This epoch will run for three months as per SCCP-78, and there are now 22 community. But even when inflation was. Blog. Governance. Synthetix V3 is currently in alpha. Stats. Powering the next. My view on the Optimistic Vision 150: I think funding public goods is a worthy goal but one that, in practice, needs to improve in efficiency and quality. Với tham vọng mở rộng ra ngoài biên giới của thị trường tiền điện tử truyền thống, Synthetix đối mặt với hai đối thủ chính trong lĩnh vực tài sản tổng. Perps. Synthetix. Docs. Additionally, data feeds from Pyth and Chainlink are necessary for any proposed assets to be considered for inclusion. Grants Council. Synthetix governance has approved SCCP 2008, a plan to sunset Perps V1 markets. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. “Governance just gets thrown out the window during a. Further, my experience over the last year and a half participating as a member of the Synthetix and Lyra grants councils has provided experience in governance and vetting public goods funding. Stats. It is expected that the ambassadorsDAO will follow suit in the near future. Quarterly Report for Synthetix, Quarter 2 of 2023: April — June. In 2019, an additional $3. Base Andromeda. Governance. Do you agree to abide by the delegate code of conduct: (Yes / No) Yes. In Governance Update #2 , foundation gave a clear instruction that self-dealing is not expected. Besides governance, Synthetix also has to contend with increasing regulatory scrutiny of a core part of its offering—tokenized stocks. Learn more. The Liquidity Layer of DeFi. Base Andromeda. Perps V3. These markets generally rely on decentralized oracle networks (such as Chainlink and Pyth) to retrieve the price of off-chain assets and issue on-chain derivatives of these assets. Prototype V3 keeper using the Synthetix Python SDK. Here is what the supply of active SNX rewards to SNX stakers looks like currently: SNX supply curve: Messari. All supported markets benefit from deep liquidity and low fees, thanks to the use of fully decentralized off-chain oracles and Synthetix liquidity. . The new Synthetix Ambassadors governance portal is now live, brought to you by the Synthetix grantsDAO! The Synthetix Ambassadors program provides a simple way for SNX holders to delegate their governance voting rights in other protocols (e. Quick Start. The Synthetix community is considering putting an end to its inflationary economics in ten weeks’ time. What is Synthetix? Synthetix is a derivatives liquidity protocol on Ethereum. Sandbox with Perps. Engineers are now working on reflecting this in the backend/frontend for the Synthetix Governance Module. Perps. Powering the next. Perps. Synthetix Governance Find links to each core component of the Synthetix Governance System. Staking App. With Thales participating in the Protocol Delegation initiative, we wish to do our part in helping the Optimism Vision with our growth and governance experience inherited from as far back as the early days of Synthetix, the pioneer of delegate governance structure. 5 million USDC on decentralized exchange, Kyber, exerting downward pressure on the price of SNX. Synthetix reached its highest price on Feb 14, 2021 when it was trading at its all-time high of $ 28. Synthetix is a derivatives liquidity protocol built on Ethereum, facilitating the creation and trading of synthetic decentralized assets. The Synthetix governance framework also saw continued evolution last month. The V3 Watcher Stats page is also officially complete, so check that out for all of your stats needs!Synthetix price today is $ 3. As early adopters of delegate governance structure and early participants in Synthetix governance structure, we find us to be a good fit for this initiative. In Synthetix, users can deposit any ERC-20 token approved by the Synthetix governance into a vault. Powering the next. Synthetix Governance: A representative council system that governs Synthetix. Governance. Synthetix Governance Find links to each core component of. egk10 January 20, 2021, 2:32pm 8. Binance. Stats. What makes Synthetix unique is the robust nature of its governance system. Governance. My view on the Optimistic Vision 150: I think funding public goods is a worthy goal but one that, in practice, needs to improve in efficiency and quality. The presentation of SIP-179 is also discussed, as well as upcoming election coverage from SNXweave. Blog. One of the world’s leading Web3 accelerators with the strongest network in Asia, LongHashX partners with ecosystems like Filecoin, Polkadot, Axelar, and Algorand to empower founders to build top-class Web3 native projects. Decisions and proposals put forth by these councils are. This program will temporarily delegate a portion of idle OP from the Governance Fund to a group of value-aligned protocols. Staking App. Powering the next. We’ve made progress, but there is still much to do. Stats. Staking App. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. 15 protocols qualify to participate based on total gas fees generated on Optimism in Season 2. The next Synthetix community governance call is scheduled for Tuesday Sep 27th at 8pm UTC (9/27 afternoon/evening for western hemisphere; 9/28 morning for eastern hemisphere), and we’d love for you to join us!The following post contains a recap of news, projects, and important updates from the Spartan Council and Core Contributors, as well as the Grants Council and Ambassador Council from last week…The Protocol Delegation Program was approved in Special Voting Cycle #9b. Synthetix is a derivatives liquidity. These include the Spartan Council, Protocol DAO, Synthetix DAO, Ambassadors DAO, and Grants DAO. but there's a sadness there, right?" Hear more from Kain Warwick about the future of #synthetix governa. While Synthetix's governance initially fell under a non-profit foundation, this structure dissolved in 2020. Stats. Docs. The following post contains a recap of news, projects, and important updates from the Spartan Council and core contributors this week, as well as some performance highlights of those involved in governance. . Staking App. Passed: Yes. Elections and Voting. SYNTHETIX GOVERNANCE. Label all the bodies in which the internal stakeholders nominate as a Committee. The platform was founded in 2017 by Kain Warwick and has experienced notable growth, establishing itself as one of the prominent platforms within the decentralized finance (DeFi) ecosystem. g. Staking App. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. It is expected that the ambassadorsDAO will follow suit in the near future. blog. Synthetix Governance. Docs. This is the mechanism that prevents deficits during extreme market crash events, as the governance is there to ensure that the synths are sufficiently collateralized and will not result in a system deficit in. Perps. Synthetix Governance: A representative council system that governs Synthetix. Staking App. Uniswap is a decentralized exchange protocol that enables users to trade ERC-20 tokens directly from their wallets. The SNX price decreased-3. to a Spartan Council member on discord by searching members with the "Spartan Council" role or finding them within the #governance channel. An independent Work Group is suitable for the level of decentralization that Synthetix is at and would remove the information asymmetry that integrators face when. I’ve included a very basic AIP Draft with some generic outlines and instructions for the ApeCoin Foundation Administrators to create a. The ElectionModule is a part of the V3GM release; it is the first release of the governance modules. FOR PERP INTEGRATORS. Abstract. Wide Variety of Assets Synthetix Perps supports a wide array of synthetic assets, which is determined and updated by the decentralized governance process. The Liquidity Layer of DeFi. More questions have been raised over timelocks and the tradeoff that comes with them and fully permissionless systems, with Kain Warwick, founder of Synthetix (SNX) and Aelin Protocol, arguing that “one of the planned features for the new synthetix governance module is the ability for token holders to override these time locks with. Base Andromeda. Developer FAQ. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. Sandbox with Perps. Elections. The Synthetix governance process uses Synthetix Improvement Proposals (SIPs) and Synthetix Configuration Change Proposals (SCCPs) to outline proposed changes to the Protocol. Kwenta is a trading interface for perpetuals and options that integrates with Synthetix and Lyra Protocol. For instance, the core protocol design, setting of the reward mechanisms, and the system development were managed by the Synthetix Foundation, excluding them from governance voting. Protocol name: Atlantis World. Synthetix is a decentralized liquidity provisioning protocol built on Ethereum and Optimistic Ethereum (a layer two scaling solution built on Ethereum). **Aelin Overview **Aelin is a deal coordination protocol, it differs from an on-chain fund like the LAO because each deal is discrete. However, since then, the TVL has risen to $800 million at the time of writing, and the price of. Contribute to Synthetixio/SIPs development by creating an account on GitHub. Please register to be a delegate at Participating in Token House governance will require a serious time commitment. Perps. io by adding links to it from different landing pages (such as governance, staking, tools, etc). As Synthetix is developing into a transparent and inter-operable on chain liquidity layer, its governance must also ossify to be aligned with the resiliency of the protocol. 58M, and market dominance of 0. The protocol and ecosystem is more broadly maintained and improved by a combination of core contributors, ecosystem partners, and community members. Treasury Council (4 members) - The Treasury Council (TC) manages the synthetix treasury and provides funding to the other governance bodies, cc stipend payments, and other discretionary incentives. 9. Live Events Oct 4, 2022. Synthetix Carina will also be running on Ethereum, a latency-optimized version of perps using ETH (and LSDs) as collateral. Synthetix is a decentralized liquidity provisioning protocol built on Ethereum and Optimistic Ethereum (a layer two scaling solution built on Ethereum). Technical Architecture. Stats. SIP-306: V3 Migration SIP-323: Adopt "s" prefix for Synthetix V3 asset tickers. Governance. Spot markets powered by Synthetix V3 allow anyone to exchange the V3 protocol’s stablecoin with a synthetic asset (or “synth”). Synthetix reached its highest price on Feb 14, 2021 when it was trading at its all-time high of $ 28. The Synthetix Ambassadors Council have announced plans to self-delegate 2M OP tokens from their Optimism Governance Fund grant. Name: Decentralized Mind aka cryptologist98. The founder of decentralized finance (DeFi) protocol Synthetix, Kain Warwick, has submitted a proposal that would turn off very high yield returns for SNX stakers and cap the total SNX token supply at 300 million. The new version will have a modular mechanism supporting multi-collateral staking, customizable debt positions, and permissionless synths. Protocol Governance. 5 million Synthetix governance tokens (SNX) using popular DeFi money market protocol Aave, and pooled liquidity token exchange, Bancor. Synthetix Governance. Back in June, the DeFi protocol received 9M OP tokens during Phase 0 of Optimism’s Governance Fund. The Election Module is proposed to replace the existing Snapshot election process carried out by the Synthetix DAOs whilst also providing a standard module which other protocols can use for their governance. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. SNX’s initial supply of 100,000,000 tokens was released in 2018. Governance Framework The Synthetix Protocol has several governing bodies and artifacts which co-exist to enable the decentralized nature of the protocol. With aligned interest in the success of the Optimism network itself, the symbiosis is strong and our experience can be put to good use in stewarding towards the optimal governance structure and the growth of the network. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. 7 Likes. 5% went to partners. The Synthetix protocol is governed by a decentralized set of representative councils that are voted on by stakers. The following post contains a recap of news, projects, and important updates from the Spartan Council and core contributors this week, as well as some performance highlights of those involved in governance. For example, if you minted $1000 sUSD and the total sUSD value of all Synths in circulation is currently $1 million, your debt ratio owed to the network is 0. Staking App. Synthetix Improvement Proposals (SIPs) describe standards for the Synthetix platform, including core protocol specifications, client APIs, and contract standards. Stats. part of the greater Distributed Decentralised Autonomous Organisations responsible for the well being, growth and adoption of the Synthetix protocol. Technical Architecture. Blog. As Synthetix is developing into a transparent and inter-operable on chain liquidity layer, its governance must also ossify to be aligned with the resiliency of the protocol. The protocol and ecosystem is more broadly maintained and improved by a combination of core contributors, ecosystem partners, and community members. Decisions and proposals. Spartan Council. Please list any anticipated conflicts of interest: NoneSynthetix CurveDAO Governance Vault- XveCRV: MilliΞ, Farmwell. Introduction. 014361% and 0. Elections. 25, Kain Warwick, the founder of Synthetix, published a proposal advocating for capping the SNX supply at 300M tokens in two and a half months. The new Synthetix Ambassadors governance portal is now live, brought to you by the Synthetix grantsDAO! The Synthetix Ambassadors program provides a simple way for SNX holders to delegate their governance voting rights in other protocols (e. The Synthetix protocol is governed by a decentralized set of representative councils that are voted on by stakers. SYNTHETIX GOVERNANCE. The Synthetix protocol is governed by a decentralized set of representative councils that are voted on by stakers. While we progress these releases, the community must debate and discuss the remaining items on the roadmap, as well as any unplanned priorities, in order to crystallise later releases. Synthetix v3 is setting the stage for anyone to simply add Synthetix to a blockchain, integrate oracles, and instantly create a thriving DeFi ecosystem. 3% went to bounties and marketing incentives. The Synthetix protocol is governed by a decentralized set of representative councils that are voted on by stakers. Synthetix Governance and Tokenomics Holders of the SNX token are able to vote on and make proposals on the current and future parameters of Synthetix. Contribute to Synthetixio/SIPs development by creating an account on GitHub. The next Synthetix community governance call is scheduled for Aug 29th at 8PM UTC (08/29 afternoon/evening for western hemisphere; 08/30 morning for eastern hemisphere). The SNX price decreased-3. Synthetix stakers do not have to participate in governance farming, although ecosystem rooms may be deployed to boost voting power. Quick Start. 👉Q3 Highlights ⭐ Spartan Council/CCs: Base Deployment & Testnet Trading Competition ⭐ Grants Council: NFT Project & Watcher Page ⭐ Ambassador Council: Spartan Spaces & Governance Proposals As we wrap up the third quarter of 2023, it’s time to review the major events of SYNTHETIX GOVERNANCE. Stats. 71% in the last 24 hours. The trading of stocks, currencies, commodities, and other assets are still dominated by the likes of Wall Street, London. My view on the Optimistic Vision 150: I think funding public goods is a worthy goal but one that, in practice, needs to improve in efficiency and quality. However, in support of decentralization, the administration of the protocol was shifted and split between four governing councils, Spartan, Grants, Ambassador, and Treasury. SNXweave Weekly Recap September 24, 2021 - Blog - Podcast Synthetix Community Governance Call Come join us at 9pm UTC… synthetixweekly. SIP-141 formalizes the responsibilities and role of the grantsDAO, and also lays out plans to expand the scope of initiatives supported by the grantsDAO. You can participate in the governance process by staking SNX tokens in accordance with the rules and parameters summarized here, and/or joining the Synthetix Discord and contributing to the conversation. lens Link to delegate commitment: Delegate Commitments - #164 by Benjamin. Please list any anticipated conflicts of interest: NoneSynthetix Governance Elections - August 2023 Nominations for the Synthetix Councils' next epoch will open on Thursday, August 17th. Created: December 24th, 2022. Elections. Docs. Protocol name: Lyra Name of protocol representative(s) that will serve as delegate(s): Ksett Link to [delegate commitment 11]: (if your protocol doesn’t currently have one, you will need to create one) Delegate Commitments - #174 by ksett Is your protocol OP Native?: Yes Was your protocol active in Optimism governance prior to 12/5/22?: Yes,. Governance. Perps. Stats. But the fact that it. The Liquidity Layer of DeFi. Protocol Governance. Powering the next. Hello fellow Apes, I’ve started this topic with advice from @Marklar to help get the conversation going around what people would like to see in the upcoming Board Nominations and Elections process. 0). We would like to ensure that there is advanced notice of this delegation because of anticipated community feedback. I don’t have any direct experience but it looks intriguing. Governance. Grants Council. Staking App. 0. The following post contains a recap of news, projects, and important updates from the Spartan Council and Core Contributors, as well as the Grants Council and Ambassador Council from last week…Crypto News Cast For May 21st 2022 ? Crypto News Cast 📮 21-05-2022 News Source Welcome to The Crypto News Cast: A Complete Cryptocurrency News letter. Spot markets powered by Synthetix V3 allow anyone to exchange the V3 protocol’s stablecoin with a synthetic asset (or “synth”). Lastly, Synthetix and Synthetix Ambassadors do not have a history of selling any Optimism tokens, nor using them for unintended uses, or anything along those lines. Synthetix staking is vastly different from other DeFi protocols; it allo…Blockchain technology is already radically transforming the financial system. As per SIP-155 the Treasury Council has been established to undertake many of the responsibilities of the now dissolved synthetixDAO. 77%. 4K subscribers in the synthetix_io community. sUSD Balance 0. See below: This delegation was something Synthetix Ambassadors had initially pushed for under its internal proposal and was approved by the Spartan Council at Synthetix. Sandbox with Perps. The presentation of SIP-179 is also discussed, as well as upcoming election coverage from SNXweave. However, properties such as trustlessness and immutability aren’t only useful in monetary applications. 42 since April 01, 2022, and the current price stands at $2. Staking Guide. Docs. Docs. Then, an address that owns (or has relevant permissions on) that account can call the claimRewards function. Perps. The liquidateAsAccountId parameter specifies an account which should receive the collateral. Councils are directly elected by SNX stakers, while other governance bodies are appointed according to the existing governance procedures. Synthetix (SNX) is a decentralized liquidity provisioning protocol built on Ethereum and Optimism, serving as a backend liquidity layer for some of the most innovative protocols in the DeFi ecosystem. It is worth discussing governance for a second, I’m planning a much more comprehensive post on what passes for “governance” across much of crypto these days, but that post is still in draft. GitHub. Protocol Governance. Read Synthetix (SNX) Price Prediction 2023-2024. Propose to Synthetix governance for your Market to be enabled. FOR PERP INTEGRATORS. The benefits of direct integrations for Synthetix are three-fold. Synthetix Improvement Proposals (SIPs) describe standards for the Synthetix platform. SYNTHETIX GOVERNANCE. JoinThe Synthetix Ambassadors program provides a simple way for SNX holders to delegate their governance voting rights in other protocols (e. What makes Synthetix unique is the robust nature of its governance system. Governance. Docs. Protocol name: QiDao Protocol Name of protocol representative(s) that will serve as delegate(s): Benjamin. Synths comply with the ERC-20 standard, which means they are compatible with an enormous number of. Staking App. As early adopters of delegate governance structure and early participants in Synthetix governance structure, we find us to be a good fit for this initiative. 00%. The rules and parameters associated with the Synthetix protocol and Synthetix DAO governance are subject to change at any time. Sandbox with Perps. Synthetic assets, and associated products, are collateralized by stakers via Synthetix Network Token (SNX), which when locked in a staking contract enables the issuance of synthetic assets. My previous post was a long-form exploration of the future of Synthetix. This section of the SIP proposes to: Label the collective governing collectively bodies as the Synthetix DAO. All markets must be approved by Synthetix Governance through a SIP and a subsequent SCCP to configure variables. The Synthetix governance elections are currently underway; The Aave community voted to add ENS as collateral, and to appoint Securitize as a whitelister to Aave Arc;The author then alerts the Spartan Council within the #governance channel on Discord to schedule a ‘SIP author interview’, which is conducted and recorded by the Spartan Council. MattL October 17, 2022, 7:38pm #1. My view on the Optimistic Vision 150: I think funding public goods is a worthy goal but one that, in practice, needs to improve in efficiency and quality. Connect wallet. For this reason, we will strongly encourage people claiming OP in Airdrop #1. This program will temporarily delegate a portion of idle OP from the Governance Fund to a group of value-aligned protocols. 002908%, respectively (note: funding rates fluctuate, this isn't current). If you haven't already, join the Kwenta community on Discord. Propose to Synthetix governance for your Market to be enabled. The top 20 protocols by total gas fees generated received a delegation of idle tokens from OP as a part of this program. Synthetix staking is vastly different from other DeFi protocols; it allows anyone to earn rewards by contributing collateral (SNX) to the Synthetix protocol. Lastly, Synthetix and Synthetix Ambassadors do not have a history of selling any Optimism tokens, nor using them for unintended uses, or anything along those lines. The Synthetix Protocol is governed by four bodies, each responsible for a core aspect of a DAO. Perps V3 Keeper. As early adopters of delegate governance structure and early participants in Synthetix governance structure, we find us to be a good fit for this initiative. The Synthetix Protocol has several governing bodies and artifacts which co-exist to enable the decentralized nature of the protocol. Perps. This proposal aims to simplify the meta-governance processes of the Synthetix Governance System and addresses current meta-governance edge-cases and frictions. Protocol Governance. Protocol Governance. Current Voting Results. “The changes above mark a phase shift in Synthetix governance,” the post said. SNX, its native token, is currently trading at a 94. These markets were approved by governance in SIP 2031 and had initial configurable values set by SCCP-2044. Staking App. All. Staking App. Kain said that the control of Infinex would be relegated to a mode of decentralized governance. Stats. Perps. It is important to note that there is a blog post detailing. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. The current rewards have no expiry date but can be adjusted by a vote from Synthetix governance. These were swapped for 6. Technical Architecture. Elections. Synthetix started out as a stablecoin, before pivoting to DeFi. Per SCCP-304, the spot market system has deployed a synthetic ETH token by creating a market for it. Staking App. Further, my experience over the last year and a half participating as a member of the Synthetix and Lyra grants councils has provided experience in governance and vetting public goods funding. Powering the next. Yield Farming tokens to keep an eye on at the end of June Uniswap UNI/USD, Aave AAVE/USD, and Synthetix Network SNX/USD are some of the best yield farming. Quarterly Report for Synthetix, Quarter 2 of 2022: April — June. As early adopters of delegate governance structure and early participants in Synthetix governance structure, we find us to be a good fit for this initiative. Some examples of assets that the platform supports are synthetic fiat currencies (sUSD, sAUD, sKRW, etc.