Synthr (SYNTHR)

Synthr is building an omnichain synthetic asset protocol, powered by LayerZero, that provides users access to frictionless interoperability and slippage-free multichain liquidity.

Whitepaper

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What is Synthr

Synthr is a synthetic asset protocol founded to create a seamless, transparent, easy-to-trace, and responsible ecosystem that welcomes traders from all around the world, regardless of where they are based or how much capital they can put up.

Synthr’s ecosystem consists of multiple mechanisms working in harmony to create the ultimate synth trading protocol; enabled by its multi-module platform, Synthr allows users to mint (or borrow) synthetic assets by putting up a stablecoin as collateral, use their borrowed syAsset to make a profit, and reclaim their locked stablecoin while keeping their profit.

Powered by an auto yield optimizer, the SynthVaults module will also allow opportunities in yield farming on synthetic assets to increase capital efficiency. An essential component of the Synth ecosystem, their proprietary synthetic stabilization mechanism ensures the balance of yields between long and short farms for peg protection.

Another interesting feature of the platform seems to be theirP2P liquidation queue - users bid to buy liquidated collateral at a discounted price, removing the need for technical knowledge and preventing bot-enabled front-running campaigns that have previously been rampant.