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What are your thoughts on Synthetix?

What are your thoughts on Synthetix?

Etherum Reddit

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I tried to find out how this is supposed to even work as a stable coin but i couldnt find quality information. MakerDAO / Dai tokenomics of how it maintains the peg is very well documented and explores risks etc in great length.

now Synthetix is on the scene, they promise a stablecoin and not only that but to be able to utilise it to use dollars, stocks and bonds and i also believe even trade them. this is part of their roadmap. however if it was ever used to trade stocks it might be labeled as a security.

Ripple and the interledger protocol can do the stocks / bonds integration as its a value transfer protocol, it doesnt currently but but the ILP can be used for that at some time one day, but they have been hit being labelled a security with law suites etc.

so i see Synthetix trying to do two things provide a stable coin but also act as a bridge asset between different assets.

from my research thus far, im not convinced as there is little in depth technical discussion online on how it achieves things.


I guess this is a biased question as my own post comes in with a confirmation bias.

so that being said.

what are your thoughts on Synthetix? pros / cons?

submitted by /u/Neophyte-
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