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Why is SynAssets？
Olympus is a great aggregation algorithm for reaching a consensus. It has built a consensus worth billions of dollars in a short period of time, driven by interests. Because of the fair token issuance mechanism, no institutional investment, and just token acquisition, it stays true to blockchain's original aspiration. The bond mechanism is the most beautiful aspect. It's the ideal solution for protocol liquidity issues. Not only does the protocol itself have sufficient liquidity, but all protocol participants can benefit passively from the Treasure's long-term growth.
Olympus has a lot of accomplishments, but it also has a number of flaws: There is a smattering of agreement. Each DAO can only anchor one asset; if you want to anchor another asset, you'll need to create a new DAO.
The consensus algorithm should be tweaked a little more. In order to create an explosive consensus, the invitation mechanism should be added.
Meme coin's deflation mechanism is an excellent consensus aggregation algorithm, but it has yet to be implemented.
We hope to bring the optimized Olympus into the synthetic assets world to solve these problems, anchoring not only crypto assets such as DAI, BTC, ETH, but also real-world assets such as Apple and Tesla stocks, gold, futures, and indexes, etc. Synthetix and Mirror, as well as other synthetic assets, have problems such as insufficient liquidity, low capital efficiency, and liquidation risk. With the addition of SynAssets, we will enter the era of synthetic assets 2.0. More consensus can be formed, allowing the crypto currency market to be integrated with the traditional financial market.
As a result, SynAssets was created by early consensus participants.
Last modified 1yr ago