General
This project is still very young and novel in nature. Before you trade, provide liquidity, or use any aspect of the SynLev protocol it is important to understand how the system works. As always with any DeFi product do your own research and decide for yourself.
Like always there risks while interacting with smart contracts.
SynLev is not yet formally audited. Audits are a high priority and we will begin a formal audit once we begin a 2 Million SYN token stale starting on 21 Dec 2020.
If you have questions about how to do anything, we can help you on:
But if you think something can be improved, or you found a bug, we want to squash it. Please post it here:
Github — create a new issue in the relevant repository.
SynLev exchange: open leveraged position on Assets like ETH/USD and BTC/USD.
Each leveraged token represents leveraged exposure as well as exposure to the dynamic nature of the SynLev exchange. It is important to know that leverage is dynamic. A 3X token rarely has exactly 3X leverage, typically leverage levels range between 1.5X - 4.5X. For example a 3XBULLETH/USD position is open at 500 ETH/USD strike price at 3.5X leverage, ETH/USD experiences a 3% price drop resulting in a 10.5% drop in token value. Later ETH gains 3% however leverage has changed to 2.5X leverage, resulting in a 7.5% gain in token value. Even though ETH/USD experiences the same percentage price changes the 3XBULLETH/USD token experiences disproportionately higher losses.
It is worth noting that this effect can also occur in the opposite manner. Leading towards disproportionately higher gains than expected.
No. A distinct feature of SynLev assets are that they cannot be liquidated. This is achieved through multiple methods. First, price calculations are not continuous. Price refreshes are synchronized with Chainlink price updates. Which update on the oracle “heartbeat