SNX update: Money flow, Solana now; MATIC, AVAX, AAVE, UNI soon
Disclaimer: These are my observations and personal views on SNX. Full disclosure requires I tell you I am long SNX and see a high profit potential in this "derivatives" trading platform. Synthetix refers to these derivatives as "Synths." To actually trade, you need to go to Kwenta (kwenta dot io [I am not allowed to create a link with a real "dot"... do it yourself]). Now for the updates.
As witnessed by the CMF (Chaikin Money Flow / green line below), the flow did not dip as far this last volatility cycle as the preceding dip. To me, this indicates a likely fast rebound once the markets calm.
In other news, on 15 February 2022, Synthetix explained "Dynamic Exchange Fees" in their blog (blog dot synthetix dot io) and how it eliminates "frontrunning" during volatility and will keep overall fees low when trading on Kwenta.
Additionally, on 15 February 2022, Synthetix released two updates. Well, one is actually an OCR protocol upgrade (SCCP-163) via Chainlink. The other is SIP-199 (they say 199 at the beginning of that blog article and 209 further in the reading) and is more exciting in my mind.
SIP-199 added Solana (SOL) synth on Optimism with shorting functionality. And if that isn't exciting enough, Synthetix (dot io) retweeted the following: "New #Synthetix intelligence from lead developer of @synthetix_io, @MattLosquadro: 5 new synths coming to @kwenta_io: #MATIC, #AVAX, #AAVE, #UNI and #EUR
So cool! The progress continues even as volatility makes for great SNX price entry... and I continue to earn my SNX tokens at 14 percent APY every Monday on Celsius Network. --Garry
For more info or ideas comment or read my other ideas.
As witnessed by the CMF (Chaikin Money Flow / green line below), the flow did not dip as far this last volatility cycle as the preceding dip. To me, this indicates a likely fast rebound once the markets calm.
In other news, on 15 February 2022, Synthetix explained "Dynamic Exchange Fees" in their blog (blog dot synthetix dot io) and how it eliminates "frontrunning" during volatility and will keep overall fees low when trading on Kwenta.
Additionally, on 15 February 2022, Synthetix released two updates. Well, one is actually an OCR protocol upgrade (SCCP-163) via Chainlink. The other is SIP-199 (they say 199 at the beginning of that blog article and 209 further in the reading) and is more exciting in my mind.
SIP-199 added Solana (SOL) synth on Optimism with shorting functionality. And if that isn't exciting enough, Synthetix (dot io) retweeted the following: "New #Synthetix intelligence from lead developer of @synthetix_io, @MattLosquadro: 5 new synths coming to @kwenta_io: #MATIC, #AVAX, #AAVE, #UNI and #EUR
So cool! The progress continues even as volatility makes for great SNX price entry... and I continue to earn my SNX tokens at 14 percent APY every Monday on Celsius Network. --Garry
For more info or ideas comment or read my other ideas.
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