SNX update: Alsephina Release, $6 resistance & 14% interestDespite the Chaikin Money Flow (CMF green line below) demonstrating the monetary volume has been weak, SNX has been attempting to break-out upward through the $6 level. Meanwhile, I continue to earn almost 7.5 tokens every week without the risk or worry of staking at 14.05% on the Celsius Network. I have a Celsius referral code that will earn you and I both $50 in BTC if you want it (just ask me). Now, back to the latest Synthetix Network update. The following is taken from the Synthetix blog (blog dot synthetix dot io) and is only a portion of what was written:
“2 February 2022- Alsephina Release…what’s included in this release:
SIP-184: Dynamic Exchange Fees: Add a dynamic fee in addition to base exchange fees that responds to and neutralizes oracle ‘frontrunning’ opportunities. With such a mechanism in place, base exchange fees can be safely lowered significantly and the overall cost of trade execution on Synthetix can be drastically reduced.
SIP-193: Refactor SystemSettings into Library to reduce contract size: Refactor and deploy a new library for SystemSettings to reduce contract size.
SIP-196: Remove Centralized Oracle: Removes all centralized oracle code from Synthetix contracts and testing. SIP-196 removes all centralized oracle code from Synthetix contracts, which no longer rely on centralized oracles and instead utilize fully decentralized and trustless feeds from Chainlink.”
So, from what I can understand, it is now safer, cheaper to trade and more reliable (decentralized/trustless) via Chainlink. There was no downtime on L1 or L2 during implementation.
As for me, I continue to HODL and amass at 14.05% APY. Monday will be another interest payment for me just as every Monday has been since my first reward on 6 August 2021. Celsius is regulated and licensed by SEC & the US Treasury.--Garry
