Express
Synthetix Goes Live With Host Of Upgrades Including Ether Collateral Trial For Borrowing sUSD
Summary: Synthetix went live with an array of new upgrades to the platform on Thursday, September 24, according to a recent announcement. Among the updates included in the Fomalhaut release is a trial of Ether as staked collateral to borrow sUSD rather than sETH. The upgrade will allow ETH holders to access Synths without letter go of their ...
Synthetix went live with an array of new upgrades to the platform on Thursday, September 24, according to a recent announcement.
Among the updates included in the Fomalhaut release is a trial of Ether as staked collateral to borrow sUSD rather than sETH. The upgrade will allow ETH holders to access Synths without letter go of their Ether, which developers hope will increase trading volume. Additionally, borrowing sUSD over sETH means that borrowers are no longer shorting ETH.
ETH stakers do not receive trading fees or inflationary SNX rewards. Any interest rate paid by ETH stakers goes to SNX stakers. The trial is scheduled to last three months.
By Emily Mason
Tags: collateral,DeFi,ETH,Ether,Synthetix
Link: Synthetix Goes Live With Host Of Upgrades Including Ether Collateral Trial For Borrowing sUSD [Copy]
