The upgrades to SynLev price calculator and price aggregator contracts have been live for over 2 weeks. Based on real world testing we can confrim these changes counteract the effects of bots abusing the Chainlink oracle system and improve the SynLev exchange for both traders and liquidity providers. As such we will now be reducing trading fees on all trading pairs. These fee changes are now live on synlev.com/exchange.
Note: 3X YFI/USD carries a higher fee as it’s Chainlink YFI/USD feed deviation threshold is 1% while ETH/USD & BTC/USD are 0.5%. …
This is a short how to and explanation of how to stake your SYN/ETH Uniswap LP tokens for ETH rewards in addition to standard Uniswap fees. First it’s important to understand how normal SYN token staking works. Our new Uniswap LP program works in a very similar manner.
First, nothing has changed with regards to how SYN staking works. We have simply set up a smart contract that has deposited 1 million SYN to stake and be shared between UNI LP providers. This amount can be increased or decreased but will always be displayed in the dApp at synlev.com/unistaking.
Yearning For More Trading Pairs
3XYFI/USD is now SynLev’s third asset release, our first being 3XETH/USD followed by 3XBTC/USD, both of which are powered by Chainlink oracles and have been trading successfully for over three weeks. We have learned a lot over the past few months with regards to implementation of oracle- driven synthetic leveraged assets. We have also made some much needed protocol upgrades to further reward SynLev liquidity providers and improve trading for all SynLev users.
As such, we are ready to introduce our third trading pair 3XYFI/USD. For this asset we will not be offering early LP rewards. iInstead, initial liquidity will be provided by the dev team from the token sales fund. To kickstart trading, we will be running a 3XYFI/USD trading competition with a 70,000 SYN prize pool starting Jan 14. …
To celebrate the recent launch of SynLev’s thirds asset 3XYFI/USD we are holding a 2 week long trading competition with a total prize pool of 70,000 SYN. Once the competition begins a live leader-board will be hosted at synlev.com/competition.
Competition Period: 2021/1/15 12:00 to 2021/1/29 12:00 (UTC)
The top 11 addresses raked by effective 3XYFI/USD trading volume (in Ethereum) will share a pool of 70,000 SYN. The reward pool will be split among traders as follows.
Join the official SynLev Telegram group chat to participate in the discussion and follow us on Twitter for the latest updates. You can also bookmark our official SynLev website to stay up to date.
Updated versions of the Synlev Price Calculator and Price Aggregator have been implemented on the Ethereum mainnet. Future price updates will now be handled by the new algorithm. For more information on these upgrades please see our previous blog post.
These changes are now live and implemented on both 3XETH/USD and 3XBTC/USD. Trade now at synlev.com/exchange.
Price Calculator Proxy: 0x80D129A01879422EB102c47Ed32DC6E8B123D05f
Price Calculator v1.3: 0x8B8BFCEDE1fAa498976437Da23a602789642B903
Price Aggregator Proxy: 0xb658E8680c1E1f148fb09cDbB3Bd0d58F9c14c00
Price Aggregator v1.3: 0x717584a1DC53DAFddE10b9819601A7082536E79e
Today we are introducing updates to the SynLev priceCalculator.sol and priceAggregator.sol contracts. The contracts are currently live Ethereum mainnet for testing and observation purposes only. They have been proposed to their respective proxies and must wait 48 hours before being fully implemented.
This is accomplished by fundamentally changing how price is calculated. Instead of grabbing singular price data points for price calculation the price aggregator now averages price over multiple price rounds, for both new price and old price averages. …
Join the SynLev team and help us grow!
Happy new year to everyone! 2020 was a great year for SynLev and the DeFi space as a whole. And we want to make 2021 even better! Many know that I have been personally managing most aspects of the SynLev project from development to PR. We have of course had a lot of help and support from the community. A special thanks to everyone who has helped the project there are too many to name but you know who you are, we couldn’t have done it without you.
To allow the project to grow we are now hiring team members. We are preferably looking for applicants who are already familiar with SynLev and passionate about it’s development. Or who are currently active in the DeFi space. All positions must be able to work with minimal direction, we are still very small and need self starter motivated team members. …
Our 3X BTC/USD LP rewards program ended yesterday, 23 Dec at 14:00 UTC. 500,000 SYN has been awarded to 165 addresses who provided 3X BTC/USD liquidity. All SYN was sent in the two transactions linked below.
The SynLev Exchange has been live for just over a month and in that time we have seen over 154,000 ETH in trading volume, 718 ETH fees paid to SYN stakers, and 15 million SYN staked in the Syn Staking contract. We are very happy with the progress we’ve made and excited to keep building the platform. We wanted to outline what users can expect in the near future.
We have grown very quickly and need more team members to help keep project momentum. We are currently looking for: Solidity developer, web developer(with web3 experience), and a pr/marketing/business hybrid position. We will be posting formal team position descriptions shortly but if you want to work with us email email@example.com …
The token sale has been delayed by 24 hours to 18:00 24 Dec (UTC) due to a technical issue.
We have received very positive feedback on our token sale proposal as laid out in our SYN token economic update. The community was happy with the reduction in the token sale allocation from 10 million SYN to 2 million SYN, and the progressive nature of the token sale price. Based on this response we will be continuing with token sale.
The token sale will take place on our platform at synlev.com/tokensale.