SynLev Exchange Fee Reduction, Contract v1.3 Upgrade Review, and Verified LP Improvements!
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.
Trading Fee Reductions
- 3X ETH/USD: 1% → 0.6%
- 3X BTC/USD: 1% → 0.6%
- 3X YFI/USD: 1% → 0.8%
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%.
Improvements to LP
Most importantly we now have proved that providing LP on the SynLev exchange is profitable. On the launch of 3X YFI/USD we provided 100 ETH from SYN sales as initial LP, after less than 2 weeks our liquidity values has increased to 104.26 ETH, an increase of 4.26% in share price!
We have a lot more changes that we will be pushing and announcing in the coming weeks. Stay tuned! Join the official SynLev Telegram group chat to participate in the discussion and follow us on Twitter for the latest updates.