Today, the
#Plugin community steps into a new era with the launch of SynthX Lab, our groundbreaking platform formerly known as XSyn Protocol. SynthX Lab revolutionizes how you interact with synthetic assets, providing a seamless, secure way to purchase and trade using $XDUSD, our stablecoin backed by
#XDC and
#PLI tokens.
Key Features of SynthX Lab:
Apothem Network Integration: Fully developed application with smart contracts deployed for community trial runs.
Stablecoin Utility: Mint XDUSD with a collateral ratio, offering a stable and reliable medium for transactions.
Advanced Exchange Mechanism: Engage in Contract-to-Contract transactions to swap XDUSD for a wide array of synthetic assets or commodities without the worries of slippage or liquidity issues.
Precise Price Feeds: Integrated Plugin oracle ensures accurate pricing for all assets, maintaining transparency and trust.
Dynamic Asset Pool: A diverse range of assets and commodities are ready for trading, mirroring real-world values in a synthetic format.
Coming Soon: Rewards for stakers, mechanisms to burn XDUSD for unlocking staked value, solutions for managing lower collateral ratios, and a small fee for swapping synths, enhancing the platform’s functionality and user benefits.
Our Goal: To demonstrate how Plugin’s decentralized oracle network is crucial in supporting sophisticated financial applications like SynthX Lab, enhancing both security and efficiency.
In our next announcement, we will share the application link for your reference.
Please join us in shaping the future of decentralized finance.
#SynthXLab #DeFi #PluginNetwork #SyntheticAssets #BlockchainInnovation #Web3 #MultiChain #WeAreXDC
