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Synthetix Report

#5: Covering  October 1 - 8, 2019

This is your weekly reminder to claim SNX and sUSD rewards.
Claim rewards on Mintr ↗︎

PROTOCOL STATS

THIS WEEK

LAST WEEK

W/W

Exchange Volume $19,064,306 $87,832,209 -78%
sUSD Supply $2,969,865 $2,730,456 9%
Market Cap Of Synths $7,896,498 $7,736,157 2%
Active Traders 126 132 -5%
Collateralization ratio below 750% target. The debt ratio is currently around 730% -- an increase w/w.

Exchange volume is down 78% w/w. Paradoxically, this is a good thing for the network. While individual SNX staking rewards will be lower, the group's losses to sharp traders will also decrease.

Successful gas cap. SIP-12 was released October 4, which specified a dynamic cap on the price of gas for a trade transaction.

Updated graph. Last week, I explored why the trading fees were so high in the first place. This week we can see the immediate impact of SIP-12.

sTRX Daily Supply Bounds


Today's edition written by
 
Caleb Sheridan
Co-founder, Blocklytics
Twitter
 

Top 10 Synths

Ranked by this week's exchange volume

SYNTH

VOLUME ▼

TRADERS

SUPPLY

▲ 1 iETH $7,177,682 9 $491
▲ 2 sETH $6,517,117 73 $3,518,462
sXTZ $6,142,327 4 $18,207
▼ 3 sTRX $5,850,258 7 $37,680
▲ 2 iXTZ $4,768,327 3 $152
▲ 6 sUSD $3,014,634 123 $2,969,865
▼ 2 sBNB $2,158,080 9 $60,599
▲ 1 iBNB $890,427 3 $495
▲ 1 sMKR $783,547 5 $12,823
▼ 4 iBTC $716,760 6 $893