Currently, there is $429 million worth of staked SNX on Ethereum and $233.7 million on Optimism. The total issued debt on Layer 1 (L1) is $86 million, and on Layer 2 (L2), it's $46.7 million, maintaining a current collateral ratio of 500%. The total issued Synths amount to about $106 million, with the majority of the debt in sUSD. The circulating supply of sUSD stands at $44 million on L1 and $44 million on L2.
Another significant feature that Synthetix provides is atomic swaps. This involves integration with 1inch and Curve, which facilitates trading between Synth assets like sBTC, sETH, etc. Atomic swaps enable trading large positions with minimal slippage. This is achieved by swapping between Synths with no slippage, using prices provided by an oracle. For example, to convert ETH into USDC, the process follows this sequence: ETH (pay on this transaction) -> sETH -> sUSD (no slippage) -> USDC (again pain on this swap). The exchange between ETH and sETH can be done through 1inch or curve pools.
Additionally, Synthetix boasts a highly active DAO with approximately 400 different Synthetix proposals.
Sources: https://dune.com/synthetix_community/synthetix-stats Show Less
