syde.fi Project Introduction, Team, Financing and News

Performances

RD Popularity Index

166.67% (24h)

0100200300400500

Project Rank: 14950/15402

RD Growth Index

0100200300400500

Project Rank: --/15402

Comparison

Event Calendar

Dec 2, 2024

syde.fi launches on the mainnet

Team

Bogdan Pugin

CoFounder

Details

Syde is a decentralized synthetic asset protocol built on the TON blockchain. Users mint synthetic assets (Synths) by over-collateralizing TON (with a collateral ratio of 300%), which can track the prices of stocks, commodities, fiat currencies, and other cryptocurrencies (e.g., ETH, BTC). Its core mechanisms include: leveraging Pyth oracle for real-time tamper-proof price feeds to ensure accurate pricing of synthetic assets; and enabling trustless transactions and settlements via on-chain smart contracts. Users interact with the protocol by connecting a wallet, depositing TON as collateral, selecting a target asset, and minting Synths. Users can stake TON to participate in liquidity pools to earn yields, or utilize collateral for leveraged looping to enhance capital efficiency. A liquidation mechanism is in place to maintain solvency: when the collateral ratio falls below 260%, a portion of the collateral is liquidated. Syde aims to introduce on-chain exposure to traditional finance and cross-chain assets within the TON ecosystem, improving capital efficiency.

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Ecosystem(1):

Founded:

2023

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