New proposal
Add xC98 synthetic

Vote 👇
https://realms.today/dao/SNY/proposal/9xmeMruFfLAAeqnCtHL4ZbhBWPzA1tEBriNNYMNKt4R2

Synthetic Coin98 is now available on our platform! 🔥
Mint it now: https://app.synthetify.io

Thanks to the DAO voting, we are introducing new collateral - $stSOL from Lido 💧

The collateralization level is set at 70%
What does it mean?
Find out here ➡️ https://synthetify.io/blog/stsol

…just between us 🤫
There’s something exciting coming up soon 🎁
Synthetify x Lido

New rewards start tomorrow 🎁
APY looks good 👀

New rewards on Synthetfiy! 🔥
Thanks to Lido, you will receive double, weekly rewards in $SNY and $LIDO for participating in the debt pool and using $stSOL.
👉 https://synthetify.io/blog/stsol-rewards

Proposal - claim protocol fees 🗳️

Vote: https://realms.today/dao/SNY/proposal/Ds6ra7bShAor6Np4yGHZKXK3Lgp3Vf9wQjApuwtfWcnf

The fee will be claimed from the Synthetify protocol to DAO treasury.
Then users will be able to decide, what to do with it.
You can vote by using even 1 $SNY🙏

The debt pool is a crucial element of our app.

In this post, we will introduce to you what is debt pool, how does it work, and how to use it, to maximize your profit 📈👇
https://synthetify.io/blog/debtpool-explanation

This week, $SNY VC-pool unlock happened🔓
Get your $SNY here 👇
https://deprecated-dex.bonfida.org/#/vc-pool/FVc1mzzSpNutagG3GXiWDNojLiPVDaGUSE5SRTsLcP7k

If you still own xLUNA tokens you can swap them to xUSD using xUSD - xLUNA pair on Invariant 🤝
https://invariant.app/swap

When in a bear market, we need to think of a survival plan 🐻
Anything pops up in your head? No? Don't worry, we have a great solution - shorting the entire market.

Curious? Read about it here ⬇️
https://synthetify.io/blog/how-to-earn-6

Recently our friends from Marinade launched Liquidity Mining Gauges 🔥
Thanks to this feature, you can vote on us to increase APY in $MNDE rewards 🥳

Learn more:
https://synthetify.io/blog/marinade-gauges

Hey 👋
As you may hear before, a few hours ago several wallet types (including Phantom and Slope) were exploited.
The hack is currently under investigation.

We strongly recommend moving all your funds from hot wallets to hardware wallets.

Stay safe 🙏

Synthetify is in maintenance mode due to the low price confidence of oracles.

We are working on it and coming back soon - with more information 🙏

⚠️ Quick status, about the app ⚠️

One of the core functions of our app, responsible for handling everything that is connected with the debt pool, is in maintenance mode currently.

We are working hard with our partners to fix it.

We hope, very soon, it will work 100%
-----
You can deposit your tokens into Synthetify - because this process isn't related to the debt pool.

Other functions, like withdrawal, aren't working right now, because, unlike deposits, this feature is related to a debt pool.
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We all were affected by the previous drama.
But, don't worry, all your collaterals are safe.

We promise.
-----
Thank you for your patience.

So sorry, for being quiet for that long time.

Also, a big thank you to our partners, for being with us in these tough times.

We are still working, to fix the platform asap. Unfortunately, it's harder, than we thought.
But some of you may be confused, about why some functions works and other don't.

As we mentioned yesterday, if the function is correlated with the debt pool, it will not work.
The debt pool is the source of our current problem.
But what can be confusing for you also is, why a deposit works but a withdrawal doesn't.

Let me explain.

The deposit function is improving users' collateralization ratio.
To calculate it, we don't need to know anything about the current debt.

Withdrawal is more advanced.
We have to calculate debt in this case.
Withdrawal will decrease borrowing capacity, which can't be lower than current debt.
Without the information about current debt, we can't complete this action.

Hey guys 👋

Finally I'm able to tell you when our platform will work again.
In the worst case - in 7 days.
We just created a proposal, that will allow us to make the necessary change in our protocol. It will be approved in 7 days, we can't do it faster.

But if there is a worst case, it needs to be a better one?
Right.

We are still working closely with our partners, we have an idea of how to fix it, and I hope, it will work, earlier than 7 days.

I'll keep you up to date

Sorry for that mess and thank you for your patience, again

Hey 👋

As we promised - all functions in our app, including withdrawn finally work ✅

So sorry, that you had to wait, that long time 🙏

Hey 👋
We’ve posted quick update about Synthetify
https://twitter.com/synthetify/status/1651947991094161410