The community spoke and bZx has delivered!
What is sUSD
sUSD is the synthetic USD stablecoin enabled by the Synthetix Protocol, for which it is also the base currency. sUSD can be used for trading on Synthetix.Exchange, the protocol’s dApp for decentralized derivatives trading.
How Synthetix Works
Synthetix is a protocol for issuing and trading synthetic assets that relies on two types of tokens to operate: the native SNX token, which serves as collateral, and synthetic assets, referred to as Synths.
SNX holders stake their tokens to create Synths, which can then be traded on Synthetix.Exchange. Trading Synths on Synthetix.Exchange comes with a 0.30% -0.50% fee that gets deposited to a pool and distributed to SNX holders. The protocol uses a peer-to-contract trading mechanism which enables ‘infinite liquidity’ and no slippage, providing a seamless experience for traders.
Lend sUSD with Fulcrum
Fulcrum users will now notice sUSD among the assets available for lending on the platform.
Fulcrum is bZx Network’s non-custodial margin trading platform. The dApp allows users to lend cryptocurrency for interest and trade both short and leveraged positions of digital assets up to 4x with no open fees.
Borrow sUSD with Torque
Individuals looking to borrow sUSD can now do so using Torque, our decentralized borrowing platform offering fixed-rate, indefinite-term loans.
In addition to lending and borrowing, sUSD will soon be available for margin trading on the Fulcrum platform.