Equity Synth pool incentives are now live on Balancer!
With yesterday’s launch of the new equity Synths — sFB, sAAPL, sAMZN, sNFLX, and sGOOG — the synthetixDAO is incentivizing liquidity pools on Balancer for each of these assets for the next five weeks.
Encouraging liquidity pools for these assets is particularly important because equities do not undergo any price action during out-of-market-hours, and thus are not tradable through the Synthetix protocol during this time. Therefore offering liquidity via an AMM such as Balancer means there can still be some price discovery + access to the assets outside of this period.
For the next five weeks, the synthetixDAO is providing 2000 SNX per pool (against sUSD, which accounts for 80% of each pool). This will be a total of 50,000 SNX. Remember to come to Balancer prepared with 80% of the liquidity you would like to provide in sUSD and the remaining 20% in the FAANG stock of your choosing.
During regular market hours (9:30am - 4:00pm ET), the equity Synths are tradable against the Synthetix smart contracts with infinite liquidity and zero slippage as usual, via dApps such as Kwenta.
To receive SNX staking rewards for these pools, you’ll need to provide liquidity through the Staking dApp interface at https://staking.synthetix.io/earn. If you have any questions, come join us in Discord!