This week (Tuesday December 22, ~21:00 UTC) an upgrade is being deployed with a major protocol improvement. During this time, which is expected to take up to several hours, users may be unable to interact with the protocol, including using Mintr, Kwenta, or Synthetix.Exchange, and transferring SNX or Synths.
Here's what is included in this release:
- SIP-97: Multi-collateral loans — This SIP allows users to borrow Synths against ETH and ERC20 collateral. Initially, the system will support borrowing sUSD or sETH against ETH, and sUSD or sBTC against renBTC.
- SIP-100: Resolver and cache improvements — Improves the ‘AddressResolver’ to improve protocol upgrades, reduce gas of deployments and further decentralization.
- SIP-103: sUSD shorts — This SIP allows users to short Synths against sUSD. This mechanism provides an alternative to iSynths for users seeking inverse price exposure. While these positions require collateral, they return the sUSD proceeds of the sale to the shorter, which can then be deployed productively throughout DeFi.
This release is called ‘Shaula,' which like all releases is named after a star (in order of visual magnitude). If you've got any comments or questions about the release, please come join the conversation in Discord.