February 15, 2021: $SNX on a Rocket 🐍🚀

Curve Market Recap

Here are today’s trends to watch from Curve Market Cap, now shaded in beautiful sex-magic purple!

Looking over the top activity by volume, and it’s all Synthetix. $sUSD, $sBTC, and $sETH pools all rounding out the top five.

On Curve, it’s easy to see why it’s so popular. We’re seeing major activity on Curve’s cross-asset transactions, all of which run right through Synthetix. Yesterday saw nearly $23MM in activity, second largest daily move, and driven heavily by one massive $10MM sUSD to sBTC transaction.

Outside of Curve, big moves are also happening behind the scenes. Synthetix governance just shifted in a big way, as Paradigm, Coinbase Ventures, and IOSG combined to purchase $12MM in $SNX tokens, giving them a large sway over their DAO.

Cointelegraph @Cointelegraph

The newest Spartans to join the @synthetix_io DAO are a bit unorthodox... but they're certainly not unfamiliar. The DeFi platform has raised $12 million from Paradigm, Coinbase Ventures, and IOSG. @Blockanalia reports

cointelegraph.comSynthetix announces $12 million raise led by Paradigm, Coinbase Ventures, and IOSGHow should VCs interact with DAOs? Paradigm, Coinbase Ventures, and IOSG are providing a model.

Vance Spencer @pythianism

Awesome to have more smart people around the table as Synthetix continues to scale Hope you like winning

Cointelegraph @Cointelegraph

The newest Spartans to join the @synthetix_io DAO are a bit unorthodox... but they're certainly not unfamiliar. The DeFi platform has raised $12 million from Paradigm, Coinbase Ventures, and IOSG. @Blockanalia reports https://t.co/ub7jukLbGE

There’s also a contingent of people that want to trade in their lambos for some $sTSLA:

CryptoToit ⚔️ 💪 🦉 @CryptoToit

You do know that @synthetix_io has mastered the art of trading Stonks 'after hours' / when the markets are closed... 😉 Introducing @BalancerLabs Pools for $sTSLA

Finally, some recent governance activity to be aware of, as Synthetix is rebalancing their DeFi index:

Synthetix ⚔️ @synthetix_io

1/ In line with SCCP-77, the s/iDEFI index will be reweighted with a new composition of assets. It will be launched later this week, expected to be either Tuesday or Wednesday UTC time.

sips.synthetix.ioUpdate sDEFI and iDEFISynthetix Improvement Proposals (SIPs) describe standards for the Synthetix platform, including core protocol specifications, client APIs, and contract standards.

The proposal adds $SUSHI, $1INCH, and $BNT to the basket, reweighting it accordingly:

Too little $CRV for our tastes, but we’re heavily biased!

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For more info, check our live market data at https://curvemarketcap.com/ or our subscribe to our daily newsletter at https://curve.substack.com/. Nothing in our newsletter can be construed as financial advice. Author is a $CRV staker and perma-bull.