January 16, 2023 - 3 min read
SupraOracles is excited to announce its partnership with SYNTHR Protocol, an omnichain synthetic asset protocol that offers users slippage-free, multi-chain liquidity and frictionless interoperability powered by its Layer 0 network. It uses modern techniques for managing collateral, reducing risk, maintaining pricing stability, and enabling cross-chain interoperability.
SupraOracles offers an advanced set of tools with cross-chain interoperability, 3-5 second finality, and cutting-edge cryptography for creators, developers, and entrepreneurs. Oracles are essential to blockchain technology because they enable communication with data stored outside the blockchain ecosystem. SYNTHR will receive dependable, speedy, and secure decentralized oracles and VRF services through this partnership.
SupraOracles has several capabilities that make it perfect for assisting SYNTHR’s cutting-edge composable liquidity protocol, including the following:
Additionally, for SYNTHR on Telos mainnet, SupraOracles will simplify debt tracking and automate liquidations. SYNTHR will use oracle services provided by SupraOracles to keep track of the total amount of assets issued across chains that make up the Global Debt Pool.
Joshua D. Tobkin, CEO and Co-founder of SupraOracles, commented:
“Users can now lend, borrow, trade, and stake in a permissionless and trustless environment thanks to the DeFi explosion. To increase access to financial assets, SYNTHR strives to improve on already-existing DeFi products. We are pleased to offer them our advanced oracle solutions.”
Ritwik Rudra, Co-founder of SYNTHR Protocol, commented:
“Users can now lend, borrow, trade, and stake in a permissionless and trustless environment thanks to the DeFi explosion. To increase access to financial assets, SYNTHR strives to improve on already-existing DeFi products. We are pleased to offer them our advanced oracle solutions.”
“We anticipate that integrating SupraOracles price feeds on SYNTHR will fuel the minting of synthetic assets and other functions in Telos blockchain because our platform depends on exact market data. We are excited to work together with the amazing team of SupraOracles.”
SupraOracles strives to bridge the gap between traditional capital markets and the Web3 ecosystem. Our vision and driving mission is to empower the developer community with a novel oracle toolset so that they may conveniently create, deploy, and manage data applications with superior performance, robustness, and agility.
Our project is supported by seasoned professionals with experience in the architecture of consensus mechanisms, randomness research, real-time data services, investment banking, digital securities, traditional stock exchanges, big data, doctoral academia, Big 4 consulting, blockchain/DLT, and DeFi.
With our developer community and growing list of partners, SupraOracles aims to solve the oracle dilemma and, ultimately, power the future of finance.
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SYNTHR is a synthetic asset protocol developed through a partnership between DeFi experts and traditional investors with real-world trading experience. It aims to enable traders to thrive without the constraints of traditional finance through the application of DeFi solutions and to transform trading into a genuinely universal and omi-accessible market.
Join the SYNTHR Protocol community:
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