We are thrilled to announce that Stocks have arrived on Kwenta. After quietly executing an experimental launch with sTSLA last month, we are now ready to publicly roll out a full suite of the some the most actively traded stocks in traditional finance. As with all Synths on Kwenta, these stocks can be traded directly for any other Synth with zero slippage, no matter the trade size.
Here is a complete list of the stocks currently available on Kwenta:
Synthetic Tesla stock: sTSLA
Synthetic Apple stock: sAAPL
Synthetic Amazon stock: sAMZN
Synthetic Netflix stock: sNFLX
Synthetic Facebook stock: sFB
Synthetic Google stock: sGOOG
This is a major Milestone for Kwenta and Synthetix. Not only does this launch enable traders to swap popular cryptocurrencies such as sETH, sLINK, sUNI, and more, directly for stocks without off-ramping from cryptocurrency into traditional finance, traders on Kwenta will also have the potential to outperform the results of a traders in traditional finance who use the same assets, as trading with zero slippage enables investors to retain more value when entering and exiting positions.
More equity Synths will be coming to Kwenta soon. Both synthetic Microsoft stock and synthetic Coinbase stock will be added within the coming weeks.
Earn Yield on Stocks with After Hours Pools
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.
Trade popular real world and crypto assets with zero slippage on Kwenta.
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