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SNX

SNX: Another week, another upgrade!Synthetix Network and Kwenta are still blasting away at upgrades, or as they call them, "SIP's" which is an acronym for Synthetix Improvement Proposal. They also give weird "star" names to their SIP releases (in order of visual magnitude) which is all good, I suppose. What matters is they are in storm mode when it comes to improving and implementing. I love it. Where this may cause some occasional turmoil in usage and possibly hinder immediate price action, I see it as further reason to hold for the long term as I continue to grow my SNX coin/token count weekly at 13.99% APY by simply holding SNX in a Celsius Network account (If you decide to join me in earning high interest there, you can earn $50 in BTC by using my referral code 189218504d). Of course, we will reap the rewards in price action eventually, but on our own timeline. I am conservatively predicting a 300 percent gain over the next 6 to 9 months. And my 13.99% yield will compound in a doubling fashion every 5 years even without any price action increases. Yes, I did the math! Patience pays well! Anyway, later today the Avior (the "star" name for SIP-182) release will implement a new upgrade on L2 only. During this release there will be no downtime on L1, but up to 3 hours of downtime L2. Here's what’s included in this release: SIP-182- Wrappr factory: This SIP creates a new WrapperFactory contract that can deploy new Wrapper contracts to support any ERC20 token. The new Wrapper contract behaves like its predecessor (the ETH Wrappr from SIP-112) and will initially include a WETH wrapper, though more Wrapprs will likely be added in the future. In layman's term, creating "wrapprs" has to do with creating synths or derivatives...potentially on anything tradable in the entire world, like Cryptos, FOREX, Stocks, Commodities, etc. Well, you get the idea; everything. This is the strength and foundational idea of the Synthetix Network (and Kwenta). If you want more info on what I am doing to generate that 13.99% in additional SNX tokens, feel free to ask in a comment.
BINANCE:SNXUSDLong
by tg-l
SNX Looking READY for Liftoff #SynthetixOn the daily charts I noticed that it appears that SNX could be forming one of the largest bull flags I've ever seen. This is not trading advice, but I'm personally long on SNX since it has yet to mark up and return to it's ATH this cycle leaving plenty of potential for gains. It's very possible that it could consolidate to gain momentum for a little longer, but eventually, SNX is going to melt faces. Additionally, Sythentix Network is an awesome project with plenty of support on the fundamental level. Best of luck on your trades and please don't risk anything you can't afford to lose (especially your sanity).
Long
by iHeartData
2
Kwenta Futures Trading Competition via Synthetix/$50,000+ prizesI posted about this back on the 19th, with little fanfare. So, in an attempt to give it the attention it deserves, here are direct quotes from their blog: "This competition will act as a demonstration of how perpetual futures trading on Kwenta will feel as we continue to refine the experience and prepare for the main net launch." "Futures ...are unique in that they are built entirely using decentralized technology with the Synthetix protocol. Traders will benefit from the deepest liquidity...zero downtime during points of volatility...permissionless product...and, eventually, futures for a wide variety of assets outside of the cryptocurrency ecosystem." "Be eligible to win part of a 50,000 sUSD prize pool and rare NFTs in prizes." "Prizes: 1st place: 15,000 sUSD + Rare NFT 2nd place: 7,000 sUSD + Rare NFT 3rd place: 3500 sUSD + Rare NFT 4th-20th place: 500 sUSD 21st-100th place: 200 sUSD NFT winners will be able to use their NFT to gain access to private groups and hidden features. All competition participants will also be able to acquire a POAP. The prizes listed above are guaranteed; however, there may be additional prizes…" "The competition will run for 1 week." "To trade synthetic assets and soon futures, visit Kwenta." Anyway, there is more info on their blog including how to get started. I hope you have fun and I wish you luck!--Garry
COINBASE:SNXUSDLong
by tg-l
SNX Updates: Two Items todayNote the following quotations are their words, not mine. I am just passing this on to my fellow SNX hodlers to keep you abreast of either delays or progress (I see it as both). 1. "Today (October 19, ~21:00 UTC) the Kaus release will begin, implementing a minor upgrade on both L1 and L2. During this release there will be no downtime on L1 or L2. Here's what’s included in this release: SIP-187 - Fix Partial Synth Updates In Debt Cache: Fixes an issue with partial updates of synths in the debt cache which is causing the cached debt value to not update after minting and burning sUSD. This release is called Kaus , which like all releases is named after a star (in order of visual magnitude)." 2. Also, the Synthetix folks "have been busy building the future of the Synthetix protocol and have launched our decentralized perpetual futures on testnet. All futures will be traded through Kwenta and to celebrate, we've launched a free trading competition for our community with up to $50,000 in prizes. The signup process is easy (you just need a wallet address and a twitter account) You can visit the Registration Page or for more detailed instructions, visit the Kwenta Blog. As a contestant, you will have the first public look at our new perpetual futures trading platform, powered by Synthetix. As the first truly decentralized and composable derivatives protocol, our perpetual futures are optimized by simulated liquidity, which helps ensure you get the best fill across any asset." So, they have a few irons in the fire, which may actually be retarding price action for the time being, but in my humble opinion, an improved protocol will be a more valuable protocol. - TG-L
BINANCE:SNXUSDLong
by tg-l
SNX beautiful reason to 🚀🚀 🤑🤑SNX as begin a new uptrend. Reason For every upswing, it first HH(Higher High) forms a Support level for it next Upswing. You can notice in the image above And here is how: T1's high( resistance level ) forms T2's low( support level ) T2's high( resistance level ) forms T3's low( support level ) and finally T3's high( resistance level ) forms T4's low( support level ) but if it doesn't form its sure to bounce in between T2 and T3 high. But be always be sure to wait for a retest, for every trade you take. Remember your risk management. Finally Goodluck in your trade.
Long
by Ojomo
1