Why can Synthetix's single-day trading volume exceed 250 million US dollars?

This article is based on the views of themerge.eth on personal social media platforms, and BlockBeats organizes and translates them as follows:

Recently , the daily transaction volume on Synthetix exceeds 100 million US dollars, what makes the transaction volume soar?

< p>Synthetix provides a low-slippage experience for synthetic asset trading, but most people don't want to hold synthetic assets (they prefer to hold ETH instead of sETH). Therefore, not long ago, the Synthetix community cooperated with Curve to create sETH/ETH, sBTC/BTC and sUSD/3crv Curve fund pools, which reduced the transaction fees for USDC/sUSD, sUSD/sETH and sETH/ETH trading pairs.

However, Synthetix performs asynchronous transactions (that is, the fee recovery scheme they implement) - the user initiates the transaction, and then the Manual settlement after 6 minutes. Its user experience is much worse compared to immediate execution of transactions, which is why Synthetix has not gained enough users in the past and has not been integrated by aggregators.

The integration of 1inch drives an increase in transaction volume on Synthetix. In addition, the emergence of the SIP-120 proposal also played a role in promoting. SIP-120 enables Synthetix to basically perform atomic swaps by fetching the real-time price on Uniswap and comparing it to the price fed by Chainlink, thus ensuring that the results of the current Chainlink feed will not be accepted in advance or affected by delays in real-time price updates.

This makes Layer 1 on Synthetix transactions are atomic. Now, as long as there is enough liquidity in the Curve fund pool, every user can get good pricing execution in the ETH<>USD<>BTC conversion chain through Synthetix.

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