/biz/ - Business & Finance

>>21222765
SNX is onchain bullshit with wrapped assets, it’s dead before it starts as onchain fees keep rising and conf times get slower. Their aggregator can’t even settle trades instantly as price updates every 3 mins so anyone using one will get rekt.

>>21191971
ETH 2.0 won’t solve scaling issues long term it’s a plaster fix for the size of the market now. As the market continues to grow and more and more tokens are using ETH blockchain it will hit scaling issues again, it is inevitable with on-chain transactions. The only way to resolve it is to move most of the little day to day transactions off-chain and then settle them in batches. ETH 2.0 will bring ETH in-line with its own ERC20 protocols so that’s a good thing at least.

As for synthetix just looked it over and it’s using wrapped assets on a side chain which means you don’t actually control the real assets so it’s no different to many other products doing the same thing. Also more of an issue is while XSN can settle trades in real time allowing use of true aggregator tools this needs 3 mins between price updates which is crypto is far too slow due to the volatility in crypto. In 3 mins a price could move more than 20% which would wipe out anyone using these tools so is a non-starter for me