WOO and SYNTHR partner to accelerate an omnichain future
The alliance forms ahead of an exciting few months that will see both parties’ ecosystems converge
Meet SYNTHR
It’s about time you met a good friend of ours - SYNTHR. Envisaged in January of 2022, and now coming to fruition on public testnet, SYNTHR is on a mission to tackle the problem of fragmented liquidity. How, you ask? By leveraging synthetic assets, and enabling anyone to move them across any chain with zero slippage utilizing LayerZero technology. That’s right anon, this is no mere fork you’re looking at, but rather a first-mover in the sphere of omnichain synthetics.
What makes SYNTHR different?
Synthetics assets are a fast-growing vertical in crypto, and SYNTHR is going where no other team in this sphere has gone before, adopting an open and chain-agnostic approach. Imagine being able to swap tokenized oil, gold, or stocks across blockchains without any slippage, and without interacting with a bridge. This is the vision of SYNTHR - to connect the disparate chains of DeFi so that synthetic assets can flow between them as fluid as water.
Where does WOO fit in?
As part of its ecosystem, SYNTHR’s very own DEX aggregator enables users to swap native assets across a multitude of chains with low slippage. To deliver the best execution, SYNTHR will enroll in WOOFi’s broker program, tapping into WOOFi’s deep liquidity, setting up incentivized syAsset pools across all compatible chains, and earning rebates. WOOFi stakers will benefit from this integration too, earning 80% of all fees from SYNTHR order flow in their choice of WOO or USDC.
What do we like about the SYNTHR team?
SYNTHR Co-founders Ritwik and Nitin have 21 years of financial experience between them and are as sharp as a serpent’s tooth. They're both highly articulate and driven, and the demand for their product speaks for itself with SYNTHR already having secured 11 different grants from various ecosystems. Alongside Ritwik and Ntin stand a growing team of 15 with rich expertise who know DeFi like the back of their hand.
What else is planned?
Beyond the integration with WOOFi, a much deeper collaboration is in the works - more details of which will be unveiled when the time is right. If this article has piqued your interest in SYNTHR, we highly recommend giving them a follow on Twitter and setting aside some time to scan their whitepaper which contains more rich information on the ambitious goals which they are setting out to achieve. Until next time, Wooriors.
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