Today in DeFi - SNX L2 Soon, HEGIC Option Auto-exercisizer, and More

SNX L2 Coming Soon

SynthaMan | Spartan.eth @SNXified

Attention! All systems are a go! #Synthetix Layer 2 launch is confirmed. Launch scheduled on January 15th. Lets fucking go.

Optimism @optimismPBC

HAPPY NEW YEAR! Here's a review of our accomplishments in 2020 and a final win to wrap up the year: https://t.co/CWcyLIoZOL

According to the latest Optimism update, Synthetix L2 will be the first project to trial Optimism’s rollup technology on Mainnet. This trial run scheluded for January 15th will have. upgrade keys and withdrawal monitoring. The public community release is planned for March 15th.

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HEGIC Option Auto-Exerciser

jmonteer.eth @jmonteer23

this is, if you dont want your Hegic Options to expire in-the-money and lose your awesome profit, you deposit them in our auto-exerciser and forget about them a keep3r will do all the work for you you will pay 1% of your profit and 1.1x gas fees isn't it awesome?

jmonteer has released a new tool for HEGIC users. Users who tokenize their options at hegic-tokenizer.com can use this new bot to auto-exercise their options at certain conditions:

“ 1. Target price (i.e. target profit) has been reached

2. The option is in-the-money (ITM) and the option expires soon”

Keep in mind this is experimental, alpha software.

New COVER Token

Cover Protocol @CoverProtocol

New COVER Token Launch

coverprotocol.medium.comNew COVER Token LaunchThe COVER (new) token(s) can now be claimed. Please refer to the compensation plan in the Medium post to see if you are eligible to claim COVER (new) token(s). Step 2: Click an option tab that fits…

The new COVER token can now be claimed. COVER owners prior to the exploit, liquidity providers, and SAFE/SAFE2 holders may be eligible. Find out more in the post.

Stable Yield Credit

banteg @bantg

Collateralized Stable Yield Credit by Andre Cronje

Stable Yield Credit has undergone another iteration. This third version introduces IL protection, addresses security issues from V2, and also adds automated “positive sum liquidations”.

“Traditionally, as collateral value decreases in a system, external liquidators would repay the debt portion and be allowed to claim the collateral portion. With the cyclic AMM design, instead arbitrageurs add additional collateral and extract Stable Credit from the system (or simply trade for another system linked appreciating asset).”

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Disclaimer: Projects or tokens mentioned in this newsletter are often experimental or unaudited. Do your own diligence before using or buying anything mentioned