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Mission
Our mission is simple - to Poison finance in the best way possible!
Stable and decentralized digital synthetic assets have immense potential to democratize finance and bring fairness to parts of the world that don’t have access to quality, low-volatility assets. The potential market for collateralized synthetic assets is enormous. It is imperative we continue moving the synthetic assets sector forward!
Poison Finance is on a mission to democratize finance for ALL. We propose that in order to achieve 100% compliance with our objectives, promote a healthy ecosystem, and maximize profits, we need to optimize along six main features of the synthetic asset system:
- Stability
- Transparency
- Decentralization
- Scalability
- Security
- Adaptability
Let’s take a look at a few existing (and past) synthetic asset systems:
Synthetix is a widely adopted decentralized, over-collateralized synthetics issuance protocol. It is stable and (somewhat) decentralized, but difficult to scale due to its over-collateralization model. Synthetics is not capital efficient and is also prone to administrative over-sight. Faced with regulatory scrutiny it had to delist and stop trading all collateralized commodities, stocks, and ETFs.
Mirror was a collateralized synthetics issuance protocol on Terra blockchain. It looked decentralized, but when Terra's stablecoin UST collapsed, the true nature of reliance on closed ecosystems was revealed. Though at one point it produced over $1 million in protocol fees alone, Mirror imploded from within. In the end, the Oracle stoped reporting price feeds and the music stopped. Moreover, due to the closed nature of the protocol, there was zero transparency or accountability for user funds.
FTX was a centralized crypto and derivatives exchange that at one point tried to monetize synthetic assets, but under the guise of being a reputable and regulated entity. As fate would have it, not only would FTX fail to monetize synthetic assets in any meaningful way, but it would also fail entirely - with its founder and CEO behind bars for mismanagement of user funds.
How is Poi$on different?
- 1.Stable - Due to its multi-chain nature and its collateral variety of different stablecoins, volatile assets, and interest bearing tokens, it maintains no dependence on any one asset.
- 2.Transparent - All collateral on chain is not used for any other purpose, the protocol is immutable. Contract is the law!
- 3.Decentralized - From the start there is no central governing authority. The code is delivered before the commencement of the protocol. There is no owner, no founders, and no team tokens. All functions of the protocol are undertaken by users in the name of profit only!
- 4.Scalable - Due to the protocol's multi-chain nature, we will be able to achieve not only lower collateralization ratios but also greater capital efficiency.
- 5.Secured through code immutability and decentralization.
- 6.Adaptability - The protocol has the ability to move to the most profitable markets in the blink of an eye, even across chain. No dependence on one oracle protocol.
Now lets grade the protocols:
Feature | POI$ON | SNX | Mirror | FTX |
|---|---|---|---|---|
Stability | A | F | F | F |
Transparency | A | F | F | F |
Decentralization | A | F | F | F |
Scalability | A | F | F | F |
Security | A | F | F | F |
Adaptability | A | F | F | F |
Let's POI$ON Finance!
Last modified 7mo ago