Today, Nov 3rd, the Suhail release will begin. Here’s what’s included in this release:
- SIP 267: Direct Integration – Implement a direct integration contract that allows approved integrators to tap into exchange functionalities with customized parameters
The direct integration contract allows the Synthetix protocol to create a unique environment for integrators, allowing access to Synthetix’s exchange functionalities with custom parameters that fit individual use cases.
This will allow approved integrators to pass on lower fees and other vital benefits to their users, after being approved by Synthetix governance.
Benefits for Synthetix Protocol
The benefits of direct integrations for Synthetix are three-fold
- More competitive offering – Lower fees can be passed on to users, making Synthetix and its overall ecosystem much more competitive from a fee standpoint.
- Aligned incentives for integrators – Synthetix hopes to attract many new integrators with a partner program that rewards innovative solutions with lower fees, ensuring a constant positive feedback loop.
- Deeper control of fees – Fees can be changed on a case by case basis, instead of adjusting fees system wide, this is a helpful change that’ll open up new opportunities.
- These integrations are setup through SIP’s and SCCP’s from the Spartan Council
Benefits for Approved Direct Integrations
As said earlier, Synthetix hopes to attract many new integrators with a partner program that rewards innovative solutions with lower fees.
Here are some examples of current partners that could integrate with Direct Integrations:
- Lyra finance can access more competitive fees from SNX, which they can pass on to users.
- Atomic Swaps from CurveFinance / 1inch, can become more competitive.
- And many more for new / existing protocols!
How do I become directly integrated?
The workflow of adding a directing integration external contract is detailed in the SIP-267, please join the Synthetix Discord with any questions.
Any Questions?
If you’ve got any comments or questions about the release, please join the conversation on Discord. This release is called Suhail, which like all releases, is named after a star (in order of visual magnitude).
