Singapore, 29th May 2023, King NewsWire – Solaris Network: The First On-Chain Synthetic Assets Solution on Binance Smart Chain

Solaris Network is a groundbreaking project that offers on-chain synthetic asset solutions on the Binance Smart Chain (BSC). Solaris lays the groundwork for a comprehensive infrastructure for the multi-chain Web 3.0 financial derivatives market by building an exceptional bridge between blockchain and the actual financial sector.

This technical analysis explores Solaris Network’s synthetic assets, including their significance, minting process, and use cases. It also discusses staking, one of the most common financial forms in the blockchain application field.

What is DeFi Derivatives Market?

Decentralized finance (DeFi) has become one of the most dynamic sectors in the crypto space. Derivatives trading is an area of DeFi that has been attracting attention recently. Derivatives are financial contracts whose value comes from an underlying asset like stocks, commodities, or cryptocurrencies. In traditional finance, derivatives are traded on centralized exchanges to hedge risks or speculate on price movements. In the DeFi space, derivatives are being used to create new financial instruments that were not possible before.

Synthetic Assets

Blockchain synthetic assets are financial instruments issued and circulated on the blockchain, composed of one or several assets (or derivatives).

Solaris Network’s synthetic assets mint corresponding synthetic assets on the blockchain by simulating cryptocurrency, NFTs, and real-world financial asset-related products. These synthetic assets cover the global financial ecosystem on and off the blockchain, providing investors with more diverse, convenient, and secure asset allocation strategies.

Solaris explores the unlimited potential of various assets in the DeFi field and enhances asset allocation’s complexity and innovative attributes.

Solaris Network: The First On-Chain Synthetic Assets Solution

Solaris Network offers on-chain synthetic asset solutions on the Binance Smart Chain, bridging the gap between blockchain and the traditional financial world. Its platform provides a comprehensive infrastructure for the multi-chain Web 3.0 financial derivatives market, enabling users to trade a wide range of synthetic assets.

Solaris’ approach to synthetic assets is unique because it allows users to create custom assets, giving them unparalleled flexibility and control over their investments. The platform also features advanced trading tools, such as limit orders and stop losses, as well as low transaction fees and fast settlement times, making it a powerful tool for retail and institutional investors.

Minting Synthetic Assets on Solaris Network

To mint sla synthetic assets, participants need to stake mainstream assets. Users collateralize mainstream crypto assets and mint sla synthetic assets according to the real-time price of the initial assets obtained by the oracle. The maximum number of synthetic assets that can be minted is calculated using the formula:

maxAm=maxVmPA

Here, maxAm represents the maximum number of synthetic assets that can be minted; PA represents the synthetic asset price obtained from the oracle; maxAm represents the total value of synthetic assets that can be minted.

Solaris Synthetic Assets (so) Use Cases:

• “so” synthetic assets offer investors a broader range of options, such as inverse crypto assets, index-based synthetic assets, NFT assets, and fractionalized NFT assets. These allow investors to short cryptocurrencies, focus on specific cryptocurrency sectors, and profit from NFT asset price fluctuations with smaller capital scales.
• “so” synthetic assets provide cryptocurrency enthusiasts access to traditional financial assets, allowing them to invest quickly and conveniently.
• Traditional investors can use “so” synthetic assets to hedge against short-term downside risks, such as holding gold futures in the real-world financial market.
• Users can add “so” synthetic assets to the Solaris DEX to provide liquidity and earn dividends from trading fees.

“so” Synthetic Assets Advantages:

Value protection: “so” synthetic assets are minted with the backing of mainstream asset value, using oracles to obtain the price of the underlying assets, ensuring the value of synthetic assets.

Diversification: “so” synthetic assets provide investors with a comprehensive, one-stop decentralized investment platform for participation in the on-chain ecosystem and traditional finance.

Cross-chain Support: Solaris supports circulation on all mainstream public chains (including Binance Smart Chain, Ethereum, Polygon, Arbitrum, Optimism, Cosmos, etc.) and allows them to participate in project services.

Decentralized, transparent, anonymous, and convenient: Minting and trading synthetic assets on the blockchain eliminates centralized intervention, achieve on-chain data visibility, and allow anonymous trading without KYC.

The Takeaway — Enjoy Barrier-Free DeFi Trading

The Solaris Network is revolutionizing the DeFi market by providing a unique platform for trading synthetic assets. It gives instant access to the market without intermediaries and utilizes real-time price feeds obtained through oracles.

Users can easily trade mainstream assets without fearing liquidity and price slippage. Solaris is well-positioned to play a pivotal role in determining the future of decentralized finance as the usage of DeFi and blockchain technology continues to grow. The network’s focus on innovation, transparency, and security indicates its commitment to providing its users with the best experience possible.

You can check out the following Media for more information and updates about our platform.

Twitter: Solaris Network Twitter

Telegram: https://t.me/solarisntwk

Discord: https://discord.gg/solarisnetwork

Gitbook: https://solaris-network-2.gitbook.io/solaris-network/

Media Contact

Organization: Solaris Network

Contact Person: Solaris Network

Website: https://linktr.ee/solaris_network

Email: contact@cryptochating.com

Country: Singapore

Release Id: 2905233790

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