Plugin created this product to demonstrate the stability and reliability of Plugin feeds for tracking various asset and commodity prices.
SynthX Lab - Synthetix Derivatives ProtocolAs a community-driven project, all you need to participate is Testnet XDC or Testnet PLI to explore the platform.
SynthX Lab - Synthetix Derivatives ProtocolXDUSD is a stablecoin backed by XDC and PLI tokens, pegged to the USDT value. By staking PLI or XDC, XDUSD is minted.
SynthX Lab - Synthetix Derivatives ProtocolCurrently, the synthetic assets available for swap with XDUSD are: XDSOL, XDBTC, XDETH, XDMATIC, XDCGO, XDPAX, XDAAVE, and XDPRNT.
SynthX Lab - Synthetix Derivatives ProtocolThe C-Ratio is a dynamic measure that reflects the ratio between the value of staked PLI/XDC and the active debt within SynthX Lab. Maintaining the C-Ratio is essential for system stability.
SynthX Lab - Synthetix Derivatives ProtocolYou can increase your C-Ratio by burning XDUSD to reduce debt, staking additional PLI/XDC, or waiting for price increases.
SynthX Lab - Synthetix Derivatives ProtocolSynthX Lab is currently available only on the Apothem test network, where the community can stake Testnet XDC/PLI and experiment with the "XChange" feature.
SynthX Lab - Synthetix Derivatives ProtocolYou can obtain Testnet XDC or PLI through the XDC Faucet or PLI Faucet. When you connect to SynthX Lab, you'll find these options in the left menu.
SynthX Lab - Synthetix Derivatives ProtocolSynthX Lab operates on the Apothem Testnet, any staked tokens are locked permanently in the smart contracts
SynthX Lab - Synthetix Derivatives ProtocolYes, SynthX Lab's smart contracts are open source, and you can review them on the GoPlugin GitHub repositories.
SynthX Lab - Synthetix Derivatives Protocol