In order to avoid disqualification, we inform you that Tron Hackathon is the first hackathon that we submitted Synergy to. All other submissions were made afterwards.
We want to help humanity and the planet. Synergy is not only a protocol for trading synthetic assets — it has a clear goal: to lower prices on commodities and reduce resources mining.
Before testing don’t forget to mint some mock wTRX here
Project Details :
Synergy combines the best practices of synthetic asset architectures. A perfect balance between over-collateral and algorithmic models, allows the protocol to keep very precise price pegs.
The algorithm can be described as follow:
User stakes RAW token in order to insure their collateral. Insurance compensate loses in collateral when global debt increases. Percentage of the compensation could be up to 100% and depend on the time of insurance was locked (min 1 month, max 2 years)
User pledge over-collateral in wTRX.
Then they can mint 50% rUSD of the cost of their debt (200% overcollaterization).
rUSD can be arbitrary exchanged to any of the synthetic assets with no slippage according to oracle prices.
The protocol also provide users to take short position with 150% overcollateralization. Shorts also affect the global debt pool.
Because of the global debt could change over time, users could withdraw less money than they pledged. This fact negatively affects price peg of the assets. This why we introduce the insurance system (item 0).
When user withdraw their debt, up to 100% debt loss might be refunded in RAW tokens if the user has enough money in insurance stake.
Sneak peek of our NFT collection. Since gold is mostly used for jewelry, we can replace it with synthetic jewelry, and make the planet hurt even less. Almost better than the real thing, right?
We don’t have a designer on the team yet, so we had to make do with what we had. In the future, we’ll design better slides. The presentation gives the full overview of the project. For a shorter version, please check out our video.
The RAW token is the central piece of our insurance mechanic. It’s used to create the insurance, as well as receive the payout. As for tokenomics, DeFi protocols always grow quicker with a token. We chose numbers for the tokenomics based on stability of the protocol in the future. There should be a balance between sale, vesting ,and emissions, so holders don’t get rekt. We are ready to change tokenomics, if we find a way to make it better/more attractive to investors.
Main utility of RAW is the ability to insure up to 100% of your debt pool losses. It will also be used for collecting protocol fees, and for DAO governance.
Hi! Synergy helps the environment because speculators will no longer handle real-life assets, but rather synths.
Currently only 10% of gold demand is driven by industrial use. Imagine if all speculation was moved to the blockchain. Corporations would mine 10x less gold, since demand on real gold went down. Same goes for most other resources: natural gas, crude oil, lithium, and others. Less mining means less pollution and destroyed ecosystems.
Of course, Synergy won’t be able to move 100% of all speculation to the blockchain. But if we can do it for even 0.1%, it’s still meaningful. We’re in all this together, and everyone should do their part. We’re doing ours.
If you have any question about the project or you tried our demo and had some problems with it, just write your question here, we are always open to discuss
In order to avoid disqualification, we inform you that Tron Hackathon is the first hackathon that we submitted Synergy to. All other submissions were made afterwards.
Pitchdeck
I wish you good luck in your track as well 
