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Simple Summary

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This proposal authorizes the Treasury Council (TC) to allocate up to USDC 100,000 to delta neutral traders who assist Synthetix with product research on the Synthetix v3 system.

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Abstract

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Delta neutral traders will trial an integration with Synthetix's v3 system and generate a written report. The report is intended to help Synthetix refine its technical architecture and economic design.

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Each trader that is accepted by the Synthetix TC for this program will stand to earn up to USDC 20,000 each as incentive.

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Motivation

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Synthetix has ambitions that its v3 system will enable it to scale to large institutional traders, especially delta neutral ones. However, certain design features in the v2 and v3 systems constrain this goal.

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To date, it has not been made sufficiently clear what these growth contraints are. This exercise is an attempt to disambiguate those constraints.

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Specification

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Overview

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Upon attempting to integrate with the Synthetix v3 system, each application will submit a report with details including:

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    \n
  1. \n

    Expectations on what the trading firm can trade realistically, on a 3, 6 and 12 month time frame, with supporting rational

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    2. \n
  2. \n

    Data analytics, trade impact measurement & microstructure analysis

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    3. \n
  3. \n

    Barriers to trading (technical, economic or otherwise)

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    4. \n
  4. \n

    Short term and long term wishlist for integration support, including specifics of what the trading firm needs from our SDK

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    5. \n
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Note: Perps v3 is in limited Beta on Base and its contracts are currently accessible through (a) direct onchain access, (b) an SDK or (c) the public Kwenta Beta. The applicant can trade on (integrate with) any of these interfaces.

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Rationale

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See Motivation section.

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Financial Specification

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The research grant is expected to take no longer than 1 month to complete, subject to mutual agreement to extend if more time is required.

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The full amount will be paid upon satisfactory delivery of the written report.

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Copyright

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Copyright and related rights waived via CC0.

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