SEXP is a decentralized exchange for synthetic assets built on Tezos. Our main product SEXP Synth Swap lets traders trade arbitrary pairs of assets without worrying about slippage, front-running or high gas fees.
Check out an interactive demo of SEXP Synth Swap here: https://swap.sexp.exchange
Synthetic assets allow traders to get exposure to the price development of the underlying asset. We currently support 10 crypto assets and adding non-crypto assets like stocks in the future is a possibility. Compared to automated market maker DEXes like Uniswap, traders on a synthetic asset DEX don't have to worry about moving the price with a large order.
SEXP is inspired by the well-known Ethereum project Synthetix (SNX). Synthetix currently has a market cap of over 3 billion USD and 1 billion of dollars in minted synthetic assets. The Ethereum network is plagued by high gas fees, which only makes it worthwhile for whales to use Synthetix. SEXP is built on Tezos, a modern proof of stake blockchain, which doesn't suffer from these scalability problems.
SEXP token is used to:
SEXP token is:
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SEXP Synth Swap has:
Stakers love SEXP Synth Swap for:
SEXP Synthetic Swap allows traders to trade without worrying about slippage. How does it work? Stakers can lock the SEXP tokens as collateral, and mint sUSD. Depending on how much they mint, they earn a portion of the trading fees from Synth Swap. The minted sUSD can be used to provide liquidity in on-ramp pairs, traded for other synths, sold or used in other ways.
If the value of the staker's collateral changes, they can fix their collateral ratio by adding more collateral or burning sUSD to reduce their debt. In case the staker doesn't fix their collateral ratio they can be liquidated. We are experimenting with an innovative liquidation mechanism that keeps value within the system and helps counteract sudden price drops.
We plan to keep upgrading the platform continuously, and take advantage of new features added by Tezos protocol upgrades. For example, the next Tezos protocol upgrade Hangzhou adds views that will enable us to re-architect some of the smart contracts & make reasoning about the system simpler and less error prone.
Currently Available
Q3 2021
Q4 2021
Q1 2022
Q2 2022
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