Converti Synthswap SYNTH in Leveraged frxETH XFRXETH

What is the project about? First fully audited and native DEX on Base. We will also offer V3 and V4 tech alongside other DeFi products What makes your project unique? Synthswap is one of the first decentralized exchanges (DEX) with an automated market-maker (AMM) in the Base ecosystem. Compared to its competitors, Synthswap will enable trading with the lowest fees! Rewards from Staking and Yield Farming will be among the most lucrative. History of your project. Launched today What’s next for your project? Bring more features like V3, V4, more token utility and grow the dexes volume and userbase What can your token be used for? Stake for real yield (platform fee sharing), Governance, Launchpad allocation.

The xfrxETH token, also called leveraged frxETH, is a decentralized, composable leveraged long frxETH futures contract with a low risk of liquidations and 0 funding fee (and in extreme cases, xETH minters can earn fees). It’s a token to amplify your gains on a long-term bet on ETH price growth. As the price of the reserve token varies, so too does the amount of base token a user may redeem for each of the stable and volatile tokens. The stable token is held fixed at a USD value of $1, so as the price of stETH in the reserve rises, the volatile token price rises at a multiple rate of stETH. Based on the performance of xETH, this multiple generally varies between 1.5x — 4x though though it can rise as high as 4.3X before the protocol responds to limit it.