SNX guide on staking and debt hedging

Username

drakeondigital#1036

Grant Description

This will be a video guide on how to stake snx and what is happening under the hood. As well as giving strategies on ways you can hedge your position

Overview

1. Go over how the mint and burn function works with snx

2. explain the reason for the yield is the debt your taking on….. Your on the other side of the trade so if the traders are winning aka your holding susd when the trader is holding sbtc and bitcoin is going up you are now tacking on more debt and the opposite is true as well….. (also give an example to demonstrate) 1.

3. The debts are based on the pools here https://grafana.synthetix.io/d/pjPJZ6x7z/synthetix-system-stats?orgId=1&kiosk=full#synths

4. If you want to hedge your position you will need to trade into each of the assets proportional to the share they take up. ex: 20% btc and 10%eth and 70% susd……to hedge your position 20% will need to be sold to btc and 10% to eth

5. go over the automated hedge strat here https://docs.dhedge.org/dhedge-original-pools/v2-snx-debt-mirror and how it mirrors snx debt also showing it on snx platform https://staking.synthetix.io/debt

Value to Synthetix

This will help users understand the mechanics of SNX better and understand what they are buyinig/staking.

Project Implementation Plan

1. Go over how the mint and burn function works with snx

2. explain the reason for the yield is the debt your taking on….. Your on the other side of the trade so if the traders are winning aka your holding susd when the trader is holding sbtc and bitcoin is going up you are now tacking on more debt and the opposite is true as well….. (also give an example to demonstrate) 1.

3. The debts are based on the pools here https://grafana.synthetix.io/d/pjPJZ6x7z/synthetix-system-stats?orgId=1&kiosk=full#synths

4. If you want to hedge your position you will need to trade into each of the assets proportional to the share they take up. ex: 20% btc and 10%eth and 70% susd……to hedge your position 20% will need to be sold to btc and 10% to eth

5. go over the automated hedge strat here https://docs.dhedge.org/dhedge-original-pools/v2-snx-debt-mirror and how it mirrors snx debt also showing it on snx platform https://staking.synthetix.io/debt

Additional Information

Funding Request