Context: https://forum.synapseprotocol.com/d/9-sip-07-joining-fei-ondos-liquidity-as-a-service-laas-program/
Summary
- Synapse enters a partnership with Fei Protocol and Ondo Finance to create lower cost & higher capital efficiency for $SYN liquidity
- Fei DAO to provide $12.5M FEI, at a rate of fixed 5% APR, to be paired with $12.5M SYN to LP SYN/FEI on UniswapV2 totaling $25M in SYN/FEI liquidity.
- Significantly cheaper cost than incentivizing LPs, alongside Synapse earning trading fees, in exchange for IL risk taken on by the Synapse DAO
- $TRIBE incentives from Fei DAO over the next 3 months
- SYN incentives towards SYN/ETH LPs will be reduced, and redirected to Synapse's program with OHM Pro to build protocol-owned liquidity