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SynthFin Pro

SynthFin Pro: Synthetics Meets DeFi Excellence to Empower Investments and Redefine Performance

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SynthFin Pro

SynthFin Pro: Synthetics Meets DeFi Excellence to Empower Investments and Redefine Performance

The problem SynthFin Pro solves

SynthFin Pro offers a ground-breaking method of investing based on a company's real performance, which tackles the core problem of conventional stock speculation. The project presents synthetic assets in the context of decentralized finance (DeFi), where the supply and borrowing powers of financial protocols play a major role in determining an asset's value. Instead of engaging in typical stock speculation that is dependent on outside market factors, this creative solution enables users to invest directly in protocols and performance. SynthFin Pro is a decentralized marketplace for synthetic assets that allows users to long or short against different financial protocol indicators by utilizing UMA, Chainlink oracles, and 0x relayer. This offers a clear, performance-driven substitute for conventional stock markets, which not only improves investing prospects but also advances DeFi.

Challenges we ran into

  1. Solidity Interface and Data Types:
    Reading Solidity interfaces and converting data types proved to be a significant hurdle, exacerbated by a lack of comprehensive examples. Understanding the nuances of Solidity and navigating data type conversions required dedicated effort from the team.

2.MetaMask Integration Reliability:
Ensuring the reliable functionality of MetaMask, a crucial component for user interactions, posed challenges in integration. Troubleshooting issues related to MetaMask and ensuring a seamless user experience demanded careful attention to overcome potential barriers to user adoption.

3.Inspection of Old JavaScript Code:
Dealing with existing JavaScript code that heavily relied on callbacks presented challenges during inspection. Understanding and modifying the codebase required a strategic approach to adapt to modern coding practices and address potential compatibility issues.

4.Synthetic Token Builder Implementation:
Getting the Synthetic Token Builder to work posed a formidable task, primarily due to outdated documentation in the UMA repository. The team had to extend and hack on the UMA, adapting to unconventional methods of retrieving data on-chain instead of relying on oracles provided by the UMA team.

Tracks Applied (1)

Ethereum Track

SynthFin Pro fits seamlessly into the Ethereum track by leveraging Ethereum blockchain technology to create a decentrali...Read More

Polygon

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