SIP-199: Add SOL Synth on Optimism

Author
StatusDraft
TypeGovernance
NetworkOptimism
ImplementorTBD
ReleaseTBD
Created2022-01-13

Simple Summary

Add SOL Synth on Optimism.

Overview

This SIP will add a Synth for the SOL token on Optimism.

Motivation

SOL is one of the most liquid markets in all of crypto and listing this synth on OE will benefit traders on Synthetix and within the ecosystem as a whole. By listing an Alt-L1 token like SOL, we can attract traders from new communities to use Synthetix and ecosystem projects on Optimism.

Rationale

Additional crypto Synths will add further utility to the Synthetix protocol. SOL was chosen for nomination with consensus from the Lyra Council and was deemed to have sufficient liquidity.

DYDX weekly volume: $142m
CEX listings: Binance, FTX, Coinbase, Huobi
Market Cap: $43b

Specification

This Synth will be implemented in the same way as other long crypto Synths on Optimism.

Copyright and related rights waived via CC0.