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Chainlink
$22.33 2.36%
LINK · 6w

Sypool is Integrating Chainlink Price Feeds on Solana to Optimize Fund Management Services

We are thrilled to announce that Sypool, a synthetic asset management protocol on Solana, is integrating Chainlink Price Feeds to access high-quality, tamper-proof oracles for pricing on-chain indices that represent various buckets of cryptocurrencies.

Chainlink is the industry-leading decentralized oracle network, currently helping secure $75+ billion dollars in value for top projects across decentralized finance (DeFi), insurance, NFTs, gaming, and other critical industries. By supplying premium data backed by robust oracle infrastructure, Chainlink Price Feeds will help ensure Sypool can provision cryptocurrency indices that consistently track global markets in real-time.

Sypool is a synthetic asset management protocol that provides professional financial services to users and gives trading teams a platform to deploy their strategies and raise funds (tokens). In the early stages, only qualified trading teams will be allowed to create pools.

Several pools with different strategies will be provided to users, such as:

Index-trading SAP — tracks an index typically made up of selected tokens. Trader-based SAP — a pool of assets selected and traded by fund managers. Quantitative trading SAP — uses a large number of different technical indicators to find current market trends and make directional investments based on those trends. Structured yield fund — tracks the performance of other SAPs, but returns are varied by risk.

For synthetic asset management protocols such as Sypool, it’s critical that our fund managers are able to access real-time data with wide market coverage in order to price indices and make timely, precise adjustments to asset positions. This ultimately helps ensure our pools increase their yield and reduce unnecessary losses, given they are more in tune with global market prices.

As we look to expand Sypool’s offerings to second-layer trading such as options and futures, as well as a collateral-backed stablec...

Continue on sypool-protocol.medium.com
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