Guide to Get Started with using zkSynth. Learn how to mint synthetic assets and how to use them to generate yield.
How To Use?
You can mint synthetic assets by depositing collateral into that specific market pool (Crypto, Forex Market, etc.). When you want to withdraw their collateral, simply burn the synthetic assets, and then you'll be able to get your collateral back to your wallet.
1. Select Market
Select a market from which you want to mint Synthetic Assets For example, if you want fEURO select Forex Pool, if you want cETH select Crypto Pool
2. Deposit Collateral
Deposit collateral of your choice that is supported in that pool (USDC or ETH or USDT)
3. Mint Synthetics
Upon adding collateral, you will be able to mint synthetic assets from that pool.
Note: Debt is Variable. At the time of minting synthetic asset, you are allocated debt of dollar value share of the pool's total debt at the time of issuance. As the pool's total debt increases or decrease your share of debt will increase or decrease accordingly. This is a feature of synthetic assets that makes them so powerful
4. Be a Degen
Make your own strategies to generate as much yield with your Synthetic Assets. Here's how you can do it:
1. Trade: High Risk High Reward
In order to make profit, you need to hold synthetics that move up ⬆️ relative to total pool's liquidity. And move according to your strategy, goal is to your minted assets' value to be greater than your debt share. Read more about Debt Share