Leveraged synthetic assets (synths) are one of the fundamental reasons we're developing the Spartan Protocol. These derivatives are completely unique to the Spartan Protocol and can not be found anywhere else in DeFi. They are digital cryptographic assets that represent commodities like gold and silver, stablecoins, fiat currencies, and similar financial instruments. This innovative capability gives investors the opportunity to invest using leverage into traditional asset classes through Sparta's underlying protocol.
Spartan Protocol is paving the way ahead on BSC and intends to build a bridge between the relatively new blockchain industry and the very well established Global Stock Exchange, which currently has market cap around $95 trillion! With Spartan Protocol, you are able to provide your tokens as collateral to create a leveraged synthetic asset, unlocking a whole new dynamic of DeFi. A self governing decentralised exchange, where you're able to mint your very own synth, and tether to any financial instrument in the world, is where we believe the promising road of DeFi's future is leading us. Why bother buying Tesla stock, or Apple, or Gold for that matter, when you can keep your funds on the blockchain and mint a BEP-20 synthetic version tethered to the price. No need for KYC, no need for a centralised entity, and no need for regulation.
At first, the assets with the deepest liquidity pools on the platform will be supported. These assets are liquid enough to support minting synths and leverage trading. Synths will include at first (but not be limited to):
Future phases could theoretically include supporting a basket of BEP20 assets, rather than 1 particular asset. As well as any gold-backed or stock-backed BEP-20 asset.
Spartan Protocol will initially focus on the heavy trading side of things. Being able to mint a synth with leverage, and then long or short it, without KYC is where we believe the best use case for synths is to be placed.