Generate Synthetics using sfrxETH

Published on: 12.03.2023
Generate Synthetics using sfrxETH

Generate Synthetics using sfrxETH

TLDR:

  • Users can now deposit sfrxETH as collateral on Metronome Synth
  • sfrxETH is a Liquid Staking Token (LST) product by FRAX Finance
  • sfrxETH enables users to leverage the staking power of Frax ETH validators to earn a yield
  • Holding sfrxETH gives you a valuable stake in frxETH

Overview

What is sfrxETH?

How to Deposit sfrxETH into Metronome

  1. Visit the Metronome App
  2. Select sfrxETH and click ‘Deposit’
  3. Generate the Synth of your choice
  4. Confirm the transaction and pay gas fees

About METRONOME

Website Twitter |

Source

REQUEST AN ARTICLE

Market Stats:
BTC Dominance: 61.89%(+0.20%/24h)
ETH Dominance: 8.23%(-0.14%/24h)
Defi Market Cap: $78.76B(+37.21%/24h)
Total Market Cap: $2671.37B(-2.42%/24h)
Total Trading Volume 24h: $122.27B(+57.16%/24h)
ETH Market Cap: $219.83B
Defi to ETH Ratio: 35.83%
Defi Dominance: 2.84%
Altcoin Market Cap: $1018.04B
Altcoin Volume 24h: $73.33B
Total Cryptocurrencies: 34225
Active Cryptocurrencies: 10421
Active Market Pairs: 103695
Active Exchanges: 817
Total Exchanges: 10285
BTC: 83369.22$(0.94%/1H)
ETH: 1826.28$(1.51%/1H)
AVAX: 18.29$(1.62%/1H)
BNB: 596.03$(1.11%/1H)
MATIC: 0$(0.95%/1H)
FTM: 0$(-0.27%/1H)
ADA: 0.65$(0.87%/1H)
DOT: 4.03$(1.46%/1H)
UNI: 5.94$(1.58%/1H)
CAKE: 1.83$(1.08%/1H)
SUSHI: 0.56$(1.87%/1H)
ONE: 0.01$(2.29%/1H)