Our team at Incept is incredibly excited to announce our partnership with Republic labs, Skynet trading, SVC, Primeblock Ventures, Big Brain Holdings, Genblock Capital, Wave 7, Edimus Capital, 0x Ventures, Solanium, GSR, and Angel DAO. Each of our partners has joined us because they identify with our vision for a more capital efficient, intuitive, and inclusive future of synthetic assets.
The current state of investing in financial markets is riddled with barriers to entry, high transaction fees, time zone constraints and countless other downfalls that discourage people from participating in investment activities globally and across various asset classes. One incredible tool that DeFi offers to help resolve such problems is synthetic assets, tokens that are meant to precisely follow the price movement of real-world assets and enable permissionless exposure to multiple asset classes for traders. They can make investing borderless, more secure, available 24/7, and permissionless. Modern synthetic asset DEXs suffer from disadvantages such as the capital inefficiency of their liquidity, complex UX, and inaccurate price pegging. To provide liquidity into synthetic asset AMM pools, an individual is stuck between two underwhelming choices. A user traditionally has the option to mint or borrow a synthetic asset with an over-collateralized position. Such a choice leads to inefficient use of capital for the LP and means that the protocol needs a large amount of capital from LPs in order to have sufficient liquidity in their pools. The other option is to buy their synthetic asset from the pool they plan to contribute to and then use that token for liquidity. This choice is more promising in terms of capital efficiency for the LP, as there is no need for over-collateralization, but worse for the protocol, because each LP who makes this choice is simply inflating the price, damaging the synthetic assets peg to its real-world price. This is why synthetic asset prices on platforms like Mirror and Synthetix tend to be inflated.
Incept’s mission is to build the most capital efficient and intuitive synthetic asset DEX by addressing each of these shortcomings through our novel Comet Liquidity System. Our unique system design allows LPs to open leveraged positions called “comets” by locking up a single collateral asset and borrowing synthetic liquidity. Advantages of the Comet Liquidity System include LPs needing just a single collateral asset to provide liquidity, LPs being incentivized not to inflate synthetic asset prices, liquidity being concentrated around the current asset price, and much tighter price pegs between our synthetic assets and their real world prices. For more information on our Comet Liquidity System (CLS), please check out this article.
We are looking for some of the best talent in the space to help us grow our team. If you’re interested in what we are building, please consider applying to join the team at: join-incept.super.site/. To stay up to date and ask us questions you can follow us on twitter and join our discord. We welcome anyone who’s interested in our product to our community of rocketeers as we build the most capital efficient synthetic asset DEX in DeFi.
👋 Join Incept Community
Website: https://incept.so
Discord: https://discord.com/invite/P24bdm9tdy
Twitter: https://twitter.com/inceptprotocol
Want to join the team? https://join-incept.super.site
