Next partner of Sei Network is Pharaoh. For years, global financial markets have been gated and therefore largely inaccessible for the vast majority of global internet users. Thanks to the advent of decentralized finance (DeFi) applications, individuals now benefit from inclusive access to markets via public blockchains.
Synthetic assets play a crucial role in facilitating this environment by providing frictionless access to real-world assets without the need to involve the underlying.
For those less familiar with synthetics, we’ve provided a definition below:
A synthetic asset is a digital asset with its price pegged to another real-world asset. Individuals trading synthetic assets benefit from price exposure to various assets without the need to access the actual underlying real-world asset.
A decentralized exchange to issue and trade synthetic assets plays a critical role in the success of any decentralized financial ecosystem. For the global internet user, synthetic assets reduce geographic and economic barriers to entry, cut out costly intermediaries and ultimately improve access to liquidity & deliver transaction efficiency. We’re bringing all of this and more to the forefront with Pharaoh.
An engaging and user-friendly platform to trade synthetics — and particularly commodities — does not exist today. Between clunky UI/UX, frustratingly complex fiat on-ramp processes and a generally high barrier to entry, synthetics projects to date have not gained nearly enough traction with the global internet users that could truly benefit from using them. This is an obvious gap in DeFi and one that Pharaoh will solve.
Unparalleled UI/UX:
One of the biggest barriers for individuals looking to trade in DeFi is the associated facade of complexity. The chief priority of Pharaoh’s developer team is to eliminate clicks and complexities to make both browser and mobile application experiences as seamless as possible. The only requirement to trade on Pharaoh is a device with internet access, nothing more.
New and creative assets / classes:
Individuals trading on Pharaoh will have unparalleled access to assets that have yet to be seen in DeFi. From traditional crypto synthetics to forex and commodities — all the way to creative delta-neutral vault strategies (believe me, we will be getting VERY creative…), Pharaoh will usher in a new and exciting era of trading for the DeFi community.
Unmatched composability:
Built atop the Cosmos SDK, Pharaoh’s composability across the greater Cosmos ecosystem will be unmatched. This will unlock access to an unparalleled amount of investment and margining opportunities across synthetic spots, options, perpetual trading, and more. We’re excited to see what creative strategies users develop over time and what new and creative synthetic assets are whitelisted through governance proposals.
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