What is Polysynth?
Starting on our journey to know all about Polysynth Protocol
Last Updated: 06 May 2022
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Polysynth Protocol is the first decentralized exchange (DEX) based on the Polygon Network that enables the trading of perpetual futures across asset classes like Cryptocurrencies, Equities, Commodities, etc. By virtue of being on Polygon Network, we are able to facilitate instant settlement at near-zero gas fees.
Perpetual futures are non-expiry contracts that allow traders to speculate on the price of an underlying asset without actual ownership of the underlying asset, by buying (long) or selling (short) the contract. Bitmex introduced Perpetual Futures in 2016 and it has been adopted by practically every derivatives exchange since then. Perpetual contracts have grown to become one of the most popular derivative products in the space.
Similar to Automated Market Makers (AMMs) like Uniswap, Polysynth Protocol uses a Virtual Market Maker(VMM) model that works on virtual pools and removes any dependency on liquidity providers.
This makes Polysynth highly scalable and enables us to offer support for the largest number of markets.

What can you do on Polysynth?

  1. 1.
    Go long or short on any asset
  2. 2.
    Trade with up to 10X leverage
  3. 3.
    Trade using MetaMask wallet (other wallets coming soon) at the lowest gas and trading fees
  4. 4.
    100% on-chain and non-custodial trading
  5. 5.
    Trading & Settlement in stablecoins (USDT, USDC, DAI, etc.)
  6. 6.
    Cross-margining
  7. 7.
    Use stablecoin LP tokens as collateral to trade
This document represents a continuous work in progress. We will endeavour to keep this document current with the latest developments. But due to the iterative nature of our development process, some implementations might differ from what is mentioned in this document. If you have identified any such issue, please report it to our discord or telegram channel.