Synthetic assets are one of the most promising innovations in DeFi, allowing users to access and trade any asset class without intermediaries, liquidity constraints, or geographical barriers. However, existing synthetic protocols suffer from various limitations, such as high fees, low capital efficiency, limited asset selection, and complex user experience.
Reax is a new synthetics protocol that aims to overcome these challenges and provide a comprehensive DeFi platform for trading, lending, borrowing, and leveraging synthetic assets with zero slippage. Reax is built on Mantle, a layer-2 scaling solution that enables fast, cheap, and secure transactions on Ethereum.
In this article, we will introduce the main features and benefits of Reax.
Reax allows users to mint and trade hundreds of synthetic assets without trusting bridges/reserves or needing liquidity. These assets include cryptocurrencies, stocks, forex, commodities, and more. Users can also create their own custom markets with Reax's composable interface, from stablecoins to global markets on-chain for anyone to trade with zero slippage.
Synthetic assets are backed by Reax tokens (REAX), which serve as collateral and governance tokens for the protocol. Users can stake REAX to mint synthetic assets or earn rewards from fees.
Reax offers a unique DEX that combines synthetic swaps with stable pools to provide users atomic swaps with the lowest price impact and fees for each swap. Users can swap any asset with zero slippage and enjoy high liquidity and capital efficiency.
Users can also access cross-chain assets through Mantle's interoperability features.
Reax provides a unique lending and borrowing experience with maximum capital efficiency, with liquidation only at >98%. Reax is the first atomic lending protocol built on Mantle, meaning that users can borrow and repay at maximum capital efficiency without worrying out revolting over collateralization.
Users can lend and borrow any synthetic asset with low interest rates and high utilization rates. Users can also leverage their positions up to 250x with Reax's perpetual contracts.
Reax enables users to trade with up to 250x leverage on any synthetic asset, whether they want to go long or short. Users can enjoy low fees and high liquidity with Reax's perpetual contracts, which are based on a funding rate mechanism that ensures fair pricing and market efficiency.
Reax's perpetuals are powered by Mantle's scalability and security, allowing users to execute large trades without risking liquidation or front-running.
Reax allows users to build and manage their own portfolio of synthetic assets with its synthetic vaults. Users can also create and join funds, indices, structured products, options, and more with Reax's flexible and composable vaults.
Reax's structured assets enable users to diversify their exposure, hedge their risks, or express their market views with customized strategies. Users can also benefit from the network effects and social trading features of Reax's vaults.
Reax is the ultimate DeFi platform on Mantle, offering a wide range of derivatives such as slippage-free swaps, perpetuals, lending, structured assets, and more. Reax is the first synthetics protocol with stocks, forex, crypto, and commodities natively on Mantle.
Reax is launching soon on Mantle's testnet, and we are excited to share more details and updates with you soon. Stay tuned!