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sUSD as Main Collateral
Thales Markets accept sUSD, the native stablecoin of the Synthetix ecosystem, as the main form of collateral. Synthetix is a decentralized finance pioneer known for being innovative, open-sourced and governed by the community. This makes sUSD fully decentralized.
Synthetix stakers deposit the ERC-20 token SNX to "mint" sUSD. By minting sUSD a staker enters a debt position against the changing market value of their SNX collateral. To ensure the stability of the Synthetix platform and the value of sUSD, stakers are required to overcollateralize their SNX deposit by several times the value of the sUSD that they've minted.
There is commonly three to four times the value of SNX staked against minted sUSD.
You'll never get my sUSD.
Synthetix makes sUSD resistant to censorship so that restrictions such as blacklisting won’t affect your ability to access Thales markets. Leveraging the power of a truly distributed network means there’s no way to stop someone from sending sUSD to someone else. This also means that there is no way to stop someone from participating in markets and exercising their winning position by exchanging “Positional Tokens” for sUSD. Even if Thalesmarket.io is taken down or blocked for any reason users can still interact directly with the Thales smart contracts using a blockchain explorer such as Optimistic Etherscan.
Thales also support the use of USDC, USDT, DAI (and BUSD on BNBChain) as forms of collateral for trading Positional Tokens, thanks to Curve's sUSD+3CRV pool.