FABRIC

FABRIC brings tokenised synthetic assets using SPL Synthetics, swaps and verifiable oracles. Built on Solana. It is a synthetic asset issuance protocol that will allow users to gain exposure to a variety of asset classes otherwise unavailable on the Solana network. Over the past year, we’ve seen Decentralized Finance (DeFi) progress from a buzzword to an entire ecosystem. By drastically lowering the barriers of entry to financial tools previously privy only to large banks, venture funds, corporations, and investment firms, DeFi has completely revolutionised the personal finance space. Up to now, most of the growth in the DeFi space has occurred in legacy blockchains like Ethereum. Despite continual growth, anyone that was present in the space during the 2020 DeFi summer is aware of how restrictive these legacy blockchains are. With prohibitively high gas fees eating into profits and slow transaction speeds adding unwanted friction, the advancement of DeFi into other blockchains is paramount. With that in mind, today we’re proud to announce the launch of FABRIC, Solana’s premiere synthetic asset issuance protocol. Built on the ultra-fast Solana ecosystem, FABRIC will allow users to mint, exchange and burn SPL Synthetic assets such as f-Uranium (fURA), synthetic tokenized Uranium, and f-Gold (fGOLD), synthetic tokenized Gold based on prices provided by a decentralized system of oracles. All synthetic assets are collateralized by FABRIC tokens (FAB) which must be locked into the FABRIC debt pool to allow users to mint synthetic assets. As a result, users interact directly with the debt pool during trades. This means that no counterparties are required for trades whilst also mitigating common issues experienced on exchanges such as low liquidity or slippage.