Overview

Selenium is a decentralized finance (DeFi) protocol built on the Terra Classic network, leveraging smart contracts to facilitate the creation of synthetic assets, known as Selenized Assets. These synthetic assets closely replicate the price movements of real-world assets, allowing global traders to gain price exposure without the need to physically own or transact with the underlying assets.

The minting of Selenized Assets is a fully decentralized process, carried out by users across the network through the opening of positions and the deposit of collateral. Selenium guarantees that sufficient collateral is always maintained within the protocol to back the issuance of Selenized Assets, ensuring their stability. Additionally, the protocol manages the liquidity and trading of these synthetic assets by listing them on Terraport, where they are traded against USTC.

The native governance and utility token of the protocol, SLM, is minted by Selenium and distributed as an incentive to users who contribute to securing and stabilizing the ecosystem. Specifically, SLM rewards are given to users who provide liquidity and stake LP tokens, thereby ensuring liquidity for Selenized Asset markets. SLM holds intrinsic value within the ecosystem, as it can be used to gain voting rights in the protocol’s governance process.

Selenium is a community-driven project, with the protocol’s markets and liquidity sustained through SLM incentives. The evolution of the protocol is governed democratically, allowing its users to propose and vote on new ideas, ensuring that the system continuously adapts and improves in line with community needs and innovations.