What is Synthetify protocol?
Synthetify protocol enables creation, exchange and burn of synthetic assets based on prices provided by a decentralized system of oracles. On Synthetify exchange trading is executed against the public debt pool that allows for almost infinite liquidity and zero slippage even during big trades. Participants of the debt pool earn pro rata exchange fees for acting as counterparties during trades. Debt pool participants need to constantly hold sufficient collateral in Synthetify tokens (SNY) to ensure platform stability.
##What is Synthetify token used for?
Synthetify (SNY) is anticipated to hold the following utility:
- Collateral for creation of synthetic assets on Synthetify.
- Discount for performing swaps on Synthetify.
- In the future SNY will represent vote in governance decisions.
##How many SNY will be distributed?
The initial distribution of SNY is presents as follows:
- Private Sale 6%
- Team 20%
- Ecosystem Reserves 30%
- Exchange Liquidity 2.4%
- IEO/IDO 1%
- Ecosystem Incentivised Fund 20%
- Liquidity Mining 10.6%
- Synthetify Debt Pool 10%
Total supply: 100,000,000
*Team, Family and Private Sale tokens are subject to 4 years lockup program. In the future Synthetify will introduce perpetual inflation
##Who Are the Founders of Synthetify?
Synthetify is built by a group of experienced blockchain developers to deliver safe and reliable blockchains systems. The company’s CEO and founder is Norbert Bodziony. We launched the project in 2020 in Poland and created a company, Synthetify Labs, in April, 2021. The Synthetify team participated in both Solana hackathons gaining 3rd place on the first one and 2nd place on the second Hackathon in 2021. Our primary focus is always on our product and user experience.
##Where Can I Buy SNY?
SNY is available on a growing number of exchanges, with stablecoin pairs currently available. SNY/USDC pairs are offered on:
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