SynAssets, The Crypto Consensus NetWork.

INTRODUCTION

You may ask What is SynAssets? this is going to be just an overview and i will be leaving resources at the end of this article for further research purposes, well i will try and help you with that question to my best knowledge;

SynAssets, The first global consensus condensed platform, driven by early consensus participants, SynAssets will launch on Polygon as a powerful consensus aggregation network which have sufficient liquidity and no liquidation risk.

SynAssets will not only bring the fair issuance mechanism of Olympus, POL (Protocol Owned Liquidity), and 3.3 Consensus into the synthetic assets world, but also introduce five major innovations, namely, SynAssets Assets (sAssets), IDO (Initial Decentralized Offering), consensus aggregation network, (5,5) Consensus, and deflation mechanism. All consensus participants in the SynAssets ecology will gain growth of wealth thanks to the consensus.

Now let's dive a bit into the five major innovations that SynAssets would introduce into it’s network.

SynAssets Assets(sAsssets): SynAssets will bring a consensus synthetic asset ptotocol with high liquidity, no liquidation risk, and completely decentralized due to bring consensus into the world of synthetic assets.

IDO (Initial Decentralized Offering): SAT is launched fairly in IDO method, which is the platform token for the SynAssets and SAT holder can participate in the IDO of sAssets, SAT will be destroyed at the end.

(5,5) Consensus, consensus aggregation network: (5,5) is the idea that, if everyone cooperated in SynAssets, it would generate the greatest gain for everyone (from a game theory standpoint). Currently, there are five actions a user can take which are; Stake (+5), Invite (+4), Bond (+3), Deflation (+2), Sell (-5). More on this with the resources i will be giving at the ending of the article so you stick with me as we go along. Next is the…

Deflation mechanism: Every transaction outside the protocol will be collected x% tax as protocol control the liquidity, which will be used to add liquidity and deposited in the treasury, meanwhile, the SAT in these pairs will be destroyed. Also more on this as this looks very promising.

Further more the vision of SynAssets is that it will create a global synthetic assets exchange in the blockchain world. By bringing the consensus of all human kind together, such exchange will realize high liquidity, no liquidation risk,total decentralization, and anchoring with physical assets (including but not limited to stocks and gold).

SynAssets would also build a more powerful decentralized consensus synthetic asset ptotocol based on the Polygon chain. For most people, the gas fee of Ethereum is too expensive. However, the transaction costs on the Polygon chain are very low.

Tokenomics: SAT is the platform token for the entire SynAssets ecology. The open and fair IDO is adopted so that there are no pre-mining and team reservations. All the consensus participants can have opportunities to obtain SAT tokens through the whitelist,token utility will be determined by DAO governance.

DAO Governance

SynAssets is a community consensus participant project,so it will eventually be governed completely by the DAO.

We could go on and on with the features and innovations that SynAssets has to offer, but as i said at the beginning of the article that this is going to be an just an overview of the network.

So in conclusion SynAssets will gather more consensus participants, including KOL, blockchain enthusiasts, investment institutions, etc. in order to turn the goal into reality. When SynAssets creates value for everyone, it will become valuable in itself.

For more Information On SynAssets

Twitter|GitHub|Medium|Website

Sources:

--

--

--

Nigerian and Your whole plug

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Google Has Just Given Blockchain and Crypto Technology Its Seal of Approval

Google Has Just Given Blockchain and Crypto Technology Its Seal of Approval

Terra Virtua — entertainment, art, VR and blockchain

It’s our 2nd Birthday!

Relaynode SoCal: November 25, 2019

AZ Markets: margin trading, 489 pairs and deposit bonuses

$LUNA listed on Binance!

Platypus Liquidity Mining Design, ELI5 : Part II

The classification of tokens

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
ignatius juniour

ignatius juniour

Nigerian and Your whole plug

More from Medium

Built Bridges: Trading ETH and ERC20s on Cosmos using Sifchain

How Do Liquidity Pools in the DeFi Ecosystem Work?

Problems that Axelar Network solves

THE MATIXETF STORY: All you need to know about MatrixETF and her System.