1 What is SYNC?
SYNC is a ERC-20 cryptocurrency that is required to make a CryptoBond. SYNC tokens locked inside of Crypto Bonds pay the user interest for their time commitment. SYNC can be combined with Uniswap Liquidity Provider Tokens to form a Crypto Bond, a unique interest barring asset.
2. What is the total supply of SYNC? The total supply of SYNC is currently 16 million tokens, the Fair Release of the remaining tokens is starting after the Crypto Bond contract is audited (currently under audit by Coinfabrik). The Fair Release is providing a total of 600 million tokens over 360 days. Tokens that become locked in Crypto Bonds are removed from the total supply. 3. Can I stake my SYNC tokens?
Single asset staking platforms have inherent flaws within them, most offer no actual good or service production. SYNC tokens are not available for standalone staking. SYNC network employs Crypto Bond which is a unique asset containing Uniswap liquidity pool tokens paired with SYNC token.
4. What is a Crypto Bond?
A Crypto Bond is an ERC-721 NFT contract that locks liquidity on Uniswap and bonds it with SYNC tokens. These Crypto Bonds earn quarterly or term interest. A CryptoBond is a fully tradable asset on a secondary market such as opensea.io.
5. What is required to create a Crypto Bond?
You will need to have Uniswap liquidity provider tokens (LPTs) from one of our whitelisted pairs. You would select how many LPTs you would like to Bond, the interface will auto-populate the SYNC tokens required which will be monetarily equal to the value of the LPTs 50/50 in value.
6. What is a Liquidity Provider Token?
When adding liquidity to the Uniswap exchange you are required to add equal value to both tokens in the pair. In return, you will receive a Liquidity Provider Token. This token represents the liquidity you added. Transaction fees from the trading of that pair are then paid as dividends to the liquidity providers.
7. How are the interest rates calculated? SYNC network balances itself through daily, self-correcting interest rates. Although Crypto Bond interest rates change daily, a Crypto Bond’s interest rate is fixed and locked in when it is created. There are multiple factors that effect interest rates as follows:
Total supply of sync in the market.
Duration of Crypto Bond
Total bonded amount of that liquidity pair token BASE INTEREST RATE :This is the main driver of equilibrium to keep SYNC going up and down, both inflating and deflating the currency.
DURATION: For the success of a stable SYNC, it is more desirable to lock for longer, and it is important to make sure that compounding shorter-term bonds do not outperform those that are longer. We define the following equation where:
LIQUIDITY PAIR INCENTIVE RATE: In order to incentivize investors to create Crypto Bonds in token pairs that may be decreasing in bonded volume, an interest rate multiplier is performed. As more money is liquidated from a certain liquidity pair, we will attract users with bonus rates to re-invest into bonds with that liquidity pair.
8. When can I collect interest payments on my CryptoBonds?
Quarterly CryptoBonds payout on the SYNC tokens every 90 days.
Term CryptoBonds locks the interest for the duration of the CBond.
9. What is the total inflation rate of SYNC?
There is no defined inflation rate of SYNC. Although maturing bonds mint new SYNC, newly created CBONDs burn their contained SYNC to keep the economy in balance. Using a sophisticated testing suite, we have modeled how this behavior may look in the long term. See whitepaper for more details.
10. Can you modify a CryptoBond once created?
No, once a CryptoBond is created it cannot be changed, altered, or canceled in any way.
11. Can I see my Crypto Bond after creation in my wallet?
Upon creation, a CryptoBond can be viewed and is even printable. Custom digital documents have been created for easy viewership of your assets. These digital documents show all pertinent numerical information in an easy to view way. We have even included a unique identifier to these documents. Anyone who scans them will instantly know the owner's wallet address even if the CryptoBond has been traded.
12. Where are you able to trade and buy active CryptoBonds?
CryptoBonds are an ERC-721 NFT contract and can be sold or bought on any NFT marketplace.
13. How are the tokens released to the public?
SYNC will be distributed via a Fair Release Schedule. Every day a select number of tokens are available. Buyers add ETH to a pool, at the end of every 24 hour period the daily allotment of SYNC is divided proportionally among the ETH contributors.
14. When does the Fair Release Schedule start?
Release of the tokens will happen after Coinfabrik completes the contract audit. This is currently underway. The Fair release will start in the month of November. Information about the audit completion will be posted on our website syncbond.com it will also be shared via discord & telegram channels.
15. What is the founders allocation?
The founders are allocated 15% of the ETH and 15% of the Operational SYNC received in the FRS. 50% will be used for the creation of network Crypto Bonds, 10% for the marketing and advertisement budget, and 10% for the development of future defi financial products and 10% for operational funds.