Learn all about the SYNC token, the fuel for our ecosystem.
Please note: these are the tokenomics based on when SYNC Network launched In 2020. We'll update the tokenomics to include NeonRain, as SYNC plays an integral role in the upcoming NFT marketplace.
SYNC is an ERC-20 cryptocurrency and NFT financial primitive that ‘bonds,’ or locks Uniswap liquidity pairs against SYNC tokens to make a tradable ERC-721’s (NFTs) called a ‘CryptoBond.’
In traditional finance, bonds are fixed-income securities issued by governments/corporations to investors who provide money/capital for loans that help finance projects or operations. Security bonds are essentially an ‘I.O.U.’ that details the principal amount paid, the term and length of the bond, and establishes a fixed or variable rate of interest paid out to the investor.
The benefit of having a bond is that you get your principal amount returned plus interest, which is similar to how a CryptoBond works (which we will get into further down). One key differentiator between a DeFi CryptoBond and a traditional one is that you can sell your CryptoBond any time you want on an NFT marketplace like Neon Rain (coming soon), Rarible, LooksRare, etc.
The SYNC Network aims to bring stability and risk mitigation to the decentralized finance (DeFi) ecosystem by providing long-term staking, which we think will help serve as the backbone for liquidity pools like Uniswap in the future.
You can check the total supply of SYNC here: https://tokenomics.syncbond.com/total_supply, but the total supply is undefined.
The total maximum supply of SYNC tokens is theoretically uncapped due to inflationary and deflationary effects derived from the market’s organic use of SYNC CryptoBonds, i.e., the CryptoBond market determines the deflation and inflation of the total SYNC supply.
When a CryptoBond is created, the equal value of SYNC tokens is burned from the total supply.
Yes, although SYNC is not available for traditional standalone staking, our platform utilizes CryptoBonds as a unique asset containing Uniswap Liquidity Provider Tokens (LPT) paired with SYNC tokens at equal US dollar amounts.
By providing long-term liquidity to Uniswap, and incentivizing our community members over the long term, we aim to increase our member's holdings of SYNC via bond maturity and serve as a model financial primitive to help bring stability to the DeFi ecosystem.
There is no defined inflation rate for SYNC. Even though maturing CryptoBonds are minting new SYNC tokens, the newly created CryptoBonds burn their SYNC to keep the token economy in balance.
Using a sophisticated testing suite, we have modelled how this behaviour might look in the long term.
No, once a CryptoBond is created it cannot be changed, altered, or canceled in any way.
You are provided with a tradeable NFT CryptoBond that is not only rare but one-of-a-kind and collectible. CryptoBonds are completely unique and provide owners with a unique digital artwork representation.
You can customize your CryptoBond by lock-up period, and by visual rarity by using our dApp to create your bond.
Upon CryptoBond creation, bonds can be viewed and are printable. Custom digital documents are created for easy viewership of these assets, showing all pertinent numerical information in an easy-to-view way. To learn more about NFT CryptoBonds, click here.
CryptoBonds are an ERC-721 NFT contract and can be sold or bought on any NFT marketplace, e.g., LooksRare, Rarible, etc.
All of the tokens have been released. You can buy SYNC tokens on Uniswap: https://app.uniswap.org/#/swap?inputCurrency=0xb6ff96b8a8d214544ca0dbc9b33f7ad6503efd32&outputCurrency=ETH