SynAssets: Consensus Protocol
The beauty of DeFi (Decentralized Finance) is to be in a position to stay in charge of one's financial assets and to grow it without having a central authority controlling it. There are lots and loads of DeFi protocols on the blockchain,both the good and the bad. Doing fundamental analysis helps in picking out the one that works well or fits into one's ideology of what a DeFi protocol should be like.
There is a project about to launch on Polygon chain that is catching the attention of crypto enthusiasts, especially those looking to earn more in DeFi. The name of the project is SynAssets.
SynAssets is driven by early consensus participants, it is a powerful consensus aggregation network which have sufficient liquidity and no liquidation risk. SynAssets will be utilising the issuance mechanism of Olympus' POL (Protocol Owned Liquidity) alongside 5 innovations; SynAssets Assets (sAssets), IDO (Initial Decentralized Offering), consensus aggregation network, (5,5) Consensus, and deflation mechanism.
For context, Protocol Owned Liquidity (POL) is an approach by Olympus DAO aimed at providing liquidity to tokens on decentralized exchanges. The POL model makes use of a Bonding mechanism instead of the traditional reliance on providing incentives to the market to provide liquidity to liquidity pools. The Bonding mechanism is having the protocol sell their tokens at a discount to buyers, who in exchange will provide another token which forms part of the protocol’s treasury. The treasury can then be deployed to provide liquidity directly to DEXs (Decentralized Exchange), earning trading fees, and can also be invested to generate returns.
After the initial launching of SynAssets, the project will successively launch sAssets such as sMatic, sBTC, and sETH. Traditional financial assets like Apple and Tesla stocks will be launched alongside popular cryptocurrencies such as BTC, Matic, and ETH.
SynAssets aims to 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. All consensus participants in the SynAssets ecology will gain growth of wealth thanks to the consensus.
Consensus builders may participate in SynAssets ecology mainly in four ways: IDO, stake, bond, and consensus network. Every consensus participant in the ecology will benefit from the consensus. SynAssets will become the future for global finance. Not only crypto currencies, but also stocks, gold and other traditional financial tools will join SynAssets characteristic of fairness, transparency, security, and no spokespersons or dictators
Learn more about SynAssets
Twitter : https://twitter.com/SynAssets
Discord : https://discord.gg/TkkhxCjmft