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SYNC Network (SYNC) Review

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The SYNC Network

The SYNC Network is composed of two main smart contracts: the SYNC ERC- 20 contract and the CryptoBond ERC-721 contract. SYNC tokens have an un- de ned (i.e., theoretically uncapped) total maximum supply with in ationary and de ationary e ects arising from the market’s organic use of CryptoBonds. Despite being a long-term tradeable stake, CryptoBonds do not share anything in common with traditional nance bonds and do not represent a debt obligation owed by a person to the holder of the CryptoBond. They are called “bonds” because they are created by “bonding” tokens representing the creators share of a decentralized liquidity pool (e.g., Uniswap ‘liquidity-tokens’) with an equally valued amount of SYNC until a speci c pre-comitted period of time (randing from 90 days to 3 years) has elapsed (i.e., until the ‘maturity’). CryptoBonds introduce proof of long-term position in DeFi liquidity pools, and will naturally strengthen the core of DeFi nance as a whole.

The market for CryptoBonds determines the de ation and in ation of SYNC. De ation of the SYNC currency happens when CryptoBonds are created, burning SYNC from the total supply. When created, a CryptoBond locks liquidity- pair tokens with the corresponding dollar-to-dollar value in SYNC at the currently ordered proof-of-liquidity SYNC mining reward rate of SYNC. The longer the CryptoBond stake, the higher the mining reward rate oared. When a Crypto Bond matures and is claimed by the holder, the original bonded SYNC reenters the market. The SYNC mined by the CryptoBond during the maturation period may either be released periodically during the maturation period or may all be released upon maturity of the CryptoBond{see \CryptoBond Types” be-low. On the smart contract level, all of the SYNC ‘released’ by CryptoBonds is newly minted by the SYNC ERC20 contract. This process can be roughly analogized to a traditional bond issuer repaying the principal and interest on a traditional bond to the bond holder upon redemption, or paying the bond holder periodic interest while the bond matures and repaying the `principal’ upon maturity. However, with CryptoBonds, the ‘issuer’ is not a company, but a decentralized smart contract system, and there is no `debt’ or `interest’ being paid; instead, redemption occurs when the CryptoBond holder un-stakes his SYNC from the CryptoBond to regain that SYNC plus additional SYNC granted as a reward for staking to validate proof-of-long-term-position.

Essential Information
Started Date Nov 2020-NOV 2021
End Date NOV 2021
Acceptable currencies USD, BTC, ETH
SYNC Network Price $0.009367 USD
Token Name SYNC Network
Token Symbol SYNC
SYNC Network ROI -84.97%
Website Link Home
Market Cap No Data
Circulating Supply No Data
Whitepaper Whitepaper
Market Rank #2667
AVAILABLE TOKENS §300,000,000.00
ESTIMATED TOTAL SUPPLY §630,000,000.00
Blockechain Ethereum

More about SYNC Network (SYNC):

A Liquidity Supporting Platform

SYNC Network brings Cryptobonds to the market place. Cryptobonds are a new type of Financial NFT’s (non-fungible tokens). This marks the beginning of a brand new asset class. Built as a platform to strengthen crypto as a whole. A wide variety of tokens are available to create Cryptobonds with. Earn SYNC on your long-term crypto holdings while strengthening the liquidity of that asset. Cryptobonds can be TRADED.Don’t want to wait for your bond to mature? sell them!Or speculate and buy others’ CryptoBonds.

Why create a CryptoBond? CryptoBonds employ a unique risk management and liquidity-commitment incentive strategy. At time of creation, a CryptoBond takes equally valued amounts of liquidity token pairs from Uniswap and SYNC and then virtually ‘locks’ them into an ERC-721 Non-Fungible Token. At a technical level, the locking of SYNC occurs by `burning’ the SYNC from the total supply until maturity of the CryptoBond.

CryptoBond types There are two types of CryptoBonds: simple and periodic. Periodic bonds allow the withdrawal of a quarterly payment of SYNC at the end of each 90-day period during the maturation period. When a bond matures, liquidity tokens are returned, the original amount of SYNC is returned plus SYNC mining rewards, and all Uniswap fees are still the holder’s to keep. Simple CryptoBonds pay the original SYNC and all of the SYNC mining rewards only upon maturation, rather than paying some SYNC mining rewards quarterly. Trustless Transfer and Trading with NFTs The ability to trade and trans- fer your CryptoBonds to another wallet address at only the expense of a GAS fee, or list the CryptoBond NFT on a market for a completely second-layer solution.

Proof of Locked Liquidity. Time locking Uniswap liquidity pool tokens allows others in the DeFi space, and new token releases, to show how much money is locked up so that ‘pulling the rug’ is not possible. Both In ationary and De ationary CryptoBonds are able to o er SYNC mining rewards during or at the end of the maturation period without run- away in ation because CryptoBonds burn SYNC upon creation. However, overall, SYNC is expected to be slightly in ationary. SYNC mining reward rates depend on the total supply of SYNC. SYNC is burned when CryptoBonds are created, and re-minted when CryptoBonds mature (or quarterly during the maturity period, if the CryptoBond is of the periodic variety). The result is a realistic ebb and ow of reward rates, total supply, and a stable backbone to the SYNC token under an in ationary CryptoBond mechanism.

Problems that CryptoBonds Address Lack of long-term incentives in DeFi With staking platforms comes the ability to un-stake at any point in time. The cycle that is often seen with this relatively simple model is: Early users stake, project gains popularity increasing the price of the coin/token, followed by a mass un-staking of those early entrants for the pro t. Thus, the market crashes quickly, and possibly results in collapse of an otherwise healthy project. As a result of this common scenario, the staking model is often awed and not serving its purpose. New projects that want to incentivize long term holding do not need to worry about developing these staking technologies into their contracts, they can simply apply for whitelisting to CryptoBonds, and if their token is approved by SYNC governance, they can both provide long-term liquidity on Uniswap to their community, and increase their holdings of SYNC by holding through bond maturity.

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SYNC Network (SYNC) Scam or Not?

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