Kriptoks

Synthetify protocol, a revolutionary platform, offers users the ability to create, exchange, and burn synthetic assets utilizing a decentralized system of oracles. By relying on price data provided by these oracles, Synthetify ensures accurate and reliable asset valuations. The platform operates an exchange where trading takes place against a public debt pool, enabling virtually limitless liquidity and zero slippage, even during substantial trades. Participants who contribute to the debt pool act as counterparties in trades and earn pro rata exchange fees. To maintain platform stability, debt pool participants must maintain an adequate amount of Synthetify tokens (SNY) as collateral.

The Synthetify token (SNY) serves multiple essential functions within the ecosystem. Firstly, SNY is required as collateral for the creation of synthetic assets on the Synthetify platform, ensuring the proper functioning and security of the system. Additionally, SNY offers users discounts when performing swaps on the Synthetify exchange, further incentivizing engagement and participation. Looking ahead, SNY will also grant holders the ability to vote on governance decisions, providing a democratic and community-driven approach to platform development.

Regarding the distribution of SNY tokens, the initial allocation is as follows: 6% allocated to the private sale, 20% to the team, 30% to ecosystem reserves, 2.4% for exchange liquidity, 1% for IEO/IDO purposes, 20% for the Ecosystem Incentivised Fund, 10.6% for liquidity mining, and 10% for the Synthetify Debt Pool. The total supply of SNY tokens is set at 100,000,000. It's important to note that tokens allocated to the team, family, and private sale are subject to a four-year lockup program, ensuring a long-term commitment to the project's success. Additionally, Synthetify plans to introduce perpetual inflation in the future to support ongoing development and expansion.

The founders of Synthetify, a talented group of experienced blockchain developers, have dedicated their expertise to building a safe and reliable blockchain system. Led by CEO and founder Norbert Bodziony, the team launched the project in 2020 in Poland and subsequently established Synthetify Labs as a company in April 2021. Their commitment to innovation and user experience is evident through their participation in Solana hackathons, where they achieved notable accolades, securing 3rd place in the first hackathon and 2nd place in the second hackathon of 2021. With a strong emphasis on product development and user satisfaction, Synthetify is poised to revolutionize the blockchain industry and provide a seamless and rewarding experience for its users.

In summary, Synthetify protocol introduces a groundbreaking approach to asset creation and trading through its decentralized system. With the utilization of oracles, infinite liquidity, and zero slippage, Synthetify ensures a seamless and efficient trading experience. The SNY token plays a crucial role in collateralization, offering discounts, and governance participation. With a well-planned token distribution and a team of dedicated founders, Synthetify is positioned to make a significant impact in the blockchain space, delivering a secure and user-friendly platform for users worldwide.