SyntheX zkSync Mainnet Launch

May 6 update – delayed, no new date and time announced.

May 5 update – the team has still not announced a time for the launch, time time remains a placeholder.

Expansion of of a synthetic asset issuance and trading protocol to zkSync, previously launched on Arbitrum.

The launch time for this event has not been announced, only that it is on May 5. This time is a placeholder.

DETAILS

• Mechanics & Features
  • Trade crypto, stocks, commodities, forex synthetic assets
  • Early members will enjoy boosted $SYN rewards for issuers and an airdrop for top traders
  • Users deposit collateral (e.g; USDC. ETH, WBTC) to borrow/mint synthetic cTokens (e.g. cUSD, cBTC, cDOGE)
  • 100% debt collateralization ratio
  • When you mint synthetic tokens, you are allocated a share of the pool’s debt, and is dynamic based on the total debt of the pool
  • Users earn $esSYNX rewards by holding debt, which can be converted to $SYN at a 1:1 ratio
  • Synthetic tokens issued can be swapped, or used to yield farm to earn additional yield
  • In-built swap to trade between synthetic tokens
  • Users can redeem collateral by burning synthetic tokens
  • $SYN is the native token (not yet launched)
  • $SYN utility – participate in governance, receive share of protocol’s revenue
  • 30% of the protocol’s fees will be distributed to $SYN token holders
  • Roadmap features include perpetual trading app with up to to 150 x leverage

• Tokenomics
  • Token symbol: $SYN
  • Total supply: 1,000,000,000
    • 3.3% — Pre-seed sale
    • 9% — Private round
    • 9% — Strategic round
    • 10% — Public sale
    • 30% — Ecosystem rewards
    • 20% — Treasury
    • 12% — Team
    • 4.2% — Ecosystem development
    • 3.5% — Advisors
    • 3% — Early strategic partner