Synthetify price

SNY

#2652

The initial distribution of SNY is presents as follows:

• Private Sale 6%
• Team 20%
• Ecosystem Reserves 30%
• Exchange Liquidity 2.4%
• IEO/IDO 1%
• Ecosystem Incentivised Fund 20%
• Liquidity Mining 10.6%
• Synthetify Debt Pool 10%

Total supply: 100,000,000

*Team, Family and Private Sale tokens are subject to 4 years lockup program. In the future Synthetify will introduce perpetual inflation

SNY is available on a growing number of exchanges, with stablecoin pairs currently available. SNY/USDC pairs are offered on:

• FTX
• Serum DEX
• Raydium

Synthetify is a decentralized protocol that operates on the Solana blockchain, focusing on the creation and exchange of synthetic assets. This innovative platform is designed to offer users a transparent, efficient, and scalable solution within the decentralized finance (DeFi) ecosystem. By leveraging the capabilities of blockchain technology, Synthetify addresses some of the traditional financial market's limitations, providing access to various asset classes without the need for actual ownership of the underlying assets.

At the core of Synthetify's functionality is the ability to create, exchange, and burn synthetic assets. These processes are facilitated by a decentralized system of oracles, ensuring that asset prices are accurate and up-to-date. Trading on the Synthetify exchange is executed against a public debt pool, which significantly enhances liquidity and minimizes slippage, even for large trades. This unique approach allows participants in the debt pool to earn exchange fees proportionally, acting as counterparties during trades. To maintain platform stability, participants are required to hold sufficient collateral in Synthetify tokens (SNY).

The utility of the Synthetify token (SNY) extends beyond collateral. It also offers discounts for swaps on the platform and, in the future, will enable holders to vote on governance decisions. The initial distribution of SNY tokens is carefully planned to support the ecosystem's growth and sustainability, with allocations for private sales, team members, ecosystem reserves, exchange liquidity, and more.

Synthetify was founded by a team of experienced blockchain developers, led by CEO Norbert Bodziony. The project was launched in 2020, with Synthetify Labs established in Poland in April 2021. The team's expertise and dedication have been recognized in the Solana hackathons, where they achieved notable placements.

For those interested in participating in the Synthetify ecosystem, SNY tokens are available on various exchanges, with pairs against stablecoins for ease of access. As with any investment, potential participants should conduct thorough research to understand the risks and benefits associated with synthetic assets and decentralized finance.

The security of the Synthetify platform is multifaceted, incorporating several layers to ensure the stability and safety of its ecosystem. At its core, the platform leverages a shared pool of collateral, primarily consisting of Synthetify tokens (SNY), to back the creation and exchange of synthetic assets. This collateral pool is a critical component, as it provides the necessary backing for the synthetic assets, ensuring they maintain their value and stability.

To further bolster security, Synthetify enforces a collateralization ratio of 300%. This high ratio acts as a buffer, safeguarding against market volatility and price fluctuations. It ensures that there is always a substantial reserve of collateral in place, significantly reducing the risk of undercollateralization and potential platform insolvency.

Additionally, Synthetify utilizes a decentralized system of oracles to provide accurate and timely price feeds for the underlying assets. These oracles are crucial for maintaining the peg of synthetic assets to their real-world counterparts. By relying on a decentralized network, the platform mitigates the risks associated with single points of failure, enhancing the overall security and reliability of the price feeds.

Arbitrage mechanisms are also employed to help maintain accurate pricing of the underlying assets. These mechanisms encourage market participants to correct price discrepancies between the synthetic assets and their real-world equivalents, ensuring that the synthetics trade at fair values. This not only contributes to the platform's security but also promotes market efficiency and liquidity.

In summary, the security of the Synthetify platform is achieved through a combination of collateralized tokens, a stringent collateralization ratio, decentralized oracle price feeds, and arbitrage mechanisms. These elements work in concert to create a robust and secure environment for trading synthetic assets, ensuring the platform's stability and users' confidence.

Synthetify is a platform that leverages blockchain technology to enable the creation, exchange, and management of synthetic assets. These assets are designed to mimic the value of real-world assets, allowing users to gain exposure to various asset classes without the need to own the physical or underlying assets directly. This approach offers a seamless and accessible way to engage with different markets, providing a level of censorship resistance not typically found in traditional financial systems.

The protocol operates on the Solana blockchain, known for its high throughput and low transaction costs, making it an ideal foundation for decentralized finance (DeFi) applications like Synthetify. Through the use of decentralized oracles, Synthetify ensures that the prices of synthetic assets are accurate and up-to-date, reflecting real-world market movements. This is crucial for maintaining the integrity and reliability of the synthetic assets created on the platform.

Trading on Synthetify is executed against a public debt pool, which allows for almost infinite liquidity and zero slippage, even for large trades. This is a significant advantage for traders looking to execute large orders without impacting the market price. Participants in the debt pool are rewarded with a share of the exchange fees, providing an incentive for liquidity provision.

The Synthetify token (SNY) serves multiple purposes within the ecosystem. It is used as collateral for the creation of synthetic assets, offering discounts on swap fees, and in the future, it will enable holders to vote on governance decisions. This multifaceted utility makes SNY an integral part of the Synthetify platform, supporting its operations and governance.

For those interested in participating in the Synthetify ecosystem, SNY tokens are available on various exchanges. The initial distribution of SNY tokens is designed to support the ecosystem's growth, with allocations for the team, ecosystem reserves, exchange liquidity, and more, ensuring a wide distribution that supports the platform's long-term viability.

As with any investment, especially in the rapidly evolving world of cryptocurrencies and blockchain technology, it's important to conduct thorough research and consider the risks involved. The innovative approach of Synthetify to synthetic assets and decentralized finance represents an exciting development in the blockchain space, but potential users should carefully evaluate their investment and participation.

Synthetify has experienced several pivotal moments since its inception, reflecting its growth and the evolving landscape of decentralized finance (DeFi). Initially, the platform made waves by launching its synthetic product platform, a significant milestone that established its presence in the DeFi space. This platform enables the creation, exchange, and burning of synthetic assets, leveraging the Solana blockchain for high-speed transactions and lower costs. The introduction of synthetic products marked another key development, broadening the range of assets users can interact with, including real-world currencies, cryptocurrencies, stocks, and other financial instruments.

Further enhancing its ecosystem, Synthetify developed a synthetic exchange, facilitating seamless trading against a public debt pool. This innovation addresses common DeFi challenges by offering almost infinite liquidity and zero slippage, even for large trades. The model also incentivizes participation in the debt pool, rewarding users with exchange fees proportionate to their involvement.

The broader DeFi sector's growth has also played a crucial role in Synthetify's journey. The platform's advancements occur amidst a wave of innovation and expansion in DeFi, with projects like Synthetix and dydx contributing to a more vibrant and competitive market.

Synthetify's roadmap reveals ambitious plans for expansion and the introduction of new features, underscoring the team's commitment to enhancing the platform. The utility of the Synthetify token (SNY) is central to this vision, serving as collateral for synthetic asset creation, offering discounts on swaps, and eventually facilitating governance decisions through voting.

The project's leadership under CEO and founder Norbert Bodziony, coupled with the team's proven track record in blockchain development, sets a solid foundation for future success. Their achievements in Solana hackathons highlight the technical prowess and innovative spirit driving Synthetify forward.

As the platform continues to evolve, it remains a significant player in the DeFi space, contributing to the broader adoption and understanding of synthetic assets and decentralized finance.