SYNC NetworkSYNC
$0.0576
Market/Exchange
SYNC Price Prediction and Price Movement
SYNC has been down 10.04 percent over the last three months, and with its small market capitalization, it is very likely that such price movement may continue. However three months is still considered early in the crypto world and it is also likely that SYNC's price may bounce back if it has a solid team and has delivered what they promised on their white papers. Therefore traders should be careful and should research thoroughly and see if SYNC is backed by a solid development team and whether SYNC's technology has any potential to grow.
Please note that this analysis is purely base on SYNC's historic price actions and is by no means financial advice. Traders should always do their own research and be extra careful while investing in cryptocurrencies.
SYNC Network Price Chart
About SYNC Network
What is the SYNC Network (SYNC)?
The SYNC Network is a Layer 2 platform that creates cryptocurrency bonds that earn interest via Non-Fungible Tokens (NFTs). The network uses ‘CryptoBonds,’ a new sort of financial primitive, to create digital interest earning assets with a twist — receiving principal amounts plus earned interest in a fully trade-able NFT that can be sold on secondary markets like OpenSea and Rarible any time.
The goal of the SYNC Network is to bring stability and risk mitigation to DeFi by providing long-term staking, or ‘CryptoBonds’, to Automated Market Makers (AMMs) like Uniswap.
What are CryptoBonds?
A CryptoBond is a fully tradeable ERC-721 NFT token that locks in liquidity on Uniswap. The SYNC platform mints two tokens: an ERC-20 awards token for Uniswap Liquidity Providers; and an ERC-721 NFT that bonds Uniswap liquidity pairs to SYNC tokens for a specified amount of time (ranging from 90 days to 3 years) that earns interest. When the CryptoBond matures, the holder receives back the original investment plus interest.
The CryptoBonds are made by bonding liquidity pair tokens with the corresponding dollar value of SYNC tokens at the current mining reward rate. Called ‘bonds’ because they are made by ‘bonding’ tokens representing the creators share of a liquidity pool (e.g., Uniswap ‘liquidity-tokens’) with an equally valued amount of SYNC tokens, until a specific period of time has lapsed (i.e., a CryptoBond reaches maturity).
Some other unique features of CryptoBonds are individualized liquidity mining rewards that are readjusted daily based on liquidity pool supply and demand, and rare one-of-a-kind artwork that is created when the bonds are minted.
How many tokens in circulation?
While the total supply of SYNC is undefined, total supply can be seen any time by visiting https://tokenomics.syncbond.com/total_supply. The total maximum supply of SYNC tokens is theoretically uncapped due to the inflationary and deflationary effects derived from market forces, i.e., when a bond is created, an equal value of tokens are burned from the total supply.
Who Are the Founders of SYNC Network?
The SYNC Network was developed by a core group of agile developers, but the platform is community-governed and a fully decentralized DeFi ecosystem. The SYNC Network is governed by token holders who put forth proposals for a community vote, with CryptoBond holders having the most power (the more CryptoBonds you hold, the more voting power you have). However, any SYNC token holder can create a governance proposal to be voted on by the community.
Where Can I Buy SYNC Network (SYNC)?
The SYNC Network was originally developed to be used on Uniswap, and can be found here. However, the team is exploring other integrations for the future on other AMMs and DEXes.