Singapore, March 21, 2024 (GLOBE NEWSWIRE) -- XT.COM, the world’s first socially infused trading platform, is thrilled to announce the listing of SYNC(Syncus) on its platform in the Innovation zone (DeFi) and the SYNC/USDT trading pair started from 2024-03-11 10:00 (UTC).
About SYNC
SYNC is a ERC-20 token deployed on the Ethereum blockchain with an approximate max supply of 4.2 billion tokens. The SYNC token is designed to power the Syncus ecosystem, offering users a seamless and efficient way to engage in decentralized finance activities. As the native token of Syncus, SYNC plays a pivotal role in facilitating transactions, governance, and ecosystem growth.
The journey of SYNC began with a fair launch on November 25th, where participants contributed 188 ETH within a short span of 5 minutes, emphasizing inclusivity and community involvement. This launch model ensured a wide distribution of tokens, laying the foundation for a decentralized ecosystem. With a backed price of $0.0001 per token, SYNC exemplifies accessibility and affordability, making it appealing to both seasoned investors and newcomers to the crypto space.
One of the key features of SYNC is its adaptive taxation strategy, which dynamically adjusts taxes on sell and un-staking transactions based on market conditions. During periods of significant price increase, taxes may be temporarily increased to mitigate speculative trading and ensure protocol stability. Conversely, during market stability, taxes are re-evaluated and reduced accordingly, maintaining fairness and proportionality. This innovative approach showcases Syncus' commitment to long-term sustainability and ecosystem growth.
SYNC distinguishes itself by incentivizing long-term holding and staking, aligning with Syncus' vision for sustainable growth and stability. By discouraging frequent trading and rewarding committed stakeholders, SYNC fosters a community-driven ecosystem where participants are vested in the protocol's success. This emphasis on long-term engagement underscores Syncus' dedication to building a robust and resilient DeFi platform for the future.
Albin Warin, CEO of XT.COM, verbally emphasized the token's unique value proposition and its significance within the Syncus project. Warin commented, "We are thrilled to welcome SYNC to the XT.com platform, as it represents a pioneering approach to decentralized finance. SYNC's adaptive taxation strategy and emphasis on long-term holding align perfectly with our vision for fostering sustainable growth within the crypto ecosystem."
About Syncus
Syncus represents a paradigm shift in decentralized finance, offering a treasury-backed protocol built on zkSync to revolutionize the economic landscape. With a focus on sustainability, transparency, and innovation, Syncus aims to redefine success in the DeFi space and empower users with accessible, user-friendly financial tools.
Drawing lessons from previous DeFi experiments like OlympusDAO, Syncus acknowledges the pitfalls of unsustainable growth models and dilutive mechanisms. By dissecting the failures of predecessors and embracing a more strategic approach to treasury management, Syncus charts a new course towards sustainable value creation and ecosystem development.
At the heart of Syncus lies a unique blend of taxation mechanisms and treasury distribution strategies, designed to foster a self-sustaining flywheel effect. By harnessing the power of protocol taxes to fuel treasury growth and incentivize stakeholder participation, Syncus creates a virtuous cycle of demand, volume, and yield, ensuring long-term viability and resilience.
Looking ahead, Syncus envisions a decentralized future where its treasury-backed protocol serves as the cornerstone of a vibrant ecosystem on zkSync. With plans to expand into investments within the zkSync ecosystem and develop a suite of user-friendly financial products, Syncus aims to democratize access to DeFi and redefine the traditional banking paradigm.
Website: app.syncus.fi/dashboard
Twitter: twitter.com/Syncus_Fi
Reddit: reddit.com/r/syncus/?rdt=62850
Discord: discord.com/invite/syncus
Telegram: t.me/syncus_official
About XT.COM
Founded in 2018, XT.COM serves more than 6 million registered users, over 500,000+ monthly active users, 40+ million users in the ecosystem, and more than 800 tokens with 1000+ trading pairs. Since then, XT.COM crypto exchange has expanded its offerings by covering a rich variety of trading categories to provide a secure, trusted, and intuitive trading experience for its large user base. One such addition is crypto futures trading which includes USDT-M Futures and coin-M futures perpetual contracts, as well as copy trading that allows users to replicate top traders in real time with just one click. Additionally, the Futures Grid allows users to automate the buying and selling of futures contracts to make profits.
Website: www.xt.com
Twitter: twitter.com/XTexchange
Telegram: t.me/XTsupport_EN
Contact Details:
Syncus
0xmonke@zigzag.exchange
XT Exchange
Bella Wei
Email address: Listing@xt.com
Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.
