Sypool is an asset management project that works on the Solana Blockchain. It is a smart contract that implements a simpler alternative for rewarding stack mining procedures. When the Sypool project started, there were few competitors. Today, many smart contracts exist with similar functions; however, the Sypool project remains cheaper and user-friendly. Blockchains like DeFi and Ethereum, are expensive, requiring a high cost of maintenance. Hence, despite many Sypool look-alikes, there is a need for an efficient smart contract for investment benefits.
Features of Sypool
Sypool uses a bi-token system known as Governance token (SYP) and each pool share token (SAP), every participant can receive a proper reward based on the risk ratio. There are four products Sypool brings on board, which are the innovative solutions to be launched soon. The products are index-tracking SAP (Synthetic Asset Pool), trader-based SAP, structured yield fund, and assets-backed quantitative trading SAP. Sypool founders are working towards releasing the products one after the other while ensuring a profitable token. With Sypool innovation, users can build and manage portfolio tokens easily.
- 50%: Farming, diminishingly released in 3 years. Users need to stake SYP in the early stage, then staking LP tokens of the exchange to farm. It will release 110% in the first year, 100% in the second year, 90% in the third year to encourage early farming.
- 20%: Team, after 18 months, unlock 25% every 3 months.
- 17%: Treasury, including:
- 10%: Future plans.
- 5%: Community, released in 3 years, linear released every month to pay salaries to the board and community representatives.
- 2%: Consultants, released in 3 years, linear released every month.
- 10%: Investors, including:
- 2%: Seed round, 10% released at TGE, Token Generation Event; after 3 months’ interval, the other 90% will be released linearly in 15 months.
- 2%: Strategy round, 15% released at TGE, Token Generation Event; after 3 months’ interval, the other 85% will be released linearly in 15 months.
- 5.5%: Private round, 22.5% released at TGE, Token Generation Event; after 3 months’ interval, the other 77.5% will be released linearly in 12 months.
- 0.5%: IDO, released initially.
- 3%: Early minter, diminishingly released in the 10 months through an airdrop. It will release 1% in the first 2 months and decrease 0.2% every 2 months till the end.
Users can benefit from Sypool by earning extra coins on mining investment. Either the mining is successful or not, a contributor can withdraw collateral without involving the Sypool management. This project aims to create a more open-ended and larger community. Sypool permits users to deal with millions of transactions at once; the Solana foundation is highly efficient and fast. Sypool innovative products allow users with low-risk preferences to earn profit from the cryptocurrency smart contract. More so, users have various risk options. The higher the risk, the higher the staking rewards. These risk levels range from R1 to R3, with R1 being the lowest risk level, and R3 the highest risk level. Sypool would implement new features in the future that provide a great advantage. For instance, qualified managers would have access to new pools. Hence, Sypool already implements a unique farming mechanism. The Sypool mechanism is user-friendly and transparent. It does not take any form of cheating or misconduct from the managers. Also, a manager’s punishment would not affect the investors nor the expected profit return.
Sypool smart contract would involve a stable coin known as Single Collateral Dai (SAI). This stable coin ensures no investor would lose a donation. Users and managers will get their rewards with the non-fungible token (NFT). Sypool includes an oracle solution known as Pyth. Since Sypool operates on the Solana Blockchain, which is inexpensive, Pyth can program financial data with few available resources. With highly skilled and experienced team members, Jackson, King, and William, we can be sure of many goodies from the Sypool project.
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