SNY Address: 4dmKkXNHdgYsXqBHCuMikNQWwVomZURhYvkkX5c4pQ7y
Synthetify exchange allows users to engage in a trading activity without the need for a direct counterparty. Stakers of the protocol act as a counterparty for all trades and in exchange for that they receive pro rata exchange fees and inflation rewards.
Each trade has a static fee - currently 0.3% - and no matter the size of the trade, the price of the exchange stays the same (exception is a discount). This feature often is called "Infinite Liquidity" but it is limited by the amount of debt created by Stakers. Trading on Synthetify exchange does not require ownership of its native token (SNY) or staking it. The only thing it requires is the ownership of any of the synthetic assets.
The SNY Token is planned to have a total supply of 100,000,000. We plan to introduce perpetual inflation in the future. The initial distribution of SNY will be as follows:
- Ability to participate in debt pool. Participants earn pro rata fees for providing liquidity.
- Vote in governance decisions in the future.
- Discount on fee when using swap