SYNASSETS: THE CONSENSUS AGGREGATION NETWORK

What is SynAssets?

SynAssets will begin on Polygon as a robust consensus aggregation network with significant liquidity and minimal liquidation risk, thanks to early consensus members.

SynAssets will introduce five major innovations, including SynAssets Assets (sAssets), IDO (Initial Decentralized Offering), consensus aggregation network, (5,5) Consensus, and deflation mechanism, in addition to bringing the fair issuance mechanism of Olympus, POL (Protocol Owned Liquidity), and 3.3 Consensus into the synthetic asset's world. Because of the consensus, all consensus members in the SynAssets ecology will see their wealth grow.

Following the first introduction of SynAssets, we will roll out sAssets like sMatic, sBTC, and sETH. We will launch traditional financial assets like Apple and Tesla stocks, in addition to cryptocurrencies such as BTC, Matic, and ETH, to bring the new form of consensus mechanism into the traditional financial community. In the initial launch, innovative services such as sAssets,(5,5) Consensus, consensus aggregation network, and deflation mechanism will be available.

SynAssets will collaborate with consensus participants in the future to develop and launch new features such as DAO governance in order to create the SynAssets ecosystem together.

In order to make the aim a reality, SynAssets will bring in more consensus participants, such as KOLs, blockchain aficionados, investment institutions, and so on. SynAssets will become valuable in and of itself when it produces value for everyone.

What is the purpose of SynAssets?

Olympus is a great aggregation algorithm for reaching a consensus. It has developed a consensus worth billions of dollars in a short period of time, driven by interests. Because of the fair token issuance method, no institutional investment, and merely token acquisition, it stays loyal to blockchain’s original objective.

The binding mechanism is the most lovely aspect. It’s the ideal solution for protocol liquidity issues. Not only does the protocol itself have sufficient liquidity, but all protocol members can benefit passively from the Treasure’s long-term growth.

The protocol can do a variety of things with the assets in its treasury, such as providing liquidity in other protocols to passively increase the treasury or investing in new protocols with the assets in SynAssets. We anticipate that in the future, the bond mechanism will be the default choice for most protocols. The Olympus network effect, we feel, is unstoppable.

Olympus has several accomplishments, yet it also has some evident flaws: The agreement is splintered. Each DAO may only anchor one asset; if another item has to be anchored, a new DAO must be created.

The consensus algorithm could be improved further. In order to create an explosive consensus, the invitation system should be added.

Meme coin’s deflation mechanism is a fantastic consensus aggregation process, but it has yet to be implemented.

We want to bring the optimized Olympus into the synthetic assets world to solve these difficulties, anchoring not only crypto assets such as DAI, BTC, ETH, but also real-world assets like as Apple and Tesla stocks, gold, futures, indices, etc. With the advent of SynAssets, we will enter the era of synthetic assets 2.0. We can reach more agreements and combine the cryptocurrency market with the traditional financial market.

As a result, we early consensus participants formed SynAssets.

Vision

In the blockchain world, we will establish a global exchange for synthetic assets. By bringing all humankind’s consensus together, such an exchange will achieve tremendous liquidity, no liquidation risk, ultimate decentralization, and anchoring with actual assets (including but not limited to stocks and gold).

Goal

SynAssets recently announced that it will first establish a powerful consensus synthetic asset system on Polygon. The consensus will benefit every consensus participant in the environment. SynAssets will be the global finance of the future.

Not just crypto currencies, but also equities, gold, and other traditional financial instruments will be included in SynAssets, which will be characterized by fairness, openness, security, and the absence of spokespersons or dictators.

ADVANTAGES

Fair Launch

SynAssets is a viable startup project that has received no venture capital funding. IDO issues the SAT (SynAssets Token) (Initial Decentralized offerings). The initial offering is open to the public. At the same time, it employs the DeFi approach, allowing people from all time zones and all around the world to participate (except for countries and regions which prohibit transactions of cryptocurrencies.)

Network of Consensus Aggregation

In his book Sapiens: A Brief History of Mankind, Israeli biologist Yuval Noah Harari explicitly stated that Homo sapiens might vanquish Neanderthals and construct a modern civilization by imagination-aggregating consensus.

We will deposit funds from the Treasury into the consensus aggregation pool using the Olympus method. As a result, we will promote more consensus participants and regularly create new consensus-based sAssets in response to market demand. Finally, thanks to the combined efforts of all consensus members, SynAssets will become the world’s greatest consensus network.

Mechanism of Deflation

Meme tokens have gained popularity around the world as a result of the implementation of deflationary and protocol-controlled liquidity mechanisms. That is why the Shibi miracle occurred. SynAssets will implement such a mature process in order to strengthen the consensus.

Every token issued by sAssets will be governed by Meme coin’s deflation mechanism. Every transaction will be subject to an 8% tax (specified parameter governance), which will be automatically deposited in the liquidity poor. Furthermore, LP will make an automatic donation to the Treasury.

Maximum Security

To increase SynAssets security, all SynAssets code will be accessible on GitHub, allowing all users to supervise and verify it, and professional auditors will be asked to undertake security audits. SynAssets will use a multi-signature wallet, with one key held by one chosen community administrator, one key held by either a member of the market team or a member of the finance team who is an early consensus member and one key held by the best community contributor. Later on, members of the community may propose adding more safe-keepers to the multi-signature wallet. There will never be any risk of rug pulls this way.

What is the significance of Polygon?

The Ethereum gas cost is prohibitively expensive for the vast majority of individuals. The transaction costs on the Polygon chain, on the other hand, are extremely low. Furthermore, the chain can offer users fast and safe transaction services.

The Polygon ecology has grown at a breakneck pace. The polygon chain TVL has been multiplied numerous times. Polygon chain Dapps are being built by an increasing number of talented developers. We believe that the Polygon ecology will continue to thrive.

Based on the Polygon chain, SynAssets will create a more robust decentralized consensus synthetic asset protocol.

Whitelist

SynAssets is a community-supported project, and we want everyone to have the opportunity to participate. All of the addresses on our whitelist will be chosen based on their Twitter followers, Discord members, community volunteers, and KOL consensus.

When will we go live?

We are currently working hard to expand SynAssets and increase our community.

We will share more information about the project’s development and presale/launch dates on our Discord, Twitter, and Medium channels.