About Syrup Finance Coin
Syrup Finance Coin light of recent events, the majority of cryptocurrency users may now realize how unreliable and hostile centralized exchanges can be. However, not everything is negative. The outflow of users from exchanges and the development of decentralized finance are improving by the day, meaning more users are now relying on self-security instead of handing over their keys to shady entities.
Self-custody, is the ‘key’ to decentralization as it allows to never rely on centralized intermediaries and manage your own assets. Self-custody also comes with security and privacy, as your coins stay in your wallet and are not exposed to centralized exchanges or other third parties that may be vulnerable to hacking or plain bad management that works against their clients.
Syrup Finance Coin Point Table
|Coin Name||Syrup Finance Coin|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
What is Syrup Finance?
Syrup is a fully decentralized spot and perpetual exchange that allows users to open long and short positions with up to 100x leverage (scalable depending on available liquidity) without registering or relinquishing custody of their assets. Syrup’s ecosystem revolves around expansion and decentralization. Everything is public for anyone to see and verify, with the ultimate goal of it becoming a one-stop shop consisting of advanced trading tools and instruments accessible to any type of trader, whether pro or novice.
BSC ranks high when it comes to Total Value Locked and Daily Trading Volume and offers very low transaction fees, which makes it an ideal platform Syrup’s humble beginnings. Despite the number of users, however, there is a noticeable absence of options and derivatives exchanges on BSC. BSC may be the first, but it certainly won’t be the last chain Syrup launches on. Backed by a solid user base that shares the vision of the project, they will launch on Polygon and open the DAO to decide on the next chain.
Flash Loan Attack Mitigations
Opening and closing of positions as well as swaps, minting and redeeming of SLP are settled at the oracle price covered in the Price Feeds section since these prices are not dependent on pool composition or parameters like long / short ratios, so a flash loan would not have an impact on these functions.
The dynamic fees for swaps are dependent on pool composition, however, this does not lead to positive slippage so the maximum benefit from a flash loan would be a zero fee swap which adjusts pool composition towards the desired token weights.
Staking & Rewards
30% of fees generated from swaps and leverage trading are converted to BNB and distributed to staked SRX tokens. Note that the fees distributed are based on the number after deducting referral rewards and the network costs of keepers, keeper costs are usually around 1% of the total fees. Note that the balance for this will return your total staked amount including any esSRX tokens and Multiplier Points. Staked SRX receives three types of rewards:
- Escrowed SRX
- Multiplier Points
- BNB Rewards
Why Choose Syrup Finance Coin?
Syrup’s end goal is to become a fully decentralized hub containing all tools necessary for someone to bring their trading off of centralized exchanges. To do so, making a switch to a DAO Governance model where all decisions regarding the ecosystem will be made by those who are passionate about the project.
After reaching quorum on the forum, a member of the core Syrup team will post the SIP to Snapshot.org vote where SRX token holders can vote. This vote usually lasts three days, however this period can be shortened to 24 hours in urgent cases. Proposed SIPs require a simple majority (50% +1) to pass.
The exchange will feature a brand new SRP token that will be distributed in 5 tiers to all SRX, SLP holders and wallet addresses that have interacted with the Syrup ecosystem within a certain time frame. The distribution model will be centered around liquidity farming rounds and protocol interactions, however exact distribution details cannot be revealed yet.
Where Can You Buy Syrup Finance Coin?
Tokens Can Be Purchased On Most Exchanges. One Choice To Trade Is On PancakeSwap (V2), As It Has The Highest WBNB/SRX.e Trading Volume, $8,947 As Of February 2021. Next is OKEx, With A Trading Volume Of $6,180,82. Other option To Trade Include WBNB/SRX And Huobi Global. Of Course, It Is Important To Note That Investing In Cryptocurrency Comes With A Risk, Just Like Any Other Investment Opportunity.
Syrup Finance Coin Supported Wallet
Several Browser And Mobile App Based Wallets Support Syrup Finance. Here Is Example Of Wallet Which Syrup Finance – Trust Wallet For Hardware Ledger Nano.
FAQ Of Syrup Finance Coin
Where I Can Find Syrup Finance Coin Whitepaper?
You Can Find Syrup Finance Whitepaper By Clicking Here.
Where I Can Buy/Sell Balancer Token?
You Can Buy or Sell Balancer Token On Some Popular Exchange For Example – PancakeSwap (V2).
What is Circulating Supply Of Balancer Token?
Circulating Supply Of Balancer Token Is N/A.