On $ETH, lending protocols such as $AAVE - 5.35B $COMP $JST etc. dominate with a majority of market share.
However, @zksync has been lacking in #lending projects, which is a critical #DeFi section.
I found @SyncBankxyz, which was created specifically for #zkSync
A thread 🧵👇
However, @zksync has been lacking in #lending projects, which is a critical #DeFi section.
I found @SyncBankxyz, which was created specifically for #zkSync
A thread 🧵👇
1⃣ What is @SyncBankxyz?
🔹A non-custodial lending platform that empowers users with full control over their funds by utilizing @zksync
🔹A cutting-edge lending protocol aiming to achieve the highest TVL on #zkSyncEra
🔹A non-custodial lending platform that empowers users with full control over their funds by utilizing @zksync
🔹A cutting-edge lending protocol aiming to achieve the highest TVL on #zkSyncEra
2⃣ What's so special about @SyncBankxyz?
🔹Auto buyback of $SCB tokens from accumulated fees
🔹Easy staking of $SCB tokens on a user-friendly UI/UX
🔹Partnership with @izumi_Finance for automatic swaps & dual pools
🔹Auto buyback of $SCB tokens from accumulated fees
🔹Easy staking of $SCB tokens on a user-friendly UI/UX
🔹Partnership with @izumi_Finance for automatic swaps & dual pools
🔹 Yield Boosting Mechanism
🔹 Revenue Sharing Model
🔹 Exciting meme token #BankerPepeV2 is already listed
🔹 Deep connections with China & Korea projects & communities
🔹 Revenue Sharing Model
🔹 Exciting meme token #BankerPepeV2 is already listed
🔹 Deep connections with China & Korea projects & communities
3⃣ Auto Buyback Mechanism
🔹 The Auto Buyback mechanism in the $SCB project stands out due to its unique combination of multiple revenue sources & efficient use of fees
🔹 The Auto Buyback mechanism in the $SCB project stands out due to its unique combination of multiple revenue sources & efficient use of fees
🔹 Auto buyback includes:
▪️ 3 sources of revenue:
• interest rate fees
• liquidation fees
• revenue share claim fees
→ Ensure a steady flow of income, providing 80% of these fees to $SCB stakers
▪️ 3 sources of revenue:
• interest rate fees
• liquidation fees
• revenue share claim fees
→ Ensure a steady flow of income, providing 80% of these fees to $SCB stakers
🔹 Fees are accumulated in ETH and USDC but can only be claimed in $SBC with a 5% fee
🔹 Accumulated #ETH & $USDC are used to buy $SBC from the market & distribute to stakers upon rev share claims
🔹 A 5% fee is charged during claims, which is also used for further $SBC buyback
🔹 Accumulated #ETH & $USDC are used to buy $SBC from the market & distribute to stakers upon rev share claims
🔹 A 5% fee is charged during claims, which is also used for further $SBC buyback
🔹 As the protocol's TVL grows, this mechanism gains more momentum → higher amounts of buyback pressure
🔹 The project's estimation shows that once the TVL reaches $10M, approximately $10,000 worth of buyback pressure can be generated from fees alone
🔹 The project's estimation shows that once the TVL reaches $10M, approximately $10,000 worth of buyback pressure can be generated from fees alone
🔹 Given that the lending protocols inherently have no impermanent loss (IL) risk
🔹 It's likely that the TVL could reach even higher levels
🔹 It's likely that the TVL could reach even higher levels
5⃣ Tokenomics
▪️ Name: $SCB(SyncBank token)
▪️ Ticker: $SCB
▪️ Chain: @zksync
▪️ Max supply: 100,000,000 $SCB
▪️ Name: $SCB(SyncBank token)
▪️ Ticker: $SCB
▪️ Chain: @zksync
▪️ Max supply: 100,000,000 $SCB
🔹 Token Allocation
▪️ Presale (20%): 80% TGE; 20% vesting after 1 month
▪️ Liquidity Incentives (42.5%): Distributed over the next 3y
▪️ Initial Liquidity (7.5%): 50% TGE, linearly vested over the next 2 years
▪️ Presale (20%): 80% TGE; 20% vesting after 1 month
▪️ Liquidity Incentives (42.5%): Distributed over the next 3y
▪️ Initial Liquidity (7.5%): 50% TGE, linearly vested over the next 2 years
▪️ Development Fund (10%): 3 months cliff followed by an 18-month linear vesting period
▪️ Ecosystem Fund (10%): 20% TGE, 6-month linear vesting period
▪️ Treasury (10%): Same release schedule as the Ecosystem Fund
▪️ Ecosystem Fund (10%): 20% TGE, 6-month linear vesting period
▪️ Treasury (10%): Same release schedule as the Ecosystem Fund
6⃣ $SCB Rewards Allocation
🔹 The rewards allocation is divided into two categories:
▪️ Lending
• 90% (37,800,000) of the allocated Liquidity Incentive tokens go towards rewarding users who supply & borrow funds
🔹 The rewards allocation is divided into two categories:
▪️ Lending
• 90% (37,800,000) of the allocated Liquidity Incentive tokens go towards rewarding users who supply & borrow funds
▪️ Borrowing
• The remaining 10% (4,200,000) used to reward users who borrow $SCB tokens
• This allocation has a 100% rewards distribution ratio for SCB borrowing
• The remaining 10% (4,200,000) used to reward users who borrow $SCB tokens
• This allocation has a 100% rewards distribution ratio for SCB borrowing
Token emissions:
🔹 $SCB emissions based on user's Score (xSCB stake).
▪️ Example: A user with a 10% Score and a weekly emission of 100,000 SCB would receive 10,000 SCB as a reward.
🔹 Incentivizes active participation in the eco and rewards those who contribute more.
🔹 $SCB emissions based on user's Score (xSCB stake).
▪️ Example: A user with a 10% Score and a weekly emission of 100,000 SCB would receive 10,000 SCB as a reward.
🔹 Incentivizes active participation in the eco and rewards those who contribute more.
@Syncbankxyz partnered with Izumi finance to create a feature that swaps profits from ETH and USDC pools into SCB with a 5% fee.
After IDO, SCB tokens will be listed in a dual pool on Izumi finance, allowing staking and rewarding izi and SCB tokens simultaneously.
After IDO, SCB tokens will be listed in a dual pool on Izumi finance, allowing staking and rewarding izi and SCB tokens simultaneously.
9⃣ That's a wrap up!
You can participate in the 2nd WL #Giveaway to win a better entry if you really care about @SyncBankxyz
Find more info here:
Thanks for reading, like & follow me on Telegram for more analysis like this: t.me
You can participate in the 2nd WL #Giveaway to win a better entry if you really care about @SyncBankxyz
Find more info here:
Thanks for reading, like & follow me on Telegram for more analysis like this: t.me
Follow @Tanaka_L2 & @SyncBankxyz
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@ScottGShore
@BraverCrypto
@CryptoLuga
@ElCryptoDoc
@Mikee_93
@leilanibabiez
@SherifDefi
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also follow these chads:
@ScottGShore
@BraverCrypto
@CryptoLuga
@ElCryptoDoc
@Mikee_93
@leilanibabiez
@SherifDefi
@0xBispo
@CRyptOracl3
@Tanaka_L2
@MoonKing___
@Kaffchad
@Karamata22
@CryptoChads_OG
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