Buy Sync Network (SYNC)
What is Sync Network?
Sync Network (SYNC) is a decentralized cryptocurrency platform that combines elements of Decentralized Finance (DeFi) with Non-Fungible Tokens (NFTs) through the creation of tradable, time-locked liquidity known as CryptoBonds. The primary aim of the platform is to strengthen crypto projects by incentivizing long-term liquidity providers with SYNC tokens, thereby providing stability and mitigating risks in DeFi markets.
How does Sync Network work?
Sync Network operates on a Layer 2 platform that allows users to create and manage CryptoBonds. These CryptoBonds are tradable NFTs that store time-locked liquidity, typically involving Uniswap liquidity-pair tokens. The platform provides self-correcting interest rates on these bonds based on various factors such as bond duration and the amount of bonded liquidity. This mechanism encourages long-term staking and aims to reduce the volatility associated with liquidity in DeFi.
What are the potential use cases for Sync Network?
Sync Network has several potential use cases, including:
- DeFi Stability: By providing long-term liquidity to decentralized exchange protocols, Sync Network aims to mitigate volatility and enhance stability in DeFi markets.
- NFT Yield Farming: Users can lock Uniswap liquidity in CryptoBonds to earn interest in SYNC tokens, presenting an innovative form of yield farming.
- Peer-to-Peer Lending: CryptoBonds can be used as collateral in peer-to-peer lending scenarios, offering dynamic loan durations and interest rates.
- NFT Marketplaces: CryptoBonds are tradeable on NFT marketplaces such as OpenSea and Rarible, opening up opportunities for speculation and investment in a new financial asset class.
What is the history of Sync Network?
The specific details regarding the founding team or origin story of Sync Network are not provided in the available sources. However, it is known for developing a Layer 2 platform to enhance DeFi stability through CryptoBonds. The project employs a Proof of Stake (PoS) consensus mechanism and integrates with the Ethereum blockchain to leverage its DeFi and NFT functionalities. Sync Network has made notable progress by allowing its CryptoBonds to be traded on major NFT marketplaces, thus expanding its market presence and usability.
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Frequently Asked Questions (FAQs)
What is the current price of Sync Network (SYNC)?
The Sync Network price is $0.00353409 AUD, representing a 0% from the day prior.
Where is the best place to buy Sync Network (SYNC) in Australia?
The best place to buy Sync Network (SYNC) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Sync Network (SYNC) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Sync Network (SYNC)?
The trading volume of Sync Network (SYNC) is $61.0K AUD in the last 24hrs, representing a 0% from the day prior.
How can I buy Sync Network (SYNC)?
Sync Network (SYNC) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Sync Network (SYNC)?
The current market cap of Sync Network (SYNC) is $470.6K AUD.
Can I convert Sync Network (SYNC) to cash?
Yes - With Coinstash you can convert your Sync Network (SYNC) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Sync Network (SYNC) are there?
The current circulating supply of Sync Network (SYNC) is 161.8M.
Is Coinstash a safe place to buy Sync Network (SYNC) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Sync Network (SYNC) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.