Get started with Synbit quickly and look for profit opportunities in synthetic assets
As a recent hot project at HECO, many of my friends have probably heard of Synbit, the synthetic asset protocol. Synbit Synthetic Asset Protocol can be used to simulate other financial instruments, allowing users to access a variety of different assets without having to hold onto the underlying assets. Regarding the deep principles and the economic value of synthetic assets, interested friends can use the Internet to deepen their understanding. This article will not repeat it. Here we are mainly addressing two issues——
First, some can't buy or configure a higher asset threshold, how should we Synbit them to invest it?
1. First you need Synbit to support synthesis of your target assets.
Synbit currently supports 4 categories of synthetic assets, legal currencies yUSD, yEUR, yKRW; synthesis of commodity gold, synthetic silver crude oil derivatives; encryption currencies yBTC, yETH, yBNB; and reverse encryption currency (the price of the underlying asset moves in reverse), etc., support for more asset types will be added in the future, such as WTI crude, stocks, etc.
In theory, synbit can synthesize and trade all assets with transaction prices and transaction terms. In the future, synbit will continue to expand its target asset types according to community needs, and ultimately achieve its "synthesize it all" goal.
2. In the case of Synbit to support suitable synthetic assets, we also need to have Synbit support guarantees (Synbit is the world's first multi-asset supported synthetic assets protocol, currently support mortgages Synbit HT, MDX, DAI, SYN, USDT, HUSD , etc., in the future, asset types will be added according to community votes), and collateral will be mortgaged to Synbit to mint yUSD, which is the platform stable currency of the Synbit protocol.
3. Finally, we use the Synbit trading function to trade the platform's stable currency yUSD into a target synthetic asset, so that we can easily hold the asset position. The process is smooth and efficient with no slippage, and the user experience is excellent. When the asset price beats the average, we can make a profit on it.
Summary: The user pawns collateral assets supported by Synbit (HT, MDX, DAI, SYN, USDT, HUSD, etc.) into the platform to enter yUSD. Then use yUSD to trade the assets you want to configure on the Synbit trading interface (such as synthetic precious metals, crude oil derivatives, inverted cryptocurrencies, etc.)
2. As an independent individual investor, what are the ways to make a profit on the Synbit platform?
1. The investment target game
Referring to the previous answer, when the rate of appreciation of our synthetic assets exceeds the average value of all assets in the debt pool, we will benefit from this correct investment choice.
2. SYN issuance reward
As Synbit's Platform currency, SYN is also an important part of our profitability. All the SYN prizes we can get are divided into the following categories:
(1) Mortgage rewards:
If you use Synbit-backed collateral to participate in the mortgage and maintain mortgage status, you will be eligible to apply for a mortgage reward next week after the mortgage begins (the application period lasts one week, and unclaimed ones will become invalid). When we burn all the debt to cancel the mortgage, we lose our eligibility to continue receiving mortgage rewards.
A source of mortgage reward tokens is provided by SYN which are newly issued annually, accounting for 62% of this year's issuance. The mortgage incentive will Synbit hosting 90 days, as long as the casting of the hosting can be used as collateral, but you can not make transfers.
(2) Special gifts:
In the early days of Synbit launch, users who used SYN as collateral to participate in KPR were able to get additional incentives. In addition to the regular mortgage rewards mentioned above, Synbit will also issue additional SYNs as special gifts, and the rules for receiving them are consistent with mortgage rewards.
The source of the custom reward token is the portion of the pre-mined token that is used for marketing. Special prizes will also be hosted on Synbit for 90 days. During the escrow period, the prize can be used to make a mortgage, but is not transferable.
(3) Prizes for holding currency:
For users holding SYN tokens Synbit provides a stable way to earn SYN tokens.
If you actively lock your SYN token into the holding pool, you will be eligible to apply for holding token rewards from the following week (the claim period lasts one week, and will not be claimed invalid if it expires). When we unlock all locked SYNs, we will lose our eligibility to continue receiving token rewards.
Source of token rewards is provided by SYN which are newly issued annually, accounting for 2% of this year's issuance. Currency prizes do not require custody and will be accepted in the wallet immediately.
(4) Transaction rewards:
By trading between synthetic assets on the Synbit trading interface, you will be eligible to receive a transaction reward in the next week (the claim period lasts a week, and unclaimed ones will be canceled).
Source of reward tokens is provided by SYN which are newly issued annually, accounting for 10% of this year's issuance. Transaction rewards do not require escrow and will be received in the wallet immediately.
(5) External LP Rewards:
We provide liquidity for yUSD- related trade pairs on third party DEX via Synbit's LP pass page, and you will be eligible to apply for external LP rewards within the next week (claims period lasts for a week, and unclaimed will be canceled). When we stop providing liquidity, we will lose eligibility to continue receiving external LP rewards.
External source LP reward tokens are provided by SYN which are newly issued annually, accounting for 16% of this year's issuance. The mortgage incentive will Synbit hosting 90 days, as long as the casting of the hosting can be used as collateral, but you can not make transfers.
3. Transaction fee fees
Transactions between synthetic assets on the Synbit trading platform will deduct 3 ‰ of each transaction fee. 80% of this transaction fee (which will be reduced to 60% later) will be awarded to all borrowers in the form of yUSD. Some prizes are given out once a week, and you will also need to apply manually.
In short, we can make a profit on the right investment by participating in the investment target game; We can also actively participate in any or all of the Synbit ecosystem links for which we can earn rewards (guarantees, transactions, currency holdings, external liquidity, etc.) to get the appropriate rewards.
related links
Official site: https://www.synbit.io
Twitter: https://twitter.com/SynbitProtocol
Telegram : https://t.me/Synbit
GitHub: https://github.com/Synbitio
Discord: https://discord.gg/MycR8DK