BitWell AMA | Introduction to Sypool Protocol: How to Bring Innovative Synthetic Asset Management Tools for DeFi
On March 12th, Jackson, the Co-founder of Sypool Protocol, visited the BitWell community and brought a wonderful sharing with the theme “Introduction to Sypool Protocol: How to Bring Innovative Synthetic Asset Management Tools for DeFi”.
The following is a review of the full content of this community sharing:
Moderator: Catherine, VP of BitWell Overseas Market
Cathy: Could you please give us a brief introduction of Sypool and what problems it intends to solve?
Sypool is an asset management protocol built on Solana, aiming at providing the top-notch investment strategies and asset management tools to our users, helping them managing their wealth in crypto world like traditional funds.
In some aspects, Sypool is more than a blockchain fund, because our fund shares are also a kind of token. Therefore, they can do almost everything other tokens can do.
We have currently designed 6 strategic pools which will be deployed on mainnet step by step, if you are interested in diversifying your wealth position with the help of a professional crypto hedge fund on chain, look forward to our mainnet.
We believe everyone, not only the rich, can get access to top-level financial services.
Cathy: What are the keywords you would use to summarize Sypool’s achievements in 2021? And what is Sypool’s roadmap in 2022?
Keywords: Extraordinary, Diversification.
We’ve launched mainnet beta testing 3 times, and listed our exchanges on platforms like DEX and CEX. Also, new version of UI design is another milestone regarding what we’ve done so far in 2022.
- New version of UI generated by revision.
- Different quantitative strategies introduced into our pools.
- We will launch Mainnet before the end of Q1 2022.
- Also, quantitative Strategy Pool, LP Token Staking, Collateral For Stable Coin, Derivatives and NFT Rewards will be achieved in the second quarter of 2022.
Cathy: Could you elaborate the killer features of Sypool and how it can benefit users?
The killer feature of Sypool is the quantitative trading on chain. Basically, what quant trading does is to analyze a large number of different technical indicators to find out current market trends, and to make directional investments based on the trend.
Another advantage of quantitative trading on chain is that we have both long & short strategies in our pool so that whether we’re in bull market or bear market, the risk of assets in pools, to some extent, will be minimized.
Cathy: Could you give us an insight into Sypool’s tokenomics?
Sypool has “Bi-token” System — Governance Token (SYP) and Each Pool’s Share Token (SAP) where SYP provides staking gains, voting power and community rewards while SAP tokenizes fund shares, representing partial ownership of s single pool.
A total supply of 1,000,000,000 SYP will be minted and distributed according to the following distribution model: 50%farming, 20%Team, 17%Treasury, 10%Investors, 3%Early minter. It has 1:1 voting right in governance, and one can vote by oneself or by others.
When each SAP is created, the manager will deposit a certain amount of tokens and decide how many SAP tokens are minted and returned to the manager.Therefore, the current value of each SAP token is determined. Meanwhile, a whitelist of token allowable for trading is determined by the manager. Also, any changes about the list needs to be voted by the SAP token holders.
Cathy: Does Sypool have any exciting initiatives that are planned in the pipeline?
The mainnet launch of SAP will be the most exciting event in the pipeline. After that, we can apply quantitative trading strategy to SAP Pools so that SPA holders can be benefited from getting diverse portfolio.
Moreover, Sypool is supporting our partnership program — Metabot2150 in our eco-system gradually. Investors who holds SYP or SAP in our block-chain pools can get the priority and benefits (free whitelist of NFT releasing event, shareholder of governance tokens) from Metabot2150.
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