Abstract. Projects in the decentralized finance space have been utilizing stake and proof-of-liquidity mechanics to develop a trustless decentralized market. However, the massive successes of these mechanics came with some new problems. Cryptobonds addresses these problems by offering a solution with ’tradeable stake positions’, requiring the bonding of Uniswap liquidity pairs with our ERC-20 token (SYNC).
The CryptoBond smart contract allows users to mine SYNC by staking a bond between SYNC and Uniswap liquidity provider tokens. CryptoBonds are a tradeable ERC-721 (NFT) with collectible attributes and SYNC-mining features. The CryptoBond smart contract automatically adjusts its SYNC mining rates once a day depending on the SYNC economy. SYNC rates decline as a result of net CryptoBond creation and increase when CryptoBonds cause new SYNC to be minted and issued to the CryptoBond holder (which may happen entirely at ‘maturity’ of the CryptoBond or on a more periodic schedule—see ”CryptoBond Types” below).
The SYNC Network works to bring stability and risk mitigation to decentralized finance by demonstrating a long-term backbone for liquidity pools, building a needed, stable foundation for the DeFi space in the long term and helping to foster a more robust decentralized market.
Sync Network