By
Kseniia Klichova
June 28th, 2022
Synapse Network is a cross-chain launchpad protocol that permits different crypto projects to source capital through crowdfunding via its innovative and fair launchpad solution.
Amongst the cryptocurrency-focused platforms looking to help re-establish the true tenets of Decentralized Finance (DeFi) is the Synapse Network, a one-stop launchpad solution that offers innovative gamified staking services.
With the continuous growth in the DeFi world, a number of startups are being launched on a daily basis, with each claiming to have unique product offerings for investors. While the Synapse Network comes off as one of these key startups, its proposed product offering encompasses both retail and institutional investors.
According to a written explanation of its services shared with Coinspeaker, the Synapse Network has three major product categorizations and this includes the Launchpad, VC Fund, and Technology Labs with the offerings targeting retail investors from traditional finance and corporate investors alike.
The Synapse Network makes it possible for anyone to invest in high yield DeFi products using their crypto holdings or through their Revolut cards, an option made possible with the integration with Ramp. Synapse Network also will help new crypto projects raise funds, integrate staking solutions with a number of other projects benefiting from the platform’s VC fund.
Synapse Network Products and Services
Synapse Network is a cross-chain launchpad protocol that permits different crypto projects to source capital through crowdfunding via its innovative and fair launchpad solution. The platform also brandishes a Venture Capital arm through which it has invested in over 80 cryptocurrency startups.
It is common knowledge that a large number of public offerings are often hijacked by bots or other systems that cheat the average investor. In its expertise as a predominantly tech hub, the Synapse Network has hence developed a sophisticated “Antibot” solution that generally helps in curbing challenges often associated with potential sandwich attacks as well as listings.
Antibot is essentially a reliable method of securing Synapse Network and its partners from bot influence by integrating various creative approaches. The innovative design and execution of this solution is merely the beginning as it is additionally properly configured so that using Antibot does not make life difficult for users who wish to purchase, sell, or just swap tokens on a regular basis.
In a bid to extend its value offering to its diverse and growing ecosystem, Synapse Network has floated the Gamified Staking product. The platform listened to the needs of its community to develop this product and per the demands of its users, Synapse Network now offers long-term, multi-level rewarding stackers with increasing stacking time, as well as rewarding its users that have been utilizing the staking feature for some time now.
The design of the staking feature is also centered on counteracting inflation while giving its users adequate rewards depending on the time they commit to the staking program.
Interested investors can be a part of the Gamified Staking feature by embracing any of the designated paths including the high APR path in which investors maximizes APR at the expense of allocation size, a high allocations path through which users maximizes allocation at the expense of APR, a balanced path where investors increase both APR and allocation size, and an only allocations path that permits stakers to gain 0% APR and high allocations.
As detailed by Synapse Network, each staking path will have multiple levels that can be achieved each staking month, and each level will increase the bonuses the staker gets over time.
Counteracting Inflation: SNP Token Burn Event
In a bid to entrench and distribute value to its community members across the board, the Synapse Network has effected one of the industry’s largest token burn events.
As shared with Coinspeaker, the platform burnt approximately 60% of its total token supply including all of its research tokens: 125,000,000 SNP, all reserve tokens: 65,000,000 SNP, most team tokens: 40,000,000 SNP, half advisory tokens: 15,000,000 SNP, most exchange tokens: 20,000,000 SNP, most marketing tokens: 35,000,000 SNP.
While the token burn event will help cushion inflation by increasing demand amidst a relatively short supply, the price of the SNP token is billed to grow over time. With a growing token under its management, the host of other products and services Synapse Network is known for will be further complemented across the board.
