Synthetify VC Pool

  • The pool will open at 20:00 June 28th (UTC +8) and will close at 21:00 June 28th (UTC+8)
  • The total allocation of SNY tokens is 300,000. The pool will swap the USDC for SNY at 1.35 USDC.
  • A maximum of 405,000 USDC can be deposited into the pool, once the pool reaches the limit, users won’t be able to deposit any more.
  • During the 1-hour time period, people will be able to deposit USDC + FIDA in the pool with a 15:1 ratio. Eg. To buy 150 USDC of SNY, you will need to put in 150 USDC + 10 FIDA
  • All FIDA deposited in the pool will be burned.
  • The deposit limit is max 450 USDC + 30 FIDA
  • After successfully depositing in the pool, users will receive a pool token: SNYPOOL
  • SNY tokens purchased by the pool are unlocked, however, the pool will remain locked for 1 year, i.e participants will not be able to withdraw from the pool for 1 year. SNYPOOL is unlocked and can be transferred/ traded freely while the pool is locked.
  • Fees: 0.5% (charged in pool token SNYPOOL at creation and redemption)
  • Alice deposits 450 USDC + 30 FIDA into the pool during the window period
  • she would receive 447.75 SNYPOOL tokens to represent her ownership of the underlying (after 0.5% fees being charged) immediately
  • As soon as she receives the SNYPOOL token, she can start trading it on the market.
  • After one year, when she redeems SNY tokens, another 0.5% charge will apply, and she would redeem 330 SNY tokens
  1. Collateral for creation of synthetic assets on Synthetify.
  2. Discount for performing swaps on Synthetify.
  3. In the future SNY will represent vote in governance decisions.

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