SYNC Token
SYNC is an ERC-20 token and NFT financial primitive that “bonds” or locks Uniswap liquidity pairs against SYNC tokens to create a tradable ERC-721 (NFT) called a “CryptoBond”.
CryptoBonds
In traditional finance, bonds are fixed income securities issued to investors that provide capital for loans that help finance projects. Bonds are essentially an “operating certificate” that details the principal payment amount, term and duration of the bond, and sets a fixed or variable interest rate payable to the investor.
The advantage of a bond is that you get back the principal amount plus interest. One of the key differences between DeFi Cryptobond and traditional one is that you can sell your Cryptobond at any time on NFT marketplaces.
SYNC Network incentivizes liquidity providers with high reward tradable NFTs called CryptoBonds for locking their liquidity pool tokens.
CryptoBond is a fully tradable NFT ERC-721 financial smart contract that captures liquidity on Uniswap. The network consists of two main smart contracts: the SYNC ERC-20 contract and the CryptoBond ERC-721 (NFT) contract. This is done by bonding (creating a CryptoBond) the tokens of the liquidity pair with the corresponding dollar value of SYNC tokens at the current proposed SYNC mining fee rate.
They are called 'bonds' because they are minted by 'bonding' tokens representing the creators' share of the decentralized liquidity pool (e.g. Uniswap 'liquidity-tokens') with an equal number of SYNCs until a certain pre-determined period of time (from 90 days to 3 years) expires (i.e. until 'maturity').
To create CryptoBonds, equal-value Uniswap Liquidity Provider Tokens (LPTs) from one of the whitelists are taken, combined (50/50 in value) with SYNC tokens, and locked into a tradable ERC-721 Non-Fungible Token (NFT).
You can use your CryptoBonds as collateral on SYNC Network's P2P lending platform, allowing you even more financial flexibility with your locked-in liquidity
Once a cryptobond is created, it cannot be altered, modified or canceled in any way.
NFT Collection Lists
NFT collection lists are a community initiative to improve the discoverability, reputation, and credibility of the NFT. Decentralized maintenance of lists with authoritative NFT collections provides users with a guide to help distinguish legitimate projects from malicious ones. Thus, an NFT project that is on multiple lists is more trustworthy than one that appears nowhere.
SYNC Network's NFT collection lists are a modified form of the Uniswap ERC20 token JSON schema standard that provides just that, created specifically for the needs of NFT projects. Projects can encode lists of authoritative tokens in machine-readable form, and anyone can compile such a list. These lists can then be imported into the NeonRain NFT marketplace, where end users benefit.
NeonRain NFT Marketplace
NeonRain is a decentralized social NFT marketplace owned by the community and open to anyone and everyone.
NeonRain brings social interaction to NFT marketplaces
- Follow users and projects to track their activity
- Communicate directly with other users on the marketplace
- Comment on any NFTs and collections
- Send updates visible only to specific NFT owners
NeonRain gives NFT artists what they deserve
- Personalize your profile page and highlight your favorite NFTs
- Increase your visibility using NeonRain's NFT launchpad RainDrops
- Create an additional income stream with NeonRain's RainMaker referral system
- Simply share your profile page and get rewarded every time an referred user makes a transaction
