PolygonDaily.com hosts Sypool Protocol: a synthetic asset management protocol built on Solana.
BSCdaily – Admin: Hello and welcome to BSC Daily, @jackson_Sypool!
BSCdaily – Admin: Nice to have you here with us today. How is your day?
jackson: I’m great. Thank you. How are you?
BSCdaily – Admin: Happy to hear! Ready to start our AMA? 🎉
Q1: Welcome to SolanaDaily Community. Can you please introduce yourself and also the Sypool Protocol?
jackson: Hello everyone, I’m Jackson, co-founder of Sypool.
I’m also the founder of quantum technologies, which manages more than $300 million of quantitative funds. With rich experience in the financial industry and blockchain industry, the team and I decided to found an asset management protocol where we can manage users’ wealth on-chain.
Let’s talk about Sypool. Sypool is an asset management protocol on Solana. This is another innovation that has migrated finance from off-chain to on-chain. This idea was inspired by both off-chain fund companies and packaged asset derivatives.
On one hand, we tokenize fund shares. On the other hand, a share token actually represents a small part of a multi-token pool, thus providing the scarce liquidity for the cryptocurrency market.
Therefore, you can consider it as a fund share, or you can consider it as a token pool asset, as well as other new uses that may appear in the future.
BSCdaily – Admin: Interesting!
Q2: So, can you please tell us the special features and advantages of Sypool Protocol?
jackson: Okay. The main advantages of Solana are fast and cheap. With those, Sypool can offer professional financial services to investors the same as we do in traditional ways.
First, we provide innovative products. There will be four main products in the early stage, which are Index-tracking SAP (Synthetic Asset Pool), Trader-based SAP, Structured Yield Fund and Assets-based quantitative trading SAP. Also, more functions will be developed in the future.
Second, we are a professional team. Our members had worked in well-known hedge funds and delivered some very great performances in quantitative trading. We have accustomed those strategies to crypto market.
As for technical members, we have designed several projects providing social network and startup tools aggregators. And our teammates have worked on a neuromorphic chip program with Chinese Academy of Science.
Third, we have a unique farming mechanism. It’s a diminishing mechanism, in the first few years, the releasing speed is accelerated but after that the speed will fluctuate considering the staking volume and the circulating supply.
Fourth, we are investor-friendly. Each pool will be audited strictly to prevent managers from misconduct and there is an insurance treasury to compensate investors from managers’ misconduct and hacker attack.
More details, you could check: https://medium.com/@SYP_Protocol/why-sypool-7a4c66072892
Q3: What are the main benefits you offer to long term holders?
jackson: Obviously, they will benefit from price rising and staking rewards.
They can also use their SYP to mint SAP to enjoy higher profits (with higher risks) than staking.
In our Sypool DAO, the number of staked SYP represents the voting weight.
Q4: We would like to know more about Sypool Protocol. Can you share with us your “Bi – token” system? And what are some use cases?
jackson: We have two kinds of tokens in Sypool. One is our governance token, SYP. It’s used for voting, farming, minting SAP, trading and salaries & rewards.
The other one is our shared token, SAP. It represents an asset pool, the same as the fund share in the traditional financial market. You can mint/buy and hodl, it can be traded in the secondary market.
If you provide liquidity for SAP, you can stake the LP token to get reward. In the future, SAP can be used as collateral. Also futures and options will be launched for SAP.
Q5: And, do you have any plans to increase the value of Token & attract Investors to invest?
jackson: Sure. The main plan is to work very hard on developing our project. We want to attract investors via the high quality of our project. 😁
Also, there is a deflation mechanism in our protocol. We will use the transaction fee to buy back our token in the secondary market and burn them. That will be healthy for the token price.
Last but not least, we will use some marketing strategies to arouse the interest of investors, such as organize activities on discord and do some promotion.
Q6: Can you talk about your important partners? And any new cooperation we can expect?
jackson: Investors: NGC Ventures, Bella Protocol, Tensor Investment Corporation, Chemix Protocol, Solar Eco Fund, Evernew Capital, BlockWall Capital, Wootrade, Kronos Research
Partners: Pyth Network, Parrot Protocol, LIQ Protocol
In the future, some well-known crypto hedge funds will take the position of fund managers in Sypool. Also, Sypool will have some deep cooperation with both Dex and Cex.
Q7: What’s next for Sypool Protocol?
jackson: We are in the second round of private testing, a new function, dashboard will launch in the testnst. After private testing, testnet will be online for users to test. Also, we will host an interesting contest at that time.
To tell you a little bit. We are planning some NFT events with surprising rewards.
About IDO, we haven’t decided the exact time but it’s on the plan.
BSCdaily – Admin: Great, I hope you would follow and complete your plans as soon as possible ^^
Q8: Finally, where can we find out more about Sypool Protocol?
jackson:(1) Official website: http://sypool.io/
(2) Telegram: https://t.me/sypool_protocol
(3) Twitter: https://twitter.com/SYP_Protocol
(4) Medium: https://medium.com/@SYP_Protocol
(5) Discord: https://discord.gg/sypoolprotocol
BSCdaily – Admin: Time for wrapping up, any last words you would like to say to our community, @jackson_Sypool?
jackson: It was hard to choose only five among so many questions. Thanks everyone.
BSCdaily – Admin: It was a pleasure having you @jackson_Sypool 🙂
Jackson: Stay tuned for more updates in the future. If you have more questions, feel free to ask in our telegram group and Discord.
BSCdaily – Admin: Thank you so much for spending time with our community & all the very best for Sypool Protocol 🚀