Altcoin Alerts x Synchrony AMA Recap

Segment 1: Synchrony Introduction & Q/A with Altcoin Alerts Team

Altcoin Alerts: Hey guys

(roadmap)
  1. Simple — a user may simply input a wallet address they wish to follow or select a wallet from the Synchrony leaderboard the platform does the rest.
  2. Fast — utilizing Solana’s high throughput and transaction speed, copy-trading on Synchrony is executed with very little risk of price divergence of front-running.
    Our composable indices are modular, and dynamic; you can evaluate any set of on-chain instruments from tokens, to liquidity pools, to yield farms, and even NFTs. The indices are programmatically managed, rebalance automatically, and are algorithmically optimized. Through these indices we can offer single-click solutions for executing complex strategies with as little friction as possible. Also our indices are transparent, even analogous to smart contracts as an index’s calculation methodology can be scrutinized in the same way a smart contract’s code can.

Segment 2: Twitter Questions

Q1. Can you detail what will be the use cases of $SCY Token within the “SynchronyFi’’ Technology ecosystem ? How important will it be? If you would be so kind also explain to us how the supply distribution has been designed.?
https://twitter.com/amit_rnx/status/1475389617096380416
Maurice Chalfin: so token utility is pretty extensive:

  • users staking SCY receive a discount for platform services;
  • SCY may be used to pay fees across the platform;
  • SCY holders may use SCY to purchase premium features such as “banner space” and profile options;
  • SCY will be rewarded for staking and synchronisation
  • SCY holders may stake SCY on wallets or indices as a form of “insurance”/“validation”, this grants the staker a share of the fees generated by the wallet/index10;
  • SCY holders may participate in limited governance of the Synchrony platform; and
  • data for indices is provided by ecosystem participants voted on by the Synchrony DAO. Data providers must meet a minimum capital requirement, decided on by the DAO, of staked SCY tokens. These tokens go towards a platform insurance pool. Providers are granted an equal share of all fees generated by Synchrony composed indices.
  • index token creation and redemption may only be performed by authorized participants. Any platform participant may become an authorized participant by staking a certain amount of SCY the exact amount being decided by the Synchrony DAO.
supply distribution 👆

Segment 3: Synchrony Q/A with Community

Q1. Almost 80% investors have just focused on price of token in short term instead of understanding the real value of the project. Can you tell us on motivations and benefits for investors to hold your token in long term?
Souly: We have strategically chosen our partners for both global reach and deep expertise. Our partners bring deep blockchain & defi experience to help advise and support us on our journey. We have advisors with storied experience in crypto, defi, blockchain, tradfi, digital marketing, A.I., analytics, data science, networking and ecosystem connections.
They have been pivotal in our development thus far, and we would not be where we are today without them (Altcoin Alerts included!). They are also assisting us in targeted marketing efforts to best serve global communities.
We have also set up local community channels.

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Altcoin Alerts

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