Decentralized Finance, which is one use case of blockchain technology, is surrounded by several challenges, affecting the projects built to offer such services, thus posing limiting factors that hinder users from exploring the technology. For example, low security, problems of connectivity and interoperability, the high barrier of entry, and limited accessibility are some of the challenges projects face when it comes to DeFi. Synapse network is a project that aims to solve these limiting factors for the betterment of the DeFi world.
The Synapse Network built an ecosystem that provides clear solutions to all these limiting factors to kickstart this. The anti-bot solution ensures transactions are secured, and the oracle technology ensures off-chain data are unbreachable. It also has a cross-chain integration that enhances projects’ interoperability from different blockchains and brings everything to one platform.
Synapse Network is one of the biggest cross-chain launchpads in the crypto ecosphere. It also has its own Venture Capital, which supports other projects to collect capital and participate in projects as an early investor, a technology Labs services which offer one of the best anti-bot solutions available in the market, vesting and staking technology, web 3.0 apps, helps with smart contracts, coins, and NFTs. In general, it’s a big technology hub that meets the needs of investors, projects, and businesses.
Synapse Network delivers the vision of totally decentralized finance without the need for a 3rd party. It’s all around the Revolution as the main message of Synapse Network is “Join the financial revolution. #BeTheDeFiance”.
The Flexible Gamified Staking Solution
Synapse has taken a step forward to deliver valuable solutions to its community by releasing a new ‘Flexible Gamified Staking‘ solution. The primary assumption was to listen to the community’s feedback regarding how the staking process should appear. As such, the staking process will include long-term, multi-level rewards for stakers with increasing staking duration, an inflation protection mechanism, and time-based rewards focused on rewarding people who have been with us longer in the current staking.
In addition to this, various versions of staking called paths have been developed, and each path has its reward. Stable increase path in which there is a steady increase in APR with each higher level (5% each) and a moderate multiplier of allocation points, Fast rewards paths which gives higher %APR of rewards compared to other tracks, but decreasing with each successive level, Extra allocations path with its Fixed 5% APR and high allocation multiplier, Epic allocations path which gives no APR, maximizing allocation, No allocations path which yields Highest APR, no allocation, high unstake cost, long decay time and lastly the Periodic tier in which there is no claiming of prizes during staking, periodic stacking, e.g., for 30 days.
Each path has multiple levels that can be achieved each staking month, and each level also increases the bonuses the staker gets. It’s a win-win for all, as the longer you are with Synapse Network, the bigger and more exciting bonuses await you, and you also get to choose the best path based on your needs and preferences.
To prevent bypassing of the reward system, each stake is counted separately, and the period and rewards — both APRs and multipliers for allocation points — are applied to it separately. In other words, the user will be able to choose multiple paths in parallel and be on multiple levels with different numbers of tokens.
This staking solution favors our long-term stakers and newcomers to the ecosystem. For our long-term stakers, automatic additional opportunities have been prepared as they need not wait to reach a certain level of the selected path. This will be possible only once, and for each person, the achievable level will be calculated based on his activity in the old staking system. For example, if a user has been staking SNP for four months on BSC. Because of that, he will achieve the 4th level on the chosen path immediately.
New incentives have been designed for new investors for newcomers to the ecosystem. Anyone can jump on any staking level, assuming that the total unstake time will be equal to the time it takes to reach a given level. With this in mind, if a user commits to a long-term relationship with Synapse Network, he will be able to get high rewards right away. However, he will not have the ability to pull. For example, everyone will be able to jump on, e.g., level 6 of a path if they declare that they will block tokens for the time needed to reach level 6, i.e., Six months.
Synapse Network is on a mission to give users the best ways to explore and earn from decentralized finance.