Introduction of each SAP on testnet

Hello community. We finally deliver our testnet. And we are inviting our community members to publicly test our Sypool dapp from 19 Aug to 30 Aug.

Prepare your Sollet, and get involved in the first round of public test. We have prepared 50,000 SYP as rewards. Consider it as a family gift. For those who are better-performed and luckier, go get the winner prize. Meanwhile, we are more than welcoming bug reports and applicable proposals. Once accepted, we also reward the contributor.

Once the testnet news was spread out, we have received thousands of applications for this event. It seems lots of our community members are aiming the throne of our competition.

So you might need to pay attention to this medium, because we are introducing the 6 SAP (4 categories, 6 SAP at all) debut in our competition. They could be used to build your portfolio and win the game.

Be your own FOF manager and may POPO🐳 be with you.

💹Category1: Index tracking, 2 SAP

Top Crypto Index

Sypool’s Top Crypto Index is based on the top 5 crypto assets’ prices fed by Pyth. The weights are calculated by the circulating market cap on June 2, 2021 (Our ‘Hello,world’ twitter day).

During the testnet competition period, the adjustment of weighs will occur during the break time between Round 1 and Round 2 (in main net period, the adjustment interval will be longer).

Initial SAP price: $100

Open-End

Risk: Low

Token Whitelist: USDC, SYP

Mint/Burn Fee: 1%

Token Allocation: BTC(62.7%); ETH(27.7%); BNB(5.1%); DOGE(3.8%); SOL(0.7%)

Solana Eco Index

Solana Index is based on the Top 5 crypto assets’ prices on Solana Ecosystem provided by Pyth. The weights are calculated by the circulating market cap on June 2, 2021 (Our ‘Hello,world’ twitter day).

During the testnet competition period, the adjustment of weighs will occur during the break time between Round 1 and Round 2 (in main net period, the adjustment interval will be longer).

Initial SAP price: $100

Open-End

Risk: Low

Token Whitelist: USDC, SYP

Mint/Burn Fee: 1%

Token Allocation: SOL(71%); FTT(26%); SRM(1.96%); MER(0.04%); 🦜PAI(1%)

👨‍💼Category2: Trader-based SAP

Trader-based SAP follows the traditional investment strategy by researching every valuable project in the crypto industries. All the transactions are proposed to be executed in DEX and fund managers are expected to release periodic report on recent events.

Managers might adjust the allocation anytime during the competition and announce the decision later as well as explaining the reason.

Initial SAP price: $100

Open-End

Risk: Medium

Token Whitelist: USDC, SYP

Mint/Burn Fee: 1%

Initial Allocation: BTC(20%), ETH(20%), SOL(5%), USDC(55%)

👨‍💻Category3: Quant SAP

Quant, stands for quantitative trading, is the most popular investment method in the recent financial world. By coding the trading strategy, our Quant strategists could execute the transactions more frequently (more than thousands of trading per second) and with less biases (because all the trading is based on pre-set standards and rules).

And Sypool is one of the few, if not the first, to bring quantitative trading in the crypto markets. This SAP follows a BTC-ETH-USDC strategy. And Quant strategists will announce any allocation adjustment during the competition.

Initial SAP price: $100

Close-End, Mint&Burn on the first days, close on weekdays and reopen on weekends

Risk: Medium

Token Whitelist: USDC, SYP

Mint/Burn Fee: 1%

Initial Allocation: BTC(15%), ETH(15%), USDC(70%)

🗂️Category4: Structured Yield SAP (Quant-R1, Quant-R2)

The structured yield SAP is designed by allocating the yields of Quant SAP into two ranks. Quant-R1 is similar to a bond, which has a 10% interest if the index doesn’t have a loss greater than 34%. Quant-R2 represents the other layer with higher risk and higher returns.

In this competition, we hypothetically set the 60%-40% percentage and 10% interest for R1 to simulate a real structured yield SAP.

If the Quant SAP has a near -34% return, the structured yield SAP will stop offering liquidity to Quant SAP and start liquidation process.

Initial SAP price: $100

Close-End, Mint&Burn on the first days, close on weekdays and reopen on weekends

Risk: R1 - low, R2 - high

Token Whitelist: USDC, SYP

Mint/Burn Fee: 1%

All assets’ prices are fed by our partner, pyth.

Testnet instruction will be released a few hours before testnet online.

Q & A

Q: Do we need to mint devnet token?

A: No need to mint, we will send to your address a few hours before testnet online.

Q: What should we do after we fill the form?

A: Read this article carefully, think about your own trading strategy, and wait for testnet launch. Also you can read our whitepaper and roadmap to have a well understanding on our project.

Q: What’s the prize and who will get the prize?

A: The prize is total 50,000 SYP in Round 1. There is a leaderboard on testnet, top 5,000 will get the prize. The higher the ranking, the more prize you get. Top 50 will get role SYPOOL LEGEND on discord as additional rewards. The ranking depends on your trading performance.

📟If you want to know more about Sypool, follow us on Twitter, join us on Telegram, join us on discord.

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Sypool Protocol

Sypool Protocol

Sypool is a synthetic asset management protocol.This is another innovation that we have migrated finance from off-chain to on-chain.