Sypool Mainnet Beta is Here! 🎉 🎉 🎉
🎉 The time has finally come! We’re proud to announce that on May 12th 8:00 AM UTC, we will be doing a Mainnet Beta Launch of the SYPOOL. The rewards for finding a critical bug will be high and paid in $SYP.
🐳 All users who have completed tasks are eligible to share up to 2,600,000 $SYP (Final Prize Pool + Weekly Prize Pool + Farming Reward).
📍Venue: https://sypool.io/
⏳Duration: 8 weeks
⛳ Task:
✔ Follow twitter @SYP_Protocol
✔ RT & Tag 3 friends
✔ Join Sypool telegram group
✔ Mint/Burn SAP & Farm
✔ At least mint twice & burn once
✔ Final hold value more than 3 SAP
Reward:
# Share the Weekly Prize Pool as shown from the Rewards Table.
Rewards Table
- Week 1 【20,000 $SYP Weekly Prize Pool】
- Week 2 【23,000 $SYP Weekly Prize Pool】
- Week 3 【26,000 $SYP Weekly Prize Pool】
- Week 4 【30,000 $SYP Weekly Prize Pool】
- Week 5 【33,000 $SYP Weekly Prize Pool】
- Week 6 【36,000 $SYP Weekly Prize Pool】
- Week 7 【39,000 $SYP Weekly Prize Pool】
- Week 8 【43,000 $SYP Weekly Prize Pool】
Total 250,000 $SYP for Weekly Rewards.
*The shared distribution depends on the distribution of the final hold SAP value.
🌻 Farming Task:
# If you provide liquidity for SIX(Solana Eco Index)/SYP pair on Raydium, you can stake your LP token on SYPOOL to earn SYP as reward. The reward will be calculated daily.
Reward:
# Share total prize pool of up to 2,000,000 $SYP
🎫 Comprehensive & Additional Task:
✔ For those who finish weekly task at least 6 times and finish the Farming Task during the beta test are eligible to share the Final Prize Pool of 350,000 $SYP, and reward bug-hunter NFT(special utility and will be specified in following event).
✔ You can submit valid technical problem report, we will give 500 $SYP/each, and reward bug-hunter NFT(special utility and will be specified in following event).
✔ Select 10 valid user experiences details, and we will give 500 $SYP/each with bug-hunter NFT(special utility and will be specified in following event).
📃 Result Sharing
- We will announce the validly counted bugs and reporters.
- We will announce the 10 user experience details winner list.
- Mainnet data sharing & what is our plan for the next.
Instruction
1️⃣ Go to https://sypool.io/, click LAUNCH APP
2️⃣ Go to Pools , Connect wallet.
3️⃣ Select Solana Eco Index.
4️⃣ Click MINT to mint the share. The top shows the token contract of the Index, you can also trade it on the secondary market and provide liquidity for it. If you stake the SEI(Solana Eco Index)/SYP LP token in our farming section, you can also earn SYP as reward.
5️⃣ Enter the amount you want to mint, and then the system will calculate the total cost including the 1% mint fee. Click Mint Now to get the share. If it’s the first time you mint, Sypool will create the token account for you.
*Note: If you face mint error after you created the account, try mint again. That might be the network issue.
6️⃣ Also, you can burn your SAP by clicking BURN , but if you want to burn it in a short period, we will charge a little more as an exit penalty. So we recommend selling on the secondary market instead.
7️⃣ Some types of SAP will also charge a performance fee when you burn it. Staking more SYP can get discounts on fees, as shown in the table below.
👀For all participants, here are the mint/burn tasks.
https://gleam.io/competitions/Hrfua-sypool-mainnet-beta-event
Trade SAP
All of our products, SAPs are tradable on the secondary market.
Solana Eco Index: HWSqJdwemji7TNiKQPudUj86LXyF3vGAtWm5ePk5KzgD
AMM ID: 3PhjEuXsufThq4y9aAvM7wiMrQaaNTKqJT3XCRM8YwTS
Serum ID: E1ye95NWm5uHDGv5BcmfqmUhNktzP2UJ6ooBAgosztn5
Farming
If you provide liquidity for SIX(Solana Eco Index)/SYP pair, you can also stake your LP token on Sypool to earn SYP as reward. The reward will be calculated daily.
- Note: It’s only a testing function now, users will be able to harvest at most three days’ rewards. If one wants to harvest after three days, he will need to harvest more than twice.
- Please harvest all rewards and tick in the box before you unstake. The rewards are tied to the staked account, if you unstake without harvesting all the rewards, your rewards may disappear.
- All situations above will get improved in farming V2.
About Sypool
Sypool is a synthetic asset management protocol that is built by the professional quantitative trading team.
This is another innovation that we have migrated finance from off-chain to on-chain. This idea was inspired by both off-chain fund companies and packaged asset derivatives. On the one hand, we tokenize fund shares. On the other hand, this share token actually represents a small part of a multi-token pool, thus providing scarce liquidity for the cryptocurrency market.
Therefore, you can consider it as a fund share, or you can consider it as a mirrored token pool asset, or your own portfolio, as well as other new uses that may appear in the future.
