Since the first day that Velas Blockchain launched it’s project, milestones are reached by consistently working and slowly developing it’s blockchain and all of the products they offer. By sharing consistent reports to let the community aware of it’s doing, Velas has now it’s first project to use it’s Blockchain to execute an optimal network to cater the needs of the users and for future users to come.
What is Symblox?
Symblox is a decentralized synthetic asset issuance and trading protocol on the blockchain.
Bringing real-world assets to the blockchain
Anyone can use Symblox to issue any asset classes, including foreign exchange, stocks, gold, futures, etc., to the blockchain and directly trade and profit.
DeFi trend is taking traditional finance to the next level. With the current problems such as slow transactions, high fees that is mostly caused by middlemen, low liquidity, Symblox is taking the trend to Velas Blockchain and maximizes it scalability to provide the best experience to users.
DeFi offers a lot of use case using the blockchain and Synthetic Asset issuance is just one of them. It’s main use is to tokenize any existing asset, bring it into a liquid market to trade via smart contracts and take profit.
Being the first to adapt the Velas Blockchain, Symblox is fully supported by Velas to attain it’s goal.
Currently there is more that 300 members to it’s Telegram group and planning to launch on October 16, 0:01 (UTC -7).
In order to get $SYX, the local currency of Symblox, you can use $VLX to stake and receive the perks of being an early bird.
Insider Tip: Early birds are rewarded by 3x the staking reward for the first two weeks and marginally decreases over time.
Reminder: There is no presale. All of the minted tokens is only available to yield farmers.
First Phase: 8 weeks.
SYX Supply: 1 Million “initial” Supply.
- 100M SYX capped
Token Distribution (Total):
- 10% goes to liquidity mining
- 45% to the derivative minters
- 45% to the traders
There’s 0 pre-mine, 0 VC backed, 0 ICO.
As of the moment, there is 11.21 Billion USD locked on the DeFi platforms. Everyone is making business out of it but it also provides great usage for people who want seamless transactions on trading, lending, and other services that banks could provide.
To know more about Symblox, make sure to check their recent AMA that was conducted by Crypto Revolution team on Telegram.
Symblox AMA Recap Crypto Revolution Telegram group
On 10th and 11th of October (blame the battery!), Symblox conducted an AMA in Crypto Revolution Community. Our guests…
Velas is also helping the community be aware of Symblox by hosting an AMA on it’s official Telegram Group on October 15th, 2020 at 02:00 PM (UTC +0). Grab your popcorn, join the AMA and have a chance to win some $VLX that you can also use to stake for some $SYX tokens!!!
Don’t miss the chance to join the AMA and win prizes and a chance to answer your questions about Symblox.
Symblox Website: https://symblox.io/
Symblox Telegram Group: https://t.me/Symblox
Symblox Twitter: https://twitter.com/SymbloxDefi
Velas Website: https://velas.com/
Velas Support Page: https://support.velas.com/hc/en-150
Velas Telegram Group: https://t.me/velascommunity