SynCoin

SynCoins are listed and quoted on Synkrony® Exchange and can be purchased by credit card, debit card or bank transfer or can be exchanged for other digital assets within the platform.

The SynCoin is the native crypto of the Synkrony® circuit, launched in early 2022 to tokenize industrial property rights in the ecosystem. Issued in 1 billion units, representing in stake 100 percent of the royalties triggered by fees charged on all Synkrony® Exchange transactions.

Yes, to buy SynCoin you must first complete level 1 of our KYC verification procedure. You can do so by filling in the form with the necessary information and by attaching relevant documents on your Synkrony profile section.

By purchasing SynCoin and voluntarily opening a staking position you are entitled to participate in Synkrony® Exchange's Proof Of Play, or the innovative system of distributing the platform's royelties to all stakers. These royalties represent the commissions applied to transactions and for each transaction processed Proof Of Play randomly elects a staker to whom 100% of the management fees are allocated.

The allocated fees are in the currency of the transaction processed, so if a staker is elected to process a BTC transaction, the fees are allocated in BTC and so for every other currency. This makes it so that a SynCoin staker can get several coins if he is elected by Proof Of Play.

After buying SynCoin, you can open a stake position by following the platform’s guided procedure. You can easily and quickly modify stake positions at any time through the management panel. If you decide to un-stake your assets, the POP algorithm will automatically rule you out.

SynCoin, as well as other staked assets, follow the rules of the POP algorithm. By opening a stake position, your assets get locked up in special wallet called #SYNKRONY. This wallet handles all of the smart contracts, all of the stakers and any transaction fee on Synkrony Exchange.

Stakers are drawn by the Synkroulette smart contract according to Synkrony’s native function DRAND.

SynCoin and the smart contracts regulating its operation have been developed following a hyper secure cryptographic protocol provided by T.R.I.N.C.I.®. Through this decentralized protocol, each SynCoin can be staked by the user in order to take part in the POP mechanism. Any operation involving SynCoin should be carried out under SynCoin terms and conditions.