Rebuilding the Glory of Decentralized Finance: Syncus's Path of Innovation

In the last bull market, DeFi was widely regarded as one of the most disruptive innovations in blockchain technology. However, due to technical shortcomings or structural flaws in the economic models, many projects ultimately fell into a death spiral. In the current environment dominated by Meme and inscription tokens, how can we restore the former glory of DeFi? Syncus may offer a potential solution.

Introduction to Syncus DAO

Syncus DAO is a decentralized currency reserve protocol deployed on the zkSync Era chain. It is committed to developing DeFi applications within the zkSync ecosystem and providing liquidity markets for SYNC holders. Syncus aims to become the core of the zkSync DeFi ecosystem, offering a comprehensive range of financial services including lending, collateral, banking services, stablecoins, interest accounts, mutual funds, and exchanges.

zkSync Era, as an Ethereum Layer 2 scaling solution, provides an ideal development platform for DeFi projects with its efficiency, low cost, and strong security. Against this backdrop, Syncus was born, aiming to leverage the advantages of zkSync to bring innovation to the DeFi ecosystem.

Core Concept: Redefining Game Theory

The core idea of Syncus is to reinterpret the application of game theory in the field of Decentralized Finance. It aims to break the zero-sum nature of traditional protocols by designing new mechanisms to transcend the prisoner's dilemma and create an ecosystem that benefits all participants.

Lessons Learned from OlympusDAO

OlympusDAO was once a groundbreaking project in the DeFi space, creating a decentralized reserve currency protocol through its native token OHM. Although its ve(3,3) model addressed the issue of token holder rights being diluted to some extent, there were deviations in practice, leading to market behavior that did not align with expectations.

Syncus's innovation

Syncus proposes a new mechanism design based on the experience of OlympusDAO. This design ensures that even in seemingly adverse behaviors, the DAO and long-term stakeholders can still benefit. Syncus's model is similar to a decentralized casino, where the DAO and long-term participants can always profit from the system.

In the Two-player Model of Syncus, any sale of SYNC results in a loss for the seller, but benefits the stakeholders. Each transaction brings profit to the DAO, creating a self-sustaining ecological cycle. Even if the activity of SYNC diminishes, the remaining APY distribution will reignite participation enthusiasm and promote a recovery cycle.

SYNC Token Design

The token economic model of Syncus is at the core of its mechanism design. SYNC serves as the governance token, with a total supply of 4,186,731,698. As of March 18, the price of SYNC tokens is $0.03071, with a total market capitalization of approximately $130 million. This design ensures that the interests of token holders are closely tied to the long-term success of the entire ecosystem.

Innovative Strategy Optimization Measures

Adaptive Tax Strategy

Syncus has implemented a flexible tax system that dynamically adjusts sales tax and eliminates staking tax based on market fluctuations. During significant price increases, taxes are temporarily raised to reduce speculative trading; during periods of market stability, taxes are reassessed and reduced accordingly. This strategy takes into account the current staking APY, ensuring that the tax policy remains balanced with the returns received by stakers.

Financial Treasury Mechanism

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Goals and Vision

Syncus will successfully position its measurement criteria on the actual benefits brought to various stakeholders, rather than just the increase in token value. The short-term goal is to increase market share and create value for holders, while the long-term goal is to become a decentralized, treasury-backed protocol. Once a significant market capitalization is achieved, Syncus plans to invest in the zkSync ecosystem and build its own product ecosystem, with the ultimate goal of creating a truly auto-generating yield stablecoin.

Summary

Syncus represents the arrival of a new era in Decentralized Finance, drawing on lessons from the past and moving towards a more stable and sustainable future. By employing innovative game theory models, Syncus transcends the traditional prisoner's dilemma, proposing a mechanism that is more beneficial to DAOs and their long-term stakeholders. By implementing transaction taxation and treasury mechanisms, Syncus encourages individuals to act in the interest of the collective, avoiding the death spiral.

With the emergence of more and more innovative DeFi projects, we have reason to believe that market confidence in the DeFi track will gradually be restored. In this round of the bull market, DeFi may once again showcase its unique charm and become a leader in the blockchain field.