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SyncSwap, as a reference decentralized exchange for L2 blockchains such as ZKsync, Linea, and Scroll, is preparing for the upcoming governance token SYNC, planning to distribute these tokens through an airdrop. This decision brings significant benefits to its community and loyal users, and may also provide momentum for SyncSwap's accelerated growth in the future.
SyncSwap V3 Upgrade and Innovative Features
SyncSwap recently announced the launch of version V3, which introduces important new features, especially Range Pools. The core characteristics of this new structure are:
Capital Efficiency: Range Pools improve capital utilization efficiency through customized price ranges.
Flexible Liquidity Provider (LP) Management: Supports all types of assets, ensuring that liquidity providers can manage flexibly according to their needs.
High APR: These new features enable liquidity providers to achieve higher annual percentage yields.
Range Pools will initially launch on the ZKsync network, with plans to expand to other chains afterward. This innovation not only enhances the user experience but also brings new opportunities and higher yield potential for SyncSwap's liquidity providers.
SYNC Token and Airdrop
With the release of SyncSwap V3, the project team also revealed the upcoming SYNC token. The TGE (Token Generation Event) for this token is expected to occur shortly after the launch of the ZKsync Ignite rewards program, although the specific timing has yet to be determined. The total supply of SYNC will be 100 million, with 100% allocated to the community, without any share for venture capital (VC), which is different from the dominant position of venture capitalists in most project airdrops. This distribution method emphasizes SyncSwap's commitment to community support and may attract more users to participate.
According to the announced plan, the following users are expected to receive airdrop rewards:
Regular users of ZKsync, Scroll, Linea, Sophon, Zircuit, and Taiko networks.
ZKsync Ignite Rewards Program
In conjunction with the SYNC token airdrop, the ZKsync ecosystem is also preparing to launch the ZKsync Ignite rewards program. This program is planned to officially start on January 6, 2024, and will provide 325 million ZK (approximately 65 million USD) in funding to incentivize decentralized protocols on the ZKsync network, including SyncSwap.
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