What is Symbiosis Finance? Things to know about the SIS . token

• Overview of Symbiosis Finance
• What is Symbiosis Finance?
• Basic Features of Symbiosis Finance
• Products of Symbiosis Finance
• Developers, investors of the Symbiosis Finance project
• Development roadmap of Symbiosis Finance
• Overview of the SIS . token
• What is SIS Token?
• SIS . Token Allocation
• Where can SIS tokens be bought and sold?
• The future of Symbiosis Finance and should I invest in SIS tokens?
• summary

Overview of Symbiosis Finance

What is Symbiosis Finance?

Symbiosis Finance is a decentralized multi-chain liquidity protocol that provides a user-friendly interface. In a simpler way, Symbiosis Finance provides a source of liquidity that is aggregated from many different chains including EVM-compatible and EVM-incompatible blockchains.

In addition, Symbiosis Finance operates cross-chain liquidity pools that focus on off-chain routing, allowing liquidity to be exploited on AMMs of blockchains that the project supports. The project is also a permissionless P2P network, based on Relayer Networks and incentive mechanisms built into the platform. 

In addition to providing liquidity, Symbiosis Finance also provides asset swap features similar to DEX exchanges. The project also allows users to swap assets between all other blockchains more easily. Up to now, the project supports 4 blockchains including Ethereum , Polygon , Avalanche and BNB Chain.

Basic Features of Symbiosis Finance

Symbiosis Finance was created to solve the problem of fragmented liquidity on different blockchain networks and poor user experience when interacting with DeFi and Web 3.0 applications. 

The platform also simplifies the process of finding a suitable cross-chain bridge for asset swaps on various blockchains. Symbiosis Finance provides a user-friendly interface, they just need to perform simple actions like “click” to instantly swap tokens, regardless of which blockchain network the user is using. 

Symbiosis Finance has some other highlights as follows:

• Simple and easy to use: This platform has no additional wallet and the interface design is quite simple, users just need to select the token they want to swap and confirm to be able to make a transaction. In addition, the project supports a multi-chain liquidity source, so the transaction processing speed is extremely fast.
• Completely Decentralized: With this advantage, no single entity can prevent the Symbiosis Finance protocol or censor users' access to it.
• Interoperable: The project connects every popular blockchain in the cryptocurrency market. Currently, the project supports 4 blockchains including Ethereum, Polygon, Avalanche and BNB Chain, in the future will expand to support many other blockchains.
• Non-custodial: This feature will not allow anyone (including the Symbiosis Finance team) to access user funds.
• Infinite cross-chain liquidity: The project will support all token pairs in every blockchain to bring an infinite source of liquidity to users.

Symbiosis Finance uses both types of wrapped tokens:

• The first type of wrapped token will be minted on the same blockchain to process financial operations with that blockchain's native cryptocurrency.
• The second type of wrapped token will be minted for the purpose of handling cross-chain swaps. This type has the symbol sToken – Synthetic Token: sUSDT, sUSDC, sBUSD…

The purpose of Symbiosis Finance is to perform a cross-chain swap with 2 cases:

• Case 1: Cross-chain swap from blockchain with high gas fees to blockchain with lower gas fees.
• Case 2: Cross-chain swap from a blockchain with lower gas fees to a blockchain with high gas fees. 

Products of Symbiosis Finance

Cross-chain Liquidity Engine : This engine is a collection of smart contracts used to perform asset swaps between chains. These smart contracts will be deployed and regulated by Symbiosis Finance administrators.

Symbiosis DEX contract : This contract is used to exchange sToken and stablecoin. The swap feature of Symbiosis is designed according to the AMM model with 4 use cases as follows:

• Firstly, AMM is like Curve to provide liquidity to stablecoins like BUSD, USDC, USDT to any other tokens on those blockchains.
• Second, AMM resembles Uniswap to provide liquidity for underlying blockchain assets, such as BNB-ETH. The purpose is to use these assets to support native asset swaps, as well as gas fee pools.
• Third, AMM is like Curve to provide liquidity to stablecoins with minimal slippage for users, as well as reduce risk for liquidity providers.
• Fourth, AMM resembles Curve to provide liquidity for assets of equal value on both networks, such as BTCB-WBTC. 

Mint/burn contract : This contract will be used to mint and burn sTokens.

Bridge contract : This contract is an authorization between the Relayer Network and the Portal/Synthesis contracts.

Metarouter : This is a smart contract that manages the trading orders transmitted to different contracts. It will act on behalf of users in the process of exchanging assets between different blockchains.

Developers, investors of the Symbiosis Finance project

Development team

The development team of Symbiosis Finance consists of members as shown below.

Investors

The project raised US$2 million in seed round with the participation of investment funds such as DAO Maker, Gate.io, Blockchain.com Ventures, Wave Financial Group, Injective Protocol, KuCoin, Primitive Ventures, Kairon Labs.

Development roadmap of Symbiosis Finance

1st quarter of 2022

• Launching Symbiosis mainnet and supporting 2 more networks: Solana, Polkadot
• Launch of Symbiosis Correspondent Network Secured by Crypto Economy
• Launched SDK v.2 mobile application, smbUSD collateralized with currencies such as: USDC, SMB, BNB, ETH

1st and 2nd quarter of 2022

• Support many other networks

Overview of the SIS . token

What is SIS Token?

SIS is the governance token of the Symbiosis Finance project with some outstanding information as follows:

• Ticker: SIS
• Blockchain Network: Ethereum (ERC20)
• Total Supply: 100,000,000 SIS
• Initial Token Circulation: 9,811,667 SIS
• Initial Market Cap: 7,849,333 USD
• Platform Raise: $440,000

With some functions as follows:

• Users stake SIS to run a node on the Symbiosis Finance network.
• SIS owners have the right to participate in governance in the Symbiosis DAO and treasury.

SIS . Token Allocation

• Seed Round: 10%
• Private Round: 6%
• Strategic Round: 4.7%
• Public Round DAO Maker: 0.55%
• Public Round Y: 0.65%
• Public Round Z: 0.1%
• Liquidity Farming: 10%
• Node Runners Reward: 15%
• Protocol Liquidity: 10%
• Relayers Auction: 5%
• Advisory: 5%
• Founders Team: 18%
• Treasury Reserve: 15%

Where can SIS tokens be bought and sold?

Currently SIS token is listed on exchanges such as Bybit, Uniswap (V2) Gate.io, ZT.

The future of Symbiosis Finance and should I invest in SIS tokens?

Symbiosis Finance is designed based on AMM models similar to Uniswap and Curve. In fact, these models have been proven by Uniswap and Curve to how effective they are. 

Unlike the AMMs mentioned above, Symbiosis Finance provides a multi-chain liquidity source, helping to ensure smooth cross-chain transactions and more cost-effectiveness. Besides, it also helps to minimize the risk of slippage for low-liquid token swaps. 

Symbiosis Finance is a protocol built on Ethereum. Therefore, it is considered as a solution to the limitations of transaction fees on this network. With the provision of multi-chain liquidity, users can now directly swap tokens on the Ethereum network with tokens of other networks in an easier and more cost-effective way. Some official information channels of the project that investors can follow are:

Website | Twitter | Telegram | Discord

summary

Above is information about the Symbiosis Finance project and the SIS token. The project was created to meet the need to connect between blockchains so that investors can easily access more ecosystems. This will open up more profitable opportunities for investors. With the above information, hopefully readers can take it as a basis for self-assessment and making investment decisions for themselves.

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