SYNTHR PROTOCOL SECURES YET ANOTHER LIQUIDITY GRANT — THIS TIME, FROM TELOS FOUNDATION
It is with great pleasure that we announce our collaboration with Telos — a third-generation blockchain platform for building fast, scalable distributed applications with feeless transactions.
Developed to power the economies of the future and provide human-scale solutions to global challenges, Telos offers innovative governance features that empower organizations to shift influence and decision-making to a more collaborative and transparent model.
As part of this strategic partnership, we have received a grant from the Telos Foundation, which will primarily be used to provision liquidity for the syTLOS/TLOS pair that will be setup on ApeSwap — a multichain DEX offering accessible, transparent, and secure trading of tokens on networks like Polygon, Avalanche, BNB Chain, and of course, the Telos Chain.
(Telos Network as a protocol will have the opportunity to bribe veSYNTH holders — i.e., the SYNTHR DAO members — for their support in reward allocation for the syTLOS/TLOS pool in order to increase liquidity within the pool)
In light of the collaboration:
- Users of Telos chain will be able to access multi-chain liquidity, allowing them to swap into any asset, on any chain, slippage-free.
- Users from other EVM and Non-EVM chains will be able to seamlessly enter the Telos network ecosystem.
- Users of ApeSwap will be able to earn rewards as part of SYNTHR’s LP Incentivization Program.
Furthermore, ApeSwap users will be able to perform slippage-free cross-chain swaps using SYNTHR Protocol.
The SYNTHR Testnet:
Telos community members stand the chance to get exclusive access to the SYNTHR Testnet by following these simple steps:
- Follow @synthr_defi and @hellotelos on twitter
- Like & RT or comment under the @synthr_defi announcement tweet
- Be sure to attend the SYNTHR x Telos AMA on the SYNTHR Discord & collect your POAP badge to qualify for the -early-adopter role on the server
About SYNTHR Protocol:
SYNTHR is redefining the movement of assets by giving users access to frictionless and slippage-free cross-chain interoperability and liquidity. The protocol uses the Global Debt Model to mint syAssets, which can then be used to interact with an entire ecosystem of modules to perform various functions such as access to capital-efficient multi-chain liquidity, slippage-free swaps, real and sustainable farming, and safe bridging. SYNTHR is the only synthetic asset protocol that runs external DEX operations to ensure that the DEX prices of syAssets are pegged to their oracle prices using a proprietary peg-protection algorithm. The protocol’s vision is to create an ecosystem that thrives on unified liquidity and allows traders to move between networks seamlessly.
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About Telos:
The Telos ecosystem has been paving the way to Web 3.0 ever since the mainnet went live in 2018. Launching with no ICO or VC funding has allowed the network to grow in a truly decentralized fashion. Telos’ strong governance structure, complimented by a suite of powerful Telos Decide tools, empowers token holders. Telos is an open network, where everyone has an equal opportunity to contribute and impact the direction of the chain.
