CSP DAO Project Review: Polysynth
Polysynth Protocol is the first decentralized exchange (DEX) based on the Polygon Network that enables trading of perpetual contracts across asset classes like Cryptocurrencies, Equities, Commodities, etc. Polysynth can facilitate instant settlement at near-zero gas fees by being on Polygon Network.
Similar to Automated Market Makers (AMMs) like Uniswap, Polysynth Protocol uses a Virtual Market Maker(VMM) model that works on virtual pools and removes any dependency on liquidity providers.
CORE FEATURES OF POLYSYNTH dAPP
- Go long or short on any asset
- Trade with up to 10X leverage
- Trade using MetaMask wallet (other wallets coming soon) at the lowest gas and trading fees
- 100% on-chain and non-custodial trading
- Trading & settlement in stablecoins (USDT, USDC, DAI, etc.)
- Use stablecoin LP tokens as collateral to trade
POL is Polysynth’s native protocol token and is issued by Polysynth DAO.
The POL token will be a standard ERC-20 token on Ethereum.
POL token is a utility and governance token that allows the Polysynth Community to own and govern the Polysynth protocol. As such, holders of POL tokens accrue voting rights proportional to their holdings. By enabling shared control, POL aligns incentives between Team, Community, Traders, Investors and Partners of the Polysynth ecosystem.
A total of 1,000,000,000 POL tokens will be minted.
TOKEN RELEASE SCHEDULE
*To be announced
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