Launching $SIS on zkSync
Hey, Symbiotes! We’re launching $SIS token on zkSync and our friends at SyncSwap are here to help us. Let’s take a closer look at what we’ve done!
SyncSwap is a DEX that is built on top of zkSync and will be offering a SIS/ETH pool on zkSync. This pool will allow users to swap SIS tokens for ETH with low fees and fast transaction speeds. Moreover, this pairing will help to smooth out the overall volatility of the market by providing users with a more stable option for swapping.
What is SIS?
SIS refers to the governance token in the Symbiosis ecosystem. It serves as a means of staking for running a node in the network of relayers and is also rewarded to our users as a form of incentive.
Until now $SIS has been deployed only on Ethereum, BNB chain, and Arbitrum and has been used for the following:
- veSIS mechanism
- Token rewards for stable farm
- LP Farm on DEX
- DAO voting
- Staking on nodes
All of these use cases will also be available on zkSync, which aligns with our goal of operating within a multi-chain environment. This marks a significant step forward, and we look forward to introducing even more exciting updates in the future.
Why zkSync?
At Symbiosis, we deeply believe that zero-knowledge proofs are an unalienable and necessary crypto augmentation as it tackles the blockchain networks’ intrinsic problem: privacy.
A call to transparency pushed to a limit leads to a need for more privacy, and projects like zkSync aim at solving that. Besides that, zkSync is naturally enhancing throughput and helping scale the major smart contract engine in the space — Ethereum.
As for Symbiosis, given we’re operating in the cross-chain space we would like to attract a much broader community to our native token $SIS. As it already exists on several chains — Ethereum, Arbitrum, and BNB — seems like it’s a good time to deploy $SIS on zkSync.
Contract address: 0xdd9f72afED3631a6C85b5369D84875e6c42f1827
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