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What is Symblox?

You might have heard about what Symblox is about, but today we would like to do a quick dive into the core of our project.

Symblox is a decentralized synthetic asset issuance and trading protocol, which is driven entirely by the community. It allows users to create digital stablecoins, in other words, coins that are pegged to the value of another asset. By locking some amount of cryptocurrency on the platform, the owner can issue tokens with a peg either to some other cryptocurrency, fiat money (like USDT), or other assets (gold, silver, etc). For example, anyone can mint synthetic Bitcoin (syBTC), US Dollar (syUSD), gold (syGOLD), or even stocks, like syAAPL, etc. on Symblox. These synthetic assets can then be traded directly on the Symblox protocol for profit.

Symblox supports various crypto assets as collateral, thereby avoiding systemic risks caused by price volatility in a single collateralized asset and providing the scalability for the issuance of trillions of dollars worth of both crypto and real-world assets on the protocol.

Symblox was created to streamline financial operations via DeFi.
This is a very basic description of our project. In our future posts we will tell you more about the principles and goals of Symblox, the technologies we use, and the range of features we offer. Stay tuned, there are big things coming!

You can learn more about our project on the website.



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