SYNC’s First Halving Event Recap

It’s been an exciting month for SYNC Network. So far we’ve executed 2 Governance votes and on the first day after the halving will be the first vote of the second month. After the second month, the FRS will continue to halve again further reducing the available total supply. The initial supply was originally due to expand 50% of the total supply but that has been substantially reduced since the first governance vote. Everyday ~§9 Million SYNC was burned as per the community vote. The effects of this are a reduction in total supply and increased scarcity. The price positive effects of such events in Bitcoin are typically followed by a dip before massive resurgence, such as currently the case with Bitcoin. After such massive upward swings Bitcoin tends to be sold off into altcoins creating a second chance for traders looking to grow their bags. ALTSEASON IS COMING!

ETH’s Popularity is congesting the network

The upcoming vote will be addressing new concerns that have predictably arisen from ETH’s meteoric rise in popularity and equally meteoric rise in GAS fees. Just 2 weeks ago a typical gas fee for creating a CryptoBond was as little as $5. Today it’s racing above $50. While expected, this deterrent by ETH’s design slows activity in all DAPPs to only the most essential. The latest proposal, if passed will create a Gas Station fund to reimburse people for creating CryptoBonds over a certain value until the gas wars subside. Of course this could only last as long as the fund is available, so it will be advantageous to create CryptoBonds “while supplies last”. This is a very bullish move by the community and continues to exemplify the strengths of the SYNC Network and CryptoBonds.

RECAP:
TrustSwap is launching Swappable the NFT dex Jan 17th.
DexTools is integrating Bonded Liquidity sats into their amazing dapp.
New CryptoBond artworks deployed for both TrustSwap and Dextools
Governance Deployed
Admin access to contract was burned
Inflation Mitigation passed via governance
Many UI Improvements (DarkMode!) and metrics on data that was available
Various community AMAs
Massive Token Burn
>$1.2 MILLION VALUE LOCKED IN CRYPTOBONDS!!

The excitement is building as SYNC Network’s growth remains steady and sure footed.

UPCOMING VOTES:

GAS STATION VOTE
NEW LPT APPROVAL VOTE

Ensure you follow SYNC Network on twitter Discord or Telegram for up to the minute updates on results and late breaking news of latest events.

Explore our dapp at APP.SyncBond.com