We have seen an arms race from AMMs to advanced technology across the zkSync ecosystem. Today we come to the leading liquidity protocol on zkSync, which is veSync. So what is veSync? Let’s find out through the article below.
To better understand what veSync is, people can refer to some of the projects below to get an overview of veSync:
- What is DraculaFi (FANG)? Overview of DraculaFi Cryptocurrency
- What is BulletSwap (BLT)? BulletSwap Cryptocurrency Overview
What is veSync?
Overview of veSync
veSync is a community-built ve(3,3) decentralized exchange on the zkSync network, providing a powerful and efficient platform for DeFi liquidity. Is a fork of Velodrome Finance of the Optimism (OP) ecosystem.
The goal and mission of veSync is to bring liquidity to DeFi and increase TVL on zkSync. veSync uses 2 tokens for utility management and governance: $VS (ERC-20) and $veVS (ERC-721).
veSync difference
- Liquidity: Provides 3 types of liquidity: Stable, Variable, Concentrated. Stable group for assets with low amplitude, minimal price slippage. Variable is a high volatility group, Concentrated helps increase the use of liquid capital.
- Vote: Holders vote to deposit tokens to receive $veVFT with long vesting period and large reward.
- Reward: There are 4 types of rewards users can earn: Emissions, swap fees, bribes, rebases. Token holders can maximize rewards through strategic voting.
Components that make up veSync
- Liquidity providers: Liquidity providers for projects listed on the platform.
- Trader: Traders who swap tokens.
Mechanism of action
- Step 1: Swap any token on the ERC-20 network to $VS.
- Step 2: Then add liquidity to the liquidity pairs available on the platform.
- Step 3: Stake LP tokens to receive more $VS.
Development roadmap
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Core Team
- JASMIN (Founder): Builder at other blockchain projects: TProtocol, GenKi Cats, veSync. Reseacher at un.Block.
- JW (Technical Advisor): Experienced smart contract developer from Thala Labs. Ex-Amazon.
- FRANK (Tech Lead): Solidity since 2017, From Caddle Labs.
Investor
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Tokenomics
Overview information about VS tokens
- Token Name: vsSync.
- Ticker: $VS.
- Blockchain: zkSync Era.
- Token Standard: ERC-20.
- Contract: 0x5756A28E2aAe01F600FC2C01358395F5C1f8ad3A
- Token Type: Governance
- Total Supply: 100,000,000 VS
- Circulating Supply: 32,900,000 VS.
Token Allocations
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Token Release
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Token Usecase
The VS token has only 2 dedicated functions: providing liquidity and voting on governance of project community decisions.
Exchanges
If you want to know where to buy veSync at current rates, the top cryptocurrency exchanges for trading veSync stock are currently SyncSwap and iZiSwap(zkSync).
Project information channel
Summary
The addition to the liquidity supply system is extremely necessary for the mechanism of an ecosystem and its position as a leading project with updated technology in line with the trends that the market needs. Will veSync repeat the success of Velodrome? Please leave your comments below!