We are excited to announce the SyncSwap Loyalty Program, the special incentive program for traders.

Introducing Loyalty Program

The loyalty program aims to incentivize trades and help maximize profits for traders. Traders will be rewarded with the non-transferable SyncSwap Loyalty Token - ySYNC.

Based on volume, the more trading fees generated, the more rewards. Earned ySYNC can be converted to veSYNC tokens periodically.

You will automatically receive 1 ySYNC for every $1 generated in trading fees.

Genesis epoch is here!

The loyalty program will start with a Genesis Epoch (Epoch 01).

The genesis epoch starts before the token generation event (TGE) of the SYNC token and will keep running until after the TGE is completed (the full launch).

The purpose of the genesis epoch is to bootstrap the early incentive for traders and potentially increase the earning of liquidity providers before the SYNC token is available.

Details

Totaling 900,000 SYNC tokens will be allocated for the genesis epoch of the SyncSwap loyalty program.

The genesis epoch will last for 30 days, starting on April 10th 14:00 (UTC) and ending on May 10th 15:00 (UTC+1).

Eligible tokens

The genesis epoch will start with a few eligible tokens that have sufficient liquidity, since there are not many tokens available on the zkSync Era mainnet at this moment.

The eligible tokens are

• ETH

• USDC

• BUSD (Celer Network)

• USD+

How to participate

Start trading eligible tokens to earn ySYNC and share the SYNC rewards!

You can see your loyalty stats, including your earned ySYNC, estimated rewards, total ySYNC supply in the Rewards screen on SyncSwap.

Learn more

You can learn more about the SyncSwap loyalty program in our documentation.

Join our Discord if you have any questions!

FAQ

• Q How can I participate in and earn ySYNC?

• A You will automatically and immediately receive ySYNC rewards when you make a trade on eligible pools.

• Q When can I claim the rewards?

• A You will be able to claim the rewards after the epoch ends. Rewards will be distributed in veSYNC.

• Q Why it's based on fees generated instead of trading volume?

• A The program is actually based on the trading volume, as the volume is effectively equal to fees generated, however since SyncSwap supports dynamic fees and pools may have different fee tiers, based on fees generated can be more accurate and fair.

• Q Does this means the vault of 1 SYNC is equal to $1?

• A No, 1$ in fees will be rewarded with 1ySYNC. However the SYNC rewards are based on ySYNC share instead of the amount, and there is no difference for example if 10,000 ySYNC be rewarded with $1 in fees.

• Q Why do my estimated rewards go down?

• A There are more people participating and there is more ySYNC supply in the ongoing epoch than before, causing your ySYNC share to decrease.

• Q I made a trade of $10,000, how many ySYNC will I receive?

• A For example, if you have traded $10,000 in the ETH-USDC pool and the pool fee is 0.3%, you will earn 30 ySYNC.

• Q Can I trade ySYNC?

• A ySYNC is not transferable and can only be redeemed for rewards. Beware of scams.

• Q What's the difference between my lifetime balance and the epoch balance?

• A The lifetime balance is the sum of your earned ySYNC in all epochs, while the epoch balance is your ySYNC balance in the current / corresponding epoch.

• Q What's the difference between cumulative supply and epoch supply?

• A The cumulative supply is the sum of ySYNC minted in all epochs, while the epoch supply is ySYNC minted in the current / corresponding epoch.

• Q The rewards will be calculated with lifetime balance or epoch balance?

• A The rewards will be estimated / calculated with your ySYNC balance and the ySYNC supply in the current epoch.

About SyncSwap

SyncSwap is a seamless and efficient decentralized exchange (DEX) on the zkSync Era. Powered by zero-knowledge technology, SyncSwap brings more people easy-to-use and low-cost DeFi with complete Ethereum security.

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