Syntlayer is a new Defi project which is a fork of Reflect Finance(RFI) and Iteration Syndicate(ITS) with a burn mechanism after each rebalance. Developed by akshaynexus (developer behind Relayer Network)

Before jumping into how Syntlayer works,let's briefly see how RFI and ITS work:

Reflect Finance(RFI)

RFI charges a 1% fee on transactions which is distributed instantaneously to the token holders.

100% of the fees generated goes to RFI token holders.

Yield is generated from transfer fees and as the token holders earn more fees , their share of total supply keeps on increasing. 

If you want to learn more about RFI , read the article below:

https://reflectfinance.medium.com/introducing-reflect-rfi-362b97e3670d

Iteration Syndicate(ITS)

ITS has got a unique mechanism which tries to make sure that the Uniswap price of ITS which is the native token increases. Here's how it's done:

A portion of the liquidity for ITS/ETH pair is temporarily removed and is used to market buy ITS with ETH and the remaining ITS is burned. Basically "rebalancing" the uniswap LP pair driving the price of ITS up in terms of ETH.

If you want to learn more about ITS , read the article below:

https://cryptochoad.medium.com/iteration-syndicate-d0bde4b0e384

SYNTLAYER , the best of two worlds

Syntlayer is a fork of Reflect Finance and Iteration Syndicate which combines both of them to create something innovative.

What does Syntlayer do?

• Rebalancing

Like ITS , Syntlayer rebalances the liquidity every 30 mins. Each rebalance pulls 2% of liquidity which is used to market buy SYNL with ETH , burning 98% of SYNL in the contract.Each rebalance increases the share of the token holders.

• Gasless yield

Holding SYNL tokens rewards the user with yield earned from 1% transaction fees.

• Boosted LP rewards

LPs get an additional 0.2% on top of the 0.3% trading fee after each rebalance(30 mins).

Total rewards for LPs : 0.5%

Short way to understand rebalance: Supply decreases , rewards increase.

Syntlayer had a presale which is over.

Token Distribution:

Hardcap : 370 ETH

700,000 SYNL (70%of total supply)

35%(350,000) allocated to buyers

35%(350,000) allocated to Uniswap liquidity. 

Tokenomics

Total supply : 1,000,000 SYNL

700,000 SYNL (70%) - Token sale

50,000 SYNL(5%)- Marketing

150,000 SYNL(15%) - Development

100,000 SYNL (10%) - Ecosystem Rewards

SYNL is traded on Uniswap.

https://info.uniswap.org/token/0xa6d84dce85c457d28a971f858967002bfde74c1c

SYNL/ETH pair : https://info.uniswap.org/pair/0x62904a841c77c96403ca86669004485ea06acdaf

Syntlayer token address 0xa6d84dce85c457d28a971f858967002bfde74c1c

Dextools : dextools.io/app/uniswap/pair-explorer/0x62904A841c77c96403Ca86669004485eA06AcdAf

SYNL Telegram : https://t.me/SyntLayer

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