Loyalty Program

The Loyalty Program is part of SyncSwap's incentive program aiming to provide incentives for traders.

Genesis Epoch is here!

Trade on SyncSwap now to join the genesis epoch and start earning ySYNC!

See details of the loyalty program Genesis Epoch.

pageGenesis Epoch

Overview

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.

Epoch

The loyalty program will run with epochs. The rewards will be supplied with every new epoch, and typically, every epoch will last for 24 hours.

Note the genesis epoch will last for one month.

Rewards

Certain rewards will be allocated for each epoch, and participants can claim their rewards proportional to their ySYNC share.

The calculation of the reward amount is as follows.

$$rewardAmount = (yourEpochBalance/epochTotalSupply)*epochTotalReward$$

The reward amount is not at 1:1, and may go down with more people participating because your ySYNC share has been diluted.

Eligible tokens

The loyalty program is activated to select tokens and only trades through pools comprising both eligible tokens can receive ySYNC rewards.

For example, if ETH and USDC are eligible tokens, trades through the ETH<>USDC pool will be rewarded with ySYNC, while trades through XXX<>USDC or XXX<>ETH pools are not eligible.

Loyalty Stats

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

SyncSwap

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.