Symbiosis SIS

Details

Symbiosis Finance intends to become a bridge to every crypto ecosystem by providing liquidity to every major blockchain, thus becoming a unified transport layer for cross-chain communication. Instead of having a typical organizational structure, they’ve adopted the now-popular decentralized autonomous organization (DAO) framework. To help achieve this vision, users are able to govern the Symbiosis DAO using the SIS utility token. Intrigued by how Symbiosis Finance aims to shape the future of crypto liquidity and swapping? This article covers all you need to know about Symbiosis Finance and SIS tokens.

What is Symbiosis Finance?

Symbiosis Finance is a decentralized multi-chain liquidity protocol that aggregates exchange liquidity across all Ethereum virtual machine (EVM) and non-EVM compatible blockchains. It allows users to swap tokens between all the chains, while remaining the sole owners of the funds and maintaining low slippage.

With crypto moonshots popping up frequently, the last thing you’ll want to worry about as a momentum trader is liquidity. Thankfully, Symbiosis Finance simplifies the time-consuming process of finding a suitable cross-chain bridge so you can get the tokens you need. With a single click, crypto enthusiasts can get token swaps done — regardless of the network they’re on. The goal of Symbiosis Finance’s small Russian team — equipped as they are with blockchain and DeFi experience — is to make their platform the sole solution for any-to-any token swaps, so that all crypto enthusiasts can enjoy high liquidity with low slippage. All of this is done without seeking another automated market maker (AMM) or bridge. Much like today’s AMMs, Symbiosis focuses on lowering the barrier to entry with its minimalist user experience and smart routing, so that users get the best price possible. This makes it easy for any user to log in and immediately swap tokens across chains. 

One issue with current liquidity solutions is that users need to hold different native assets to pay for multiple instances of gas fees. Symbiosis completely eliminates this redundancy by gunning for cross-chain, gasless transactions and adopting an architecture similar to the Ethereum Gas Station Network. Rather than require users to have a separate token to pay for gas fees, their system allows users to pay for transactions with the tokens they’re currently using for the swap. Overall, this reduces liquidity fragmentation and makes the experience of moving liquidity about less troublesome and more cost-effective.

What Are SIS Tokens?

Interested in supporting this ambitious cross-chain project? Start investing in Ethereum-based SIS tokens. As the protocol token of Symbiosis Finance, SIS has two main purposes:

• Staking to run a node in the relayers network
• Governing the Symbiosis DAO and DAO Treasury

For users to actively participate in processes involving consensus and signing transactions, each node of the relayers network stakes SIS tokens. Much like popular proof of stake tokens such as Cardano and Solana, an SIS staking reward is awarded based on the work done by each relayer.

SIS Tokenomics

There’s a maximum supply of 100 million SIS ERC20 tokens, which will be distributed according to the chart shown above. Of this total supply, 15 million SIS tokens will be awarded to node runners, while 10 million SIS tokens will be allocated for liquidity farming. Because of its DAO structure, SIS token holders are able to vote for future Symbiosis governance proposals to decide how to best grow the platform. 

About veSIS

SIS token has evolved into veSIS.

Now you can earn rewards for testing veSIS token.

Read more about  what all the fuss is about and get rewarded.