SYNC Network To Partner With New TrustSwap Swappable Marketplace
An official blogpost by SYNC Network confirms that it has a great interest in TrustSwap’s soon-to-launch Swappable marketplace. Trustswap is believed to be the next evolution of Decentralized Finance (DeFi) transactions solving major problems with subscriptions, split payments, and cross-chain token swaps.
The TrustSwap Swappable is a DeFi NFT and ERC-20 marketplace, and the integration is touted to bolster more exciting use cases of the DeFi ecosystem. Analysts believe that TrustSwap’s stance on improving the overall functionality level of the entire DeFi space will ensure that Swappable and Tokensale launchpad will bring in success and facilitate the introduction of more functions to the DeFi space.
TrustSwap Swappable have an advantage over top players
The new TrustSwap Swappable has been compared to DeFi NFT space like Rarible and Opensea. However, the network believes that it has a competitive advantage over the aforementioned top players in the DeFi NFT ecosystem. The TrustSwap Swappable platform has a feature that will enable it to give back to the platform users, a feature that has never been enjoyed by users before now.
On the other hand, SYNC Network will be tasked to ensure the plans become a reality. The functions of creating and allocating NFT bonds designed to store locked liquidity will be tasked to SYNC Network. The bonds will be tradeable on any marketplace, and interested traders will trade and acquire an interest in their Liquidity Provider tokens.
SYNC CryptoBonds and open NFT marketplaces have facilitated the option to earn and trade. The partnership between SYNC and TrustSwap is set to bring an outlook on CryptoBonds that is poised to be more diverse than competitor OpenSea. SYNC is prospecting the idea of providing important features like the ability to exit a CryptoBond at any point, a feature which edges it over Opensea and Rarible.
SYNC Network considered cost
In the blogpost by SYNC, the network confirmed that it considered TrustSwap Swappable in the partnership because of the affordability of the network. In a private survey, SYNC had discovered that TrustSwap Swappable fees are much lower compared to that of other competing platforms.
Another good news for stakers is that a whopping 80% of fees acquired is paid back by the partnership to TrustSwap SWAP token stakers. Interested traders and stakers are advised to ensure they actively stake SWAP tokens while trading CryptoBonds. The SYNC Network will, furthermore, whitelist the TrustSwap SWAP token for CryptoBond creation.
Trustswap is a cross-chain “smart swap” system is used to wrap any token or coin (Bitcoin, Litecoin, Monero, Ripple, Cardano) into an ERC20. Today, SWAP was trading at $0.010099, with a 24-hour trading volume of $20,626.17 and a market capitalization of $121,947. On the other hand, as of today, SYNC currently trades at $0.033285, with a 24-hour trading volume of $100,977 and a market capitalization, which ranks it as number 2802 in the world.