By Harry - Crypto Specialist - 02-12-2021
Topics in the decentralised world have been growing massively in popularity over the last year. Some niche categories include decentralised blockchain technology and decentralised finance (DeFi) projects. According to sources, the total value locked (TVL) for all DeFi projects has now surpassed $111 billion. The latest figure for the TVL represents a 420% total increase in 2021. While the industry continues to expand and grow by researching and creating new advanced technologies and liquidity projects, there comes equally difficult issues to solve. Some of the main problems are the credibility of DeFi projects and their fast-growing risks and hazards. Many of the issues also can affect decentralised finance crypto coins as the more problematic the DeFi becomes the more the price to buy crypto tokens from DeFi initiatives fluctuates. In order to create solutions for these increasing problems, the SYNC Network has carefully planned a novel method of producing liquidity non-fungible tokens within the DeFi industry.
The SYNC Network is a layer-2 scaling platform that is 100% decentralised, community-governed, and is also built within the Ethereum (ETH) ecosystem. By implementing the company’s strategy, SYNC is hoping that they can improve the resilience as well as decrease the risks that come with running a decentralised business. The solution the SYNC Network is providing are Crypto Bonds. Crypto Bonds are essentially a new version of an NFT issued by SYNC. Every time a new NFT is issued, some of SYNC’s native crypto market investment, $SYNC, gets burned. Reportedly, Crypto Bonds are more advanced than your typical NFT art piece, this is because Crypto Bonds hold large amounts of data within them. The SYNC Network uses these upgraded NFTs as digital interest-earning assets.