Synthesis Bank’s STB Token: What is it and What Does it Do


June 14, 2021 | AtoZ Markets – The crypto industry has been developing faster than anyone would have expected, and the speed of its development has only been picking up as years went by. Of course, it is still in its early stage, and it likely won’t reach its ‘final form’ for years, if not decades to come. But, while the speed of development is quite impressive, it is also troublesome, as some aspects of the crypto ecosystem were simply unable to keep up with the rest of it.

For example, crypto tokens often offer great investment opportunities. However, there are still problems such as which tokens to trust, whether or not they can be accessed easily, and alike. Then, there’s the problem of trading itself, and not to even mention the necessity to manage your own coins. The crypto industry was created with the idea of removing third parties that would do it on behalf of the user, so all the responsibility falls on the users’ back.

Some have, of course, greeted this change. Others heavily dislike it, as it is too different and challenging. But, the crypto sector continues to offer opportunities, and there are some areas around the world where such opportunities are desperately needed, which is why the adoption continues.

Over the last year and a half, however, the crypto industry seemingly matured enough to start thinking about methods of earning money with reduced risk, which led to the creation of the DeFi sector. Users would simply invest their funds into a token, lock it up, and enjoy regular passive income through staking, yield farming, lending, and other similar services.

This opened up an opportunity for projects like Synthesis Bank, which allow users to earn in a similar way by investing into its token, and allowing the bank to secure additional funds — not through activities like staking, but through professional investments on others’ behalf.

Synthesis Bank and its STB Token

Synthesis Bank is a smart contract-based project that essentially operates as an investment bank. It was created on Ethereum’s network, and it uses the project’s smart contracts to allow investors to invest in various digital assets indirectly. Benefits of this approach are that investors don’t have to worry about the availability of opportune tokens, or whether or not they trust them.

The bank was audited by CertiK, a well-known blockchain security firm. It makes investments on investors’ behalf, and after it makes a profit, it gives 50% of its earnings as dividends to its investors. It functions as the crypto world’s first tokenized investment bank, and to make it all work, it uses its STB Token.

Details About STB Token

STB tokens will be issued by Synthesis Bank to its token holders, and it is expected that they will eventually be available on exchanges, possibly somewhere in Q4 of this year. However, investments will start as soon as the development is done, in order to get ahead of the market and start providing dividends as soon as possible.

Dividends will be paid monthly, and all token holders will be prompted to download the project’s portfolio tracker. That way, they will get immediately notified when the dividends will be coming, as well as what amount they are going to receive.

STB token has been developed, but it has yet to be launched over the coming price. Pre-sale is scheduled to take place in July and August of this year, while the public sale will be coming in October 2021. The token will have a total supply of 200 million units, with the token price being 1 USDT. Users should also be aware that dividends will be paid out in USDT, as well.

The tokens will represent a virtual share of Synthesis bank, while the invested crypto assets will not be held by the project itself, but rather by custodians. All aspects of the project have been audited by independent third parties, of course, and since smart contracts themselves are fully open-source, they will also guarantee transparent deals.

 

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