xSYP Governance Token

xSYP serves as the governance token within the Sypher Finance ecosystem, empowering holders to actively shape the protocol's future. By holding xSYP, users unlock several advantages, including voting on proposals, guiding strategic decisions, and managing the DAO's treasury and assets.

Token Details for Sypher Finance

• Ticker: xSYP

• Max Supply: Dynamic, determined by staking SYP tokens and redeeming them for xSYP, the governance toDen of Sypher Finance.

• Total Supply: Dynamic, with adjustments based on staking and redemption of SYP utility tokens.

• Contract Address:

How to Receive xSYP in Sypher Finance:

1. Convert SYP tokens in the Fluent DAO Pool to receive xSYP.

2. Conversion Rate: SYP converts to xSYP at a 1:1 ratio.

3. Governance Token: xSYP is a transferable governance token.

4. Stake xSYP to earn bonus SYP tokens.

   • Minimum Vesting: 2 weeks, yielding SYP at a 1:0.5 ratio.

   • Maximum Vesting: 12 weeks, yielding SYP at a 1:1 ratio.

This process encourages long-term governance participation and rewards staking with flexible vesting options.

xSYP Allocation:

To ensure a fair launch of Sypher Finance, there will be no pre-allocation or pre-mining of xSYP tokens. All users, community members, and even the Sypher Finance development team are invited to participate in the Sypher DAO by staking any SYP tokens they acquire. This ensures equitable participation and governance influence for all stakeholders in the ecosystem.

xSYP Governance Token:

• Governance Power: xSYP is the non-transferable governance token of the Sypher DAO, granting holders the authority to participate in key decisions and asset management within the Fluent Finance ecosystem.

• Conversion and Redemption: Users can convert SYP to xSYP on a 1:1 basis. After a minimum 2-week vesting period, xSYP can be redeemed back to SYP. The longer the vesting period, the greater the amount of SYP received, increasing linearly.

• Participation in DAO: xSYP holders play an active role in shaping the future of Sypher Finance by voting on critical proposals and initiatives.

• Early Participation Bonus: Sypher DAO kickstarts with an early lock bonus program, offering xSYP holders additional SYP tokens to encourage early involvement in governance decisions.

Treasury Rights:

The Sypher DAO acts as the Asset Manager for the Sypher Finance ecosystem, managing and controlling the DAO Treasury.

50% of protocol revenue is allocated to the DAO Treasury, continually adding value to DAO participants. These fees enhance the DAO Treasury, ensuring consistent growth and long-term sustainability for the ecosystem.