Synthetix Network Token SNX to Metaverse ETP ETP Exchange

Crypto Pair Details: SNX to ETP

Synthetix Network Token SNX

Synthetix is based in Australia, Synthetix launched a seed funding round in September, 2017 to develop the concept of a self-contained stablecoin payment network. They then kicked off their public ICO on February 28, 2018 and by the end of the ICO on March 7, 2018, they had met their goal of $30,000,000 USD. Synthetix was rebranded from Havven on November 30, 2018. Synthetix is led by a multidisciplinary team of 13 individuals. The project was founded by Kain Warwick, who previously co-founded blueshyft, one of the largest digital payment networks in Australia. The CTO is Justin Moses, who also serves as the Director of Engineering at MongoDB. Synthetix aims to address the problem that companies running centralized payment networks such as PayPal, credit card networks, or the SWIFT banking network have “absolute control over the value within the network, so any transaction conducted within them may be blocked or reversed at any time.” According to the Synthetix white paper, “Although this is ostensibly designed to protect users, it introduces systemic risk for all participants. If the network is compromised or its owners cease to behave benevolently, no party can trust that the value in their account is secure or accessible.” This is theorized to work because anyone who holds SNX tokens in escrow will be incentivized by Synthetix rewards derived from network transaction fees that will be distributed “in proportion with how well each issuer maintains the correct Synths supply.” When a Synthetix escrow user puts their SNX in escrow, USD-stabilized Synths will be automatically put up for sale on a decentralized exchange at a price of $1 USD. To release escrowed SNX, the user must buy back the Synths issued (also at a price of $1 USD) at which point the Synths will be burned. The Synthetix system uses an algorithm to adjust network fees, and therefore dividends, to SNX holders to incentivize (or disincentivize) the holding of SNX in escrow smart contracts, and thus, the creation of Synths. The theory is that this will cause users to mint and burn Synths in the appropriate amount based solely on supply and demand.

Metaverse ETP ETP

Metaverse​ is a leading public blockchain based in China. Designed to facilitate low-cost, convenient transfer of digitized personal data and assets with unprecedented security and privacy, Metaverse aims to revolutionize the way financial services and transactions are processed, and to improve outdated and inefficient identity verification services with a network of ​Digital Assets​,​ Digital Identities​, and ​Oracle​ intermediaries. Metaverse is an open-source public blockchain that provides digital assets, digital identities and Oracles as a foundational infrastructure for social and enterprise needs. Through Blockchain-as-a-Service (BaaS), we make convenient, secure digital financial services accessible to all applications at virtually no cost. Founded in 2016, Metaverse went live in February of 2017. We strongly believe that blockchain technology is the catalyst for a better future - the New Reality. The concept is building a network of smart properties and a decentralized exchange for a smart and secure infrastructure. It already has dApps like Supernova running on the mainnet, and cross-chain compatibility with ERC-20 tokens is right around the corner in the project’s development roadmap. Metaverse ETP is used to value or collateralize smart contracts on the Metaverse blockchain network. It’s also used to pay transaction/gas fees. ETP is generated through PoW mining. It’ll soon introduce a PoS model to the platform. Metaverse supports digital identities, assets, oracles, and exchanges, making it a versatile blockchain 3.0 solution. Its development ecosystem already has a gold-backed crypto trading app on the market. Many more are in development for release before 2020. ETP is tradeable on a wide array of crypto exchanges. Its current PoW model will soon be supplemented by a PoS hybrid.'

SOURCE: COINGECKO

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