Synthetix Network Token SNX to Particl PART Exchange

Crypto Pair Details: SNX to PART

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.

Particl PART

Particl is an open-source and decentralized privacy platform built on the blockchain specifically designed to work with any cryptocurrency. It allows decentralized applications (Dapps) of all sorts to be built within a secure, highly-scalable environment and be integrated directly into Particl’s flagship wallet: Particl Desktop Particl's mission is to foster a new decentralized, private and democratic economy supported by its platform and native currency (PART). All the fees generated by the platform are paid to the PART coin holders who are securing the network. PART is a privacy coin built from the Bitcoin Core codebase and is always updated to its latest version (currently 0.16.0). Capitalizing on the latest Bitcoin codebase not only allows the Particl platform to benefit from both Bitcoin’s stability and security, but also enables developers to leverage and easily fork any product, service and technology development from the Bitcoin developer community. Particl Cold Staking is enabled by smart-contract functionality and lets users securely delegate staking powers to “staking nodes” which contain no coin. The purpose of these “staking nodes” is to provide a dedicated resource connected to the Particl blockchain and stake on behalf of another wallet without being able to spend its coins. In other words, it allows users to stake offline coins. Particl's decentralized marketplace is built with privacy at its core and offers a low-cost, secure and scalable e-commerce experience. Designed to work with almost any coin, it uses several privacy-enhancing features such as default private transactions, encrypted data, secure messaging, IP address anonymization, metadata stripping, private listings and more. It is exclusively governed by the Particl community which also earns all the fees generated by the marketplace. Particl is designed so that users can easily use and build decentralized applications that can then be integrated directly into Particl Desktop. These applications foster the decentralized, private and trustless Particl economy and are built using native privacy smart-contracts. PART can be sent as three different privacy states, each with their own degree of privacy and cost: Public, Blind, Anonymous. Each state has a purpose within our privacy platform and also provides the user full control of the linkability and traceability of their transactions. Particl is the first coin in history to deploy these privacy protocols on a Bitcoin Core codebase. The Particl platform accepts a wide range of cryptocurrencies and provides maximum privacy at the same time. By using atomic swaps and third-party integrations, all incoming currency transactions are automatically converted into PART, Particl’s native currency. This way, you can use your favorite cryptocurrency while being protected by PART’s powerful privacy features.

SOURCE: COINGECKO

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