Synthetix Network Token SNX to POPCHAIN PCH Exchange

Crypto Pair Details: SNX to PCH

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.

POPCHAIN PCH

A creator-driven, blockchain-based ecosystem for content creation, distribution, and consumption POPCHAIN is a bottom-driven open, public block chain. It is committed to building a block chain 3.0 with supporting services and rapid solutions in creative field. It focuses on block chains and key AI technology such as main node, POP domain name, side chain, consensus mechanism and smart contract. POPCHAIN boasts solid business logic and eco-industrial carrying capacity. It helps enterprises for digital assets and fan economic operation. Consumption scenarios such as content distribution and scene services form an industrial digital asset operating cycle, providing copyright protection, content distribution, IP rights, big data, AI cloud brokerage and other supporting services. POPCHAIN provides a friendly API that allows third-party developers to build their own applications (DAPP) on the basis of their open source protocols. POPCHAIN can be widely used in live broadcast, advertising delivery, code sharing, games and other fields. It revolutionizes and reshapes these areas, So that the center between entertainment developers and consumers no longer dominate resource and value transfer.

SOURCE: COINGECKO

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