Synthetix Network Token SNX to SOLVE SOLVE Exchange

Crypto Pair Details: SNX to SOLVE

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.

SOLVE SOLVE

'Solve.Care is a healthcare IT company that builds blockchain platforms which the team believes may improve the way healthcare is delivered and managed. The Solve.Care platform reportedly uses blockchain technology as the underlying distributed ledger for coordinating care, benefits and payments between all parties in the chain of healthcare: patients, doctors, pharmacies, laboratories, employers, insurers, and others. SOLVE tokens may be used to secure efficient and transparent healthcare administration around the world. The token supply is fixed and the price variable, as determined by market supply and demand. SOLVE token runs natively on the Ethereum blockchain and is designed to follow the ERC20 token standard. SOLVE utility tokens are the currency used for transactions on the platform. According to the foundation, they can be utilized to pay for Care Administration Network fees, establish Care.Wallets, purchase Care.Cards, and participate in Care.Marketplace services as well as pay for associated integration fees. In addition, SOLVE is reportedly used for the emission of Care.Coins and payments requiring Care.Coins.'

SOURCE: COINGECKO

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