What is Symbiosis(SIS) | Data, market cap and Symbiosis price chart, data and market cap (SIS) .

What is Symbiosis Finance?

Symbiosis Finance is a decentralized multi-chain liquidity protocol that ensures liquidity on EVM and non-EVM compatible blockchains. Through Symbiosis Finance protocol, users are able to swap tokens across chains while remaining the sole owner of the asset with low slippage and high liquidity.

Users don’t need to use private tokens to pay for gas fees. Instead, Symbiosis Finance system allows users to pay for transactions with tokens they use for swaps.

Highlights of Symbiosis Finance

• Optimize user experience: With just one click, users can perform cross-chain swaps between Ethereum virtual machines and non-EVM compatible blockchains without intermediary steps and waiting time or through additional wallets.
• Completely decentralized: Intermediaries cannot block Symbiosis protocol or censor users’ access to the protocol.
• Interoperable: Symbiosis Finance connects popular blockchains, including Ethereum, BNB Chain, Avalanche, Polygon, and supports many other blockchains in the future.
• Non-custodial: No one including the Symbiosis team has access to user funds.
• Unlimited Cross-Chain Liquidity: The protocol aims to support all token pairs across all blockchains as well as provide the best price to enhance credit liquidity.

How does Symbiosis Finance work?

There are two cases when symbiosis performs cross-chain swaps:

Case 1: Cross-chain swaps from a blockchain with high gas fees to a blockchain with lower gas fees.

For example: Cross-chain swap UNI ERC20 on Ethereum for CAKE BEP20 on Binance Smart Chain.

At that time, the process of swapping UNI for CAKE will take place as follows: UNI → USDC → sUSDC → BUSD → CAKE

1. The user signs and sends the transaction containing instructions for the Symbiosis protocol.
2. The Symbiosis protocol swaps UNI for USDC on behalf of users with 1-inch protocol that guarantees the best price.
3. The Symbiosis protocol locks USDC in one of smart contracts – Portal.
4. As soon as the token is locked on Portal, another Symbiosis smart-contract BridgeV2 will announce a cross-chain swap request.
5. Relayers reach consensus for this particular event, sign, and send a transaction to Binance Smart Chain.
6. Synthesis protocol on BNB receives information about swap and mints sUSDC tokens at 1:1 ratio for USDCc on Ethereum.
7. The Symbiosis protocol on behalf of the user on the Liquidity Pool swaps sUSDC for BUSD.
8. The Symbiosis protocol on behalf of the user swaps BUSD for CAKE with 1-inch protocol that guarantees the best price.
9. As soon as the BUSD → CAKE swap is completed, the CAKE will be sent to the user’s address on BNB.

Case 2: Cross-chain swaps from a blockchain with lower gas fees to a blockchain with high gas fees.

For example: Cross-chain swap CAKE BEP20 on Binance Smart Chain for UNI ERC20 on Ethereum.

Similarly, the CAKE to UNI swap will take place as follows: CAKE → BUSD → sUSDC → USD.

Symbiosis Finance (SIS) Token

Token Metrics

• Token Name: Symbiosis Token
• Ticker: SIS
• Blockchain: Ethereum
• Token Standard: ERC-20
• Contract: 0xd38BB40815d2B0c2d2c866e0c72c5728ffC76dd9
• Token Type: Utility
• Total Supply: 100,000,000
• Circulating supply: 17,294,050

Token Allocation

• Founding team: 18%
• Advisory: 5%
• Reserve fund: 15%
• Node runners reward: 15%
• Relayers auction: 5%
• Liquidity Farming: 10%
• Protocol liquidity: 10%
• Seed Round: 10%
• Private Round: 6%
• Strategic Round: 4.7%
• Public Round DaoMaker: 0.55%
• Public Round Y: 0.65%
• Public Round Z: 0.10%

SIS Token Release Schedule

• Seed Round: Pay 10% after the first 4 months, then pay 3.333%/month
• Strategic Round: Pay 10% after the first 4 months, then pay 5.294%/month
• Private Round: Pay 0% after the first 4 months, then pay 5.294%/month
• IDO: Pay 25% after the first 4 months, then pay 25%/quarter
• IEO: Pay 25% after the first 4 months, then pay 25%/quarter

Token Use Cases

SIS is token of the Symbiosis Finance protocol with two main features as follows:

• Staking to run Nodes on the Relayer network.
• Symbiosis DAO administration and treasury.

Roadmap

Q1 2022

• Mainnet Symbiosis Launch
• Security audits
• Network Relayers v.1
• Mobile SDK v.1 on iOS, Android
• Cross-chain farming
• Solana alpha integration

Q2 2022

• ISolana and non EVM networks added
• Connect Relayers v.1.5 network to sidechain
• Relayers auction

Q3 2022

Launch of Symbiosis v.2 protocol

• Unified AMM pools
• Smart order routing
• Unified cross-chain farming
• Staking v.2
• New web app
• Optimize the TSS library

Q4 2022

• Multi-chain data interoperability protocol
• Symbiosis DAO

Development team

Symbiosis Finance was founded by a team of professionals who are experienced in the field of cryptocurrencies and blockchain technology, including:

• Willk – CEO: Served as a managing partner of SDT Group and an independent consultant on several DLT projects.
• Alexey L – CTO: Software architect with more than 5 years of experience in blockchain consulting and development.
• Nick A – CMO: Had a passion for cryptocurrency early, used to lead the marketing team at ChainMOV.IO, consult at crypto management company Trustody.io and shape the early marketing stages at Axnetris.com crypto bank.

Partners

Symbiosis attracted the attention of many famous investment funds and exchanges such as Blockchain.com, KuCoin, DAO Maker, Republic, Binance Labs,…

Conclusion

Symbiosis Finance is a superior liquidity solution that allows users to perform digital asset swaps on different blockchains. This protocol has brought a new wave compared to traditional AMM models, reducing slippage, increasing capital efficiency and improving liquidity.