🤑vlSYNO & Incentives

Guide how to maximize your incentives.

Are there any $SYNO emissions?

To bootstrap the money market, a % of supply is allocated for incentivizing emissions. All money market participants will be eligible for some SYNO emissions. You can view your $SYNO APY under the Portfolio page.

How can I boost my emissions?

You can boost your pro-rata share of the money market emissions via vlSYNO lock.

What is vlSYNO?

vlSYNO is a locked 80SYNO-20wETH Arbitrum Balancer Pool Token. It helps the protocol bootstrap liqudity for the SYNO token, and make sure that the pool is highly liquid.

How do I get vlSYNO?

To lock into vlSYNO, users should first provide liquidity on 80SYNO-20wETH Balancer Pool and then lock the liquidity via the "Lock" page of the dapp.

If the user does not have the lock, they can create a lock via the orange button at the lock page. Users will also be directed to Balancer, if they have not supplied any liquidity yet.

Once liquidity is provided, and Balancer Pool Token is in the wallet, users should select the multiplier depending on their choice in the horizontal slider:

  • 1 month - 2x

  • 3 month - 5x

  • 6 months - 11x

  • 12 months - 25x

What benefits do I get after locking vlSYNO?

  1. Boost for SYNO Emissions. The longer the user locks vlSYNO, the higher their multiplier is. Users with the longest lock - 12 months have the highest multiplier - 25x, meaning that their emissions allocation will be boosted compared to other users.

  2. Distribution of fees activation. All users which provide liquidity via vlSYNO will be getting a share of fees. 40% of all fees generated by the protocol will be directed towards vlSYNO lockers.

  3. Long-term participation. Locking vlSYNO commits users to a certain time period, increasing the probability that their deposits will be maintained. At the same, the longer user participated in Synonym, the more rewards they will be eligible for.

Is there a minimum or maximum cap in relation to your money market activity?

Note, that there is no minimum or maximum cap for vlSYNO lock in relation to your money market deposit or borrows. However, please note, that your incentives will be normalized by your money market deposits hence be aware of the flywheel below.

Why vlSYNO?

vlSYNO creates a healthy cycle and flywheel among money market participants and liquidity providers, that benefits the protocol in the long-run:

  1. Users participate in the money market;

  2. Users get SYNO tokens via emissions;

  3. Users lock SYNO tokens for vlSYNO;

  4. Users get boosts in emissions and distribution of fee rewards for active participants;

  5. Repeat

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