Blockchain is transforming everything from payments transactions to how money is raised in the private market. The traditional banking industry is beginning to embrace this new technology, however, more crypto related banking is still needed. Introducing Synthesis Bank (STB), a banking token, with a crypto investment banking solution.
Synthesis Bank is a CertiK-audited project that calls itself a ‘sophisticated smart investment bank built on Ethereum smart contracts, that allows investors to invest in digital assets and other new alternative financial products in the blockchain ecosystem.’ Synthesis bank offers a solution through the use of its own coin, STB Token. Synthesis Bank created a tradeable digital ERC20 token that represents its own virtual share. Anyone who holds the token is entitled to receive monthly dividends based on the performance of realized investment over a period of time. So, essentially, 50% of realized profits end up credited back to token holders in the form of USDT stablecoin. Another 30% gets reinvested into the bank, while the remaining 20% are used to fund ongoing operation and the Bank’s investment activities, whether legal, auditing, analysis or otherwise.
While the project does carry the name ‘bank,’ it is not like traditional banks, as it is based entirely on smart contracts, trading algorithms, transparency, and alike. So, on the outside, investors are expected to purchase STB tokens and receive rewards for it. On the inside, the bank gets users’ investment, and then through deep and careful market analysis, it uses those funds for its own investments in order to make returns. Half of those returns are then given to its users.
The idea is to grant users passive income and continue to grow in popularity and use, which will secure more money for users as time goes by. And, of course, all of it revolves around the STB token, which was created in Q1 of this year, so it is a fairly young coin. The project spent the entire last year working on the idea and app development, and it should be ready to hold its pre-sale in July 2021, while the public sale will come around October. Then, the exchange listing is expected in November, while the first dividends are expected to arrive in December of this year.
