Anyone even fairly acquainted with the crypto industry realizes the volatility of the market and the high risks associated with the investments. Yet, that didn’t seem to act as a deterrent until now! But, with the recent Terra Luna market crash, investors are a bit more cautious, and investments seem to have dropped considerably. And that’s where a platform like Syndiqate comes into the picture by offering a club-based insurance crypto-community. Syndiqate is a simple and highly effective idea to protect your valued crypto investments.
Why is there a need for Syndiqate?
Crypto is an excellent investment option with the potential to deliver high returns in a short while, but that comes with an inherent risk of losing the investment to market fluctuations as well. Here, you could go for insurance, but that doesn’t cover losses due to market volatility. It only protects against cases where the wallet or platform is hacked, and you lose the assets.
Syndiqate, on the other hand, protects you from market fluctuations as well by paying a small sum. Do not confuse it with the insurance premium! The amount you pay here is to be a part of the community. And this community that you, as an organization or individual investor, are a part of pledges to support one another by pooling their resources to the insurance pool.
How does Syndiqate works?
Syndiqate works on the concept of Takaful, an Islamic insurance system, which is entirely different from the traditional insurance that you often hear of. Here, it’s the community whose members cooperate to help the one who has suffered losses. So, there are no third parties involved, it’s just you and the community. When one of the members suffers a loss, the required amount is collected from the pooled resources and handed over to the member.
Also, Syndiqate offers two products to protect crypto assets, Investment Protection Against Asset Impairment Program and Investment Protection Against Scam Program. While the former protects against a fall in the value of the crypto assets, the latter involves protection again scams.
For both of these, you would be required to join the Syndiqate community by paying the club fees and sending the investment to the smart contract. The smart contract then locks the invested amount for the insurance period. Once this is done, an NFT detailing the insured amount, its value in dollars at the time of joining the community, club fees paid, terms and conditions, and other related information, is generated and transferred to the investor. This NFT can be traded on exchanges or markets, so an investor can always sell these.
The investor also has the option to send back the NFT and unlock the insured assets during the insurance period, but the club fees will not be refunded in this case. If this is done after the expiry of the insurance period, the entire amount will be transferred to the investor.
In case the insured event takes place that the investor is protected against, 100% of the amount is returned in the form of $SQAT tokens at the exchange rate that existed when the amount was insured. Simple, isn’t it!
All about $SQAT, the native token on Syndiqate
$SQAT will be the native token on Syndiqate, which will help facilitate transactions on the platform. It will be used for both paying the club fees and returning the amount in case the insured event occurs.
The total supply of $SQAT is capped at 1 billion tokens, of which 5% would be available to investors during the various sales and 1% will be reserved for marketing, along with another 54% kept for Company and Service Development, and Stabilization Fund. The tokenomics for $SQAT have been drafted after an intricate analysis of the market, the performance of projects and cryptocurrencies that it will offer protection to, and the future market projections.
Syndiqate is also hosting the Seed Round for the $SQAT token, where 1 $SQAT would be valued at $0.1, and the minimum and maximum purchase limit is restricted to $100 (1000 $SQAT) and $50,000 (500,000 $SQAT) respectively. Invest in $SQAT early for the best price before the value shoots through the roof after the token is listed on exchanges in the coming months.
Syndiqate works on a straightforward yet effective concept that has repeatedly proven to protect the community’s assets. And with it making an entry into the crypto industry, touted to be the riskiest of all, things sure look bright for investors. So, if you haven’t already, go ahead and protect your crypto assets against both scams and market volatility!
To find out more about Syndiqate and identify if your investments or project can be protected, visit the official website: https://syndiqate.io/
Also, follow Syndiqate on all available social channels to stay updated with the recent developments and token sales.
Twitter: https://twitter.com/SyndiqateInfo
Telegram: https://t.me/syndiqate_chat
Facebook: https://www.facebook.com/Syndiqate
Instagram: https://www.instagram.com/syndiqate/
Medium: https://medium.com/@Syndiqate
Discord: https://discord.gg/mAtRPMwB
