syUSD, syEUR, syGBP - non staking required, interest yielding stable currency

Synfy provides a stable currency which is pegged to the underlying. By maintaining a one-to-one reserve ratio between a cryptocurrency token and an associated real-world asset ($ fiat currency) whilst paying an annual % return or interest.

% return or interest is paid even whilst the user spends, uses or holds the Synfy token (eliminate the need for “staking”).

The vision is to develop this into an eco-system where some tokens have “coupon” returns higher than others. Each token has a unique id which corresponds to their floating return. E.g. token 7765 is moving around the eco system with a current accrued return of 5%, whilst token id 1283 is floating at 3.25%. Users can sell their return around a blockchain.

Due to the one-to-one peg to the dollar/euro/gbp, syUSD is stable and less volatile than traditional cryptocurrency tokens. The peg uses the Ethereum blockchain, proof of reserve, auditing & cash variable/fixed deposit or market neutral hedging to prove tokens are fully backed and a return can be paid.

syUSD is redeemable/exchangeable for the underlying fiat currency or if the holder prefers the equal spot value in Ethereum.

The syUSD solution is a fiat pegged cryptocurrency called syUSD which pays a % annual return whilst the end user uses the currency. syUSD is issued on the Ethereum Blockchain as an ERC20 token and ERC721 validation standard.

There is no requirement to staking or locking syUSD up. Each individual syUSD unit is pegged one-to-one to a US Dollar. Each US Dollar is pegged to a market neutral investment portfolio. syUSD is redeemable/exchangeable for the underlying fiat currency or if the holder prefers the equal spot value in Ethereum.

The value of any given syUSD is determined by:

Note terms “return” and “interest” is used interchangeably.

1 syUSD = 1 USD + return

Return = r

Where

r = ([USD value + return at end] – [ USD value + return at start]) / USD value + return at start

Return at start is the date the syUSD was issued. This is always 0 (zero).

Return at end is the date the syUSD is redeemed. This is a -ive or +-ive integer value - within a bound range.

More information regarding Return at end is discussed later. More information about return generally is discussed later also.