Syndicate
Business Platform

Welcome to Syndicate

Secure & Decentralized

Learn More Wallet

About Syndicate

Syndicate revolutionizes the way businesses and investors fund and budget their operations and costs via income generated by SYNX Masternodes. A decentralized cryptocurrency combined with a state of the art business software can generate a unique opportunity for business owners to thrive in a country with a struggling economy. Syndicate is a community coin and every new project based on this platform will be decided by vote though our Governance Platform.

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Scarce & Valuable

Currently there are only 23,000,120 Synx in circulation created over the course of many years. The moment you acquire SYNX you can organize it to generate a high anual interest rate by setting up a masternode or by staking.

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Masternodes

Masternodes are part of the infrastructure of Syndicate. SYNX Masternodes earn yield because they provide services to the cryptocurrency infrastructure. These services add value to the users, create more security for the masternode network and decentralise the node network. By setting up a masternode you will receive your own 'private savings account' (Put 5000 SYNX in a locked account and you will start to receive interest.)

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Staking

Syndicate is open-source; its design is public, nobody owns or controls Syndicate and everyone can take part. Proof of Stake mining doesn't require expensive hardware or server farms.

Exchanges



Bittrex



Cryptopia



Upbit

Specifications




Block Time

60 seconds

Block Maturity

100 Blocks

Minimum Stake age

3 Hours

Masternode Collateral

5000 SYNX

Rewards

Proof of Stake: 10 SYNX
Masternode: 50% of POS

Ports

Port - 9999
RPC Port - 22348

Roadmap

  • Q2 2018

    Coin swap

  • Q3 2018

    Syndicate Whitepaper

  • Q1 2019

    Business Platform Integration

  • Q2 2019

    Strategic Partnerships

  • Q3 2019

    Mobile Wallet

Features

Fast Transactions

No need to wait 10 minutes. Send SYNX anywhere on the planet instantly and have it confirmed within 60 seconds

Energy Efficient

Syndicate Coin uses Proof of Stake which only consumes a fraction of the energy used to mine using Proof of Work.

Decentralized

SYNX employs a second-tier decentralized network of masternodes providing additional services such as community voting governance, self-funded treasury system and instant transactions.

Coin Swap



As many of you already know, Syndicate is upgrading. Recently we have found that a 3rd party is using an exploit to speed up their MN & POS rewards. We concluded that we need to stop deposits & withdrawals on all exchanges just to prevent the 3rd party to sell their coins & affect the price stability. After many discussions, this was our best option to protect our community and it's best interest.

On 23th of April you'll be able to withdraw your coins from Cryptopia. They won't support our swap but because SYNX is a 'veteran' coin on their exchange, they will give us the oportunity of a new listing for the new chain with a reduced fee. Until 8th of May you should withdraw all your coins from Cryptopia in your wallet.

In other news, Bittrex will support our swap although they might not open the wallet for transfers until the swap day. We are working closely with them to keep the even simple and professional.

You can still keep your MN or wallet open to receive rewards. We are preparing updated guides for users to set up trustless proof of stake transactions and masternodes.


Swap Instructions

Masternode Setup Guide

Staking Setup Guide


On the 8th of May 2018 we will perform a blockchain transfer from the old chain to the new one. Syndicate will be upgrading to a new Proof-of-Stake 3.0 with Masternode consensus mechanism and blockchain. Your existing SYNX coins will be mapped 1:1 on the new chain if you will hold your coins in your wallet or on Bittrex exchange, at the swap date.

Note: Bittrex will be closing the SYNX wallet and stop trading the token to take accurate snapshots of balances. If any SYNX you had sent to Bittrex are not settled (e.g. marked as pending) by 6:00 PM PT, on 05/08/2018 (1:00 AM on 05/09/2018 UTC), you may not be credited with SYNX.

Bittrex Announcement


Reasoning for the Swap:

- Current code base is very outdated and crucial updates can not be supported by it
- The network does not behave the way it should due to the fast rewards from MN
- To move forward with our Business Platform we need a fresh code base with no network issues


The new SYNX specification:

Block Time: 60 Seconds (Re-targeting every block)
Block Maturity: 101 blocks
Minimum Stake age: 3 hours
Block reward: 10 SYNX
Masternode collateral: 5000 SYNX

Syndicate has Seesaw Reward Balance System that dynamically adjusts its block reward size between masternodes and staking nodes. The higher the masternode count, the smaller the reward portion of each PoS block that will be paid out to the masternodes and the larger the reward portion for staking nodes. Conversely, when the masternode count falls, the masternode reward portion is increased and the staking node reward portion decreased.

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