Recap of the Distributed SIS Token Benefits
Aug 14, 2024
Aug 14, 2024
5 min reading
5 min reading
Table of content
Since its arrival, the SIS token, a key part of the Symbiosis ecosystem, has been enhancing the cross-chain experience for users. While serving as an asset for everyday-usage goals, it has also provided Symbiotes with numerous fun perks.
For the past year, we have made sure to advance the benefits that the SIS token provides, and the best way to highlight the progress is to share some key numbers and metrics. Nothing speaks better than the facts, so let’s get straight to them.
Please note that this SIS/veSIS report is not financial or investment advice and should be used for informational purposes. End of the legal note.
SIS and veSIS tokens: Explained
By providing cross-chain users with benefits and incentives within the Symbiosis Protocol, we strive to bring the cross-chain experience with ease and delight.
There are two main token variations in the Symbiosis ecosystem: SIS and veSIS. While the first one is a regular option, veSIS is a vote-escrow version of the SIS token.
The veSIS token is acquired by locking SIS tokens for the stated amount of time, which gives users the right to the veSIS benefits.
If you want to take a closer look at SIS, its tokenomics, and the overall structure, the respective Documentation page is the best source.
When we use the “veSIS benefits” phrase, this is exactly what we mean exactly 👇
Main Benefit Utilities of veSIS
The list of veSIS perks includes the following streams:
Up to a 60% cross-chain fee deduction
By locking SIS tokens and holding veSIS, users obtain a reduced cross-chain fee for operations across numerous Layer 2 networks, including but not limited to Arbitrum One and Nova, Optimism Mainnet, Polygon zkEVM, Linea, Base, Scroll, Manta, ZKsync, Blast, and others.
When a user obtains just one veSIS, they automatically receive a 5% discount. By increasing the number to 100 veSIS, the deduction of the fee gets to 20%. The maximum 60% discount is reached with 10,000+ tokens, with the cross-chain fee reduced.
Rewards for veSIS Locks
One of the main perk streams that veSIS provides is the veSIS Lock. The terms are simple: by staking the veSIS tokens on the supported blockchains (Ethereum Mainnet, BNB, ZKsync and Linea), users get SIS tokens in return with a generous APR.
Boosted APR for Liquidity Provision
Symbiosis utilises Octopools, the liquidity pools of the protocol. When a user provides liquidity to these pools with their assets, they receive the percentage rate back, which users can boost. When they obtain veSIS tokens on the connected wallet, they receive an increased APR with a boost up to 13%. You can check the rates here, which are subject to change.
Special Extra Rewards Events
As stated, veSIS holders are eligible to receive rewards by staking their SIS tokens. This summer, we added new streams of rewards and collaborated with ZetaChain. As a part of their ZetaChain Rewards program, all veSIS holders received extra rewards in ZETA tokens.
The complete list of SIS and veSIS perks, including the upcoming rewards for Symbiosis Node Runners, is located in our SIS Utility blog post.
Review of the Distributed SIS Benefits, 2023-2024
While the Symbiosis community has been actively exploring and advocating for the cross-chain, the ecosystem members and active Rewards program participants were harvesting. Here is some important data on SIS and veSIS token ecosystem usage 👀
Distributed SIS Tokens
In the time period of just one year (Sep 2023–Aug 2024), SIS holders received 235,951 tokens back by locking their assets into the Rewards program. This type of reward is distributed weekly to the participants.
Saved Funds with Fee Deduction
Based on the metrics of an ordinary Symbiosis WebApp user, the compound yearly cross-chain fee that is paid by them is $432. Getting around 10,000 SIS staked and obtaining veSIS would decrease the amount of the fee by 60%, right to $260.
Getting into the account, the average volume of transactions within the year, around $120,359 would be saved by regular users while staking veSIS.
ZETA Rewards for veSIS Holders
In July 2024, we distributed over 50,000 ZETA tokens among the veSIS holders as a part of the ZetaChain XP program! The number of ZETA rewards was calculated based on the veSIS tokens’ amount of participants.
Symbiosis frequently takes snapshots to capture the activity of the users in the ecosystem; therefore, the participants’ list included the SIS stakers that were active on June 27, 2024.
More Utilities for SIS: Coming Soon
In addition to the announced delegation staking for Symbiosis Node Runners, we’re working to bring extra streams of perks for active Symbiosis ecosystem’s participants. As it was previously announced during the SIS burn event, the new Deflation Framework of SIS is coming in the future, while currently being designed and tested.
While sustaining the ease and convenience of using the protocol, there’s always a time for our team to put in extra effort and have more fun.
Important links:
In DeFi we trust
Since its arrival, the SIS token, a key part of the Symbiosis ecosystem, has been enhancing the cross-chain experience for users. While serving as an asset for everyday-usage goals, it has also provided Symbiotes with numerous fun perks.
For the past year, we have made sure to advance the benefits that the SIS token provides, and the best way to highlight the progress is to share some key numbers and metrics. Nothing speaks better than the facts, so let’s get straight to them.
Please note that this SIS/veSIS report is not financial or investment advice and should be used for informational purposes. End of the legal note.
SIS and veSIS tokens: Explained
By providing cross-chain users with benefits and incentives within the Symbiosis Protocol, we strive to bring the cross-chain experience with ease and delight.
There are two main token variations in the Symbiosis ecosystem: SIS and veSIS. While the first one is a regular option, veSIS is a vote-escrow version of the SIS token.
The veSIS token is acquired by locking SIS tokens for the stated amount of time, which gives users the right to the veSIS benefits.
If you want to take a closer look at SIS, its tokenomics, and the overall structure, the respective Documentation page is the best source.
When we use the “veSIS benefits” phrase, this is exactly what we mean exactly 👇
Main Benefit Utilities of veSIS
The list of veSIS perks includes the following streams:
Up to a 60% cross-chain fee deduction
By locking SIS tokens and holding veSIS, users obtain a reduced cross-chain fee for operations across numerous Layer 2 networks, including but not limited to Arbitrum One and Nova, Optimism Mainnet, Polygon zkEVM, Linea, Base, Scroll, Manta, ZKsync, Blast, and others.
When a user obtains just one veSIS, they automatically receive a 5% discount. By increasing the number to 100 veSIS, the deduction of the fee gets to 20%. The maximum 60% discount is reached with 10,000+ tokens, with the cross-chain fee reduced.
Rewards for veSIS Locks
One of the main perk streams that veSIS provides is the veSIS Lock. The terms are simple: by staking the veSIS tokens on the supported blockchains (Ethereum Mainnet, BNB, ZKsync and Linea), users get SIS tokens in return with a generous APR.
Boosted APR for Liquidity Provision
Symbiosis utilises Octopools, the liquidity pools of the protocol. When a user provides liquidity to these pools with their assets, they receive the percentage rate back, which users can boost. When they obtain veSIS tokens on the connected wallet, they receive an increased APR with a boost up to 13%. You can check the rates here, which are subject to change.
Special Extra Rewards Events
As stated, veSIS holders are eligible to receive rewards by staking their SIS tokens. This summer, we added new streams of rewards and collaborated with ZetaChain. As a part of their ZetaChain Rewards program, all veSIS holders received extra rewards in ZETA tokens.
The complete list of SIS and veSIS perks, including the upcoming rewards for Symbiosis Node Runners, is located in our SIS Utility blog post.
Review of the Distributed SIS Benefits, 2023-2024
While the Symbiosis community has been actively exploring and advocating for the cross-chain, the ecosystem members and active Rewards program participants were harvesting. Here is some important data on SIS and veSIS token ecosystem usage 👀
Distributed SIS Tokens
In the time period of just one year (Sep 2023–Aug 2024), SIS holders received 235,951 tokens back by locking their assets into the Rewards program. This type of reward is distributed weekly to the participants.
Saved Funds with Fee Deduction
Based on the metrics of an ordinary Symbiosis WebApp user, the compound yearly cross-chain fee that is paid by them is $432. Getting around 10,000 SIS staked and obtaining veSIS would decrease the amount of the fee by 60%, right to $260.
Getting into the account, the average volume of transactions within the year, around $120,359 would be saved by regular users while staking veSIS.
ZETA Rewards for veSIS Holders
In July 2024, we distributed over 50,000 ZETA tokens among the veSIS holders as a part of the ZetaChain XP program! The number of ZETA rewards was calculated based on the veSIS tokens’ amount of participants.
Symbiosis frequently takes snapshots to capture the activity of the users in the ecosystem; therefore, the participants’ list included the SIS stakers that were active on June 27, 2024.
More Utilities for SIS: Coming Soon
In addition to the announced delegation staking for Symbiosis Node Runners, we’re working to bring extra streams of perks for active Symbiosis ecosystem’s participants. As it was previously announced during the SIS burn event, the new Deflation Framework of SIS is coming in the future, while currently being designed and tested.
While sustaining the ease and convenience of using the protocol, there’s always a time for our team to put in extra effort and have more fun.
Important links:
In DeFi we trust
Since its arrival, the SIS token, a key part of the Symbiosis ecosystem, has been enhancing the cross-chain experience for users. While serving as an asset for everyday-usage goals, it has also provided Symbiotes with numerous fun perks.
For the past year, we have made sure to advance the benefits that the SIS token provides, and the best way to highlight the progress is to share some key numbers and metrics. Nothing speaks better than the facts, so let’s get straight to them.
Please note that this SIS/veSIS report is not financial or investment advice and should be used for informational purposes. End of the legal note.
SIS and veSIS tokens: Explained
By providing cross-chain users with benefits and incentives within the Symbiosis Protocol, we strive to bring the cross-chain experience with ease and delight.
There are two main token variations in the Symbiosis ecosystem: SIS and veSIS. While the first one is a regular option, veSIS is a vote-escrow version of the SIS token.
The veSIS token is acquired by locking SIS tokens for the stated amount of time, which gives users the right to the veSIS benefits.
If you want to take a closer look at SIS, its tokenomics, and the overall structure, the respective Documentation page is the best source.
When we use the “veSIS benefits” phrase, this is exactly what we mean exactly 👇
Main Benefit Utilities of veSIS
The list of veSIS perks includes the following streams:
Up to a 60% cross-chain fee deduction
By locking SIS tokens and holding veSIS, users obtain a reduced cross-chain fee for operations across numerous Layer 2 networks, including but not limited to Arbitrum One and Nova, Optimism Mainnet, Polygon zkEVM, Linea, Base, Scroll, Manta, ZKsync, Blast, and others.
When a user obtains just one veSIS, they automatically receive a 5% discount. By increasing the number to 100 veSIS, the deduction of the fee gets to 20%. The maximum 60% discount is reached with 10,000+ tokens, with the cross-chain fee reduced.
Rewards for veSIS Locks
One of the main perk streams that veSIS provides is the veSIS Lock. The terms are simple: by staking the veSIS tokens on the supported blockchains (Ethereum Mainnet, BNB, ZKsync and Linea), users get SIS tokens in return with a generous APR.
Boosted APR for Liquidity Provision
Symbiosis utilises Octopools, the liquidity pools of the protocol. When a user provides liquidity to these pools with their assets, they receive the percentage rate back, which users can boost. When they obtain veSIS tokens on the connected wallet, they receive an increased APR with a boost up to 13%. You can check the rates here, which are subject to change.
Special Extra Rewards Events
As stated, veSIS holders are eligible to receive rewards by staking their SIS tokens. This summer, we added new streams of rewards and collaborated with ZetaChain. As a part of their ZetaChain Rewards program, all veSIS holders received extra rewards in ZETA tokens.
The complete list of SIS and veSIS perks, including the upcoming rewards for Symbiosis Node Runners, is located in our SIS Utility blog post.
Review of the Distributed SIS Benefits, 2023-2024
While the Symbiosis community has been actively exploring and advocating for the cross-chain, the ecosystem members and active Rewards program participants were harvesting. Here is some important data on SIS and veSIS token ecosystem usage 👀
Distributed SIS Tokens
In the time period of just one year (Sep 2023–Aug 2024), SIS holders received 235,951 tokens back by locking their assets into the Rewards program. This type of reward is distributed weekly to the participants.
Saved Funds with Fee Deduction
Based on the metrics of an ordinary Symbiosis WebApp user, the compound yearly cross-chain fee that is paid by them is $432. Getting around 10,000 SIS staked and obtaining veSIS would decrease the amount of the fee by 60%, right to $260.
Getting into the account, the average volume of transactions within the year, around $120,359 would be saved by regular users while staking veSIS.
ZETA Rewards for veSIS Holders
In July 2024, we distributed over 50,000 ZETA tokens among the veSIS holders as a part of the ZetaChain XP program! The number of ZETA rewards was calculated based on the veSIS tokens’ amount of participants.
Symbiosis frequently takes snapshots to capture the activity of the users in the ecosystem; therefore, the participants’ list included the SIS stakers that were active on June 27, 2024.
More Utilities for SIS: Coming Soon
In addition to the announced delegation staking for Symbiosis Node Runners, we’re working to bring extra streams of perks for active Symbiosis ecosystem’s participants. As it was previously announced during the SIS burn event, the new Deflation Framework of SIS is coming in the future, while currently being designed and tested.
While sustaining the ease and convenience of using the protocol, there’s always a time for our team to put in extra effort and have more fun.
Important links:
In DeFi we trust
Since its arrival, the SIS token, a key part of the Symbiosis ecosystem, has been enhancing the cross-chain experience for users. While serving as an asset for everyday-usage goals, it has also provided Symbiotes with numerous fun perks.
For the past year, we have made sure to advance the benefits that the SIS token provides, and the best way to highlight the progress is to share some key numbers and metrics. Nothing speaks better than the facts, so let’s get straight to them.
Please note that this SIS/veSIS report is not financial or investment advice and should be used for informational purposes. End of the legal note.
SIS and veSIS tokens: Explained
By providing cross-chain users with benefits and incentives within the Symbiosis Protocol, we strive to bring the cross-chain experience with ease and delight.
There are two main token variations in the Symbiosis ecosystem: SIS and veSIS. While the first one is a regular option, veSIS is a vote-escrow version of the SIS token.
The veSIS token is acquired by locking SIS tokens for the stated amount of time, which gives users the right to the veSIS benefits.
If you want to take a closer look at SIS, its tokenomics, and the overall structure, the respective Documentation page is the best source.
When we use the “veSIS benefits” phrase, this is exactly what we mean exactly 👇
Main Benefit Utilities of veSIS
The list of veSIS perks includes the following streams:
Up to a 60% cross-chain fee deduction
By locking SIS tokens and holding veSIS, users obtain a reduced cross-chain fee for operations across numerous Layer 2 networks, including but not limited to Arbitrum One and Nova, Optimism Mainnet, Polygon zkEVM, Linea, Base, Scroll, Manta, ZKsync, Blast, and others.
When a user obtains just one veSIS, they automatically receive a 5% discount. By increasing the number to 100 veSIS, the deduction of the fee gets to 20%. The maximum 60% discount is reached with 10,000+ tokens, with the cross-chain fee reduced.
Rewards for veSIS Locks
One of the main perk streams that veSIS provides is the veSIS Lock. The terms are simple: by staking the veSIS tokens on the supported blockchains (Ethereum Mainnet, BNB, ZKsync and Linea), users get SIS tokens in return with a generous APR.
Boosted APR for Liquidity Provision
Symbiosis utilises Octopools, the liquidity pools of the protocol. When a user provides liquidity to these pools with their assets, they receive the percentage rate back, which users can boost. When they obtain veSIS tokens on the connected wallet, they receive an increased APR with a boost up to 13%. You can check the rates here, which are subject to change.
Special Extra Rewards Events
As stated, veSIS holders are eligible to receive rewards by staking their SIS tokens. This summer, we added new streams of rewards and collaborated with ZetaChain. As a part of their ZetaChain Rewards program, all veSIS holders received extra rewards in ZETA tokens.
The complete list of SIS and veSIS perks, including the upcoming rewards for Symbiosis Node Runners, is located in our SIS Utility blog post.
Review of the Distributed SIS Benefits, 2023-2024
While the Symbiosis community has been actively exploring and advocating for the cross-chain, the ecosystem members and active Rewards program participants were harvesting. Here is some important data on SIS and veSIS token ecosystem usage 👀
Distributed SIS Tokens
In the time period of just one year (Sep 2023–Aug 2024), SIS holders received 235,951 tokens back by locking their assets into the Rewards program. This type of reward is distributed weekly to the participants.
Saved Funds with Fee Deduction
Based on the metrics of an ordinary Symbiosis WebApp user, the compound yearly cross-chain fee that is paid by them is $432. Getting around 10,000 SIS staked and obtaining veSIS would decrease the amount of the fee by 60%, right to $260.
Getting into the account, the average volume of transactions within the year, around $120,359 would be saved by regular users while staking veSIS.
ZETA Rewards for veSIS Holders
In July 2024, we distributed over 50,000 ZETA tokens among the veSIS holders as a part of the ZetaChain XP program! The number of ZETA rewards was calculated based on the veSIS tokens’ amount of participants.
Symbiosis frequently takes snapshots to capture the activity of the users in the ecosystem; therefore, the participants’ list included the SIS stakers that were active on June 27, 2024.
More Utilities for SIS: Coming Soon
In addition to the announced delegation staking for Symbiosis Node Runners, we’re working to bring extra streams of perks for active Symbiosis ecosystem’s participants. As it was previously announced during the SIS burn event, the new Deflation Framework of SIS is coming in the future, while currently being designed and tested.
While sustaining the ease and convenience of using the protocol, there’s always a time for our team to put in extra effort and have more fun.
Important links:
In DeFi we trust
Symbiosis
Symbiosis is a cross-chain AMM DEX that pools together liquidity from different networks: L1s and L2s, EVM and non-EVM.
Bridge
Symbiosis
Symbiosis is a cross-chain AMM DEX that pools together liquidity from different networks: L1s and L2s, EVM and non-EVM.
Bridge
Symbiosis
Symbiosis is a cross-chain AMM DEX that pools together liquidity from different networks: L1s and L2s, EVM and non-EVM.
Bridge