Description
Siphon Finance works by creating a ?liquidity siphon? on a yield aggregator platform by using the yield of high apy vaults to buyback tokens and lock liquidity on a bi-weekly basis.
Siphon funds are being used to provide liquidity to solid projects with high yield, that yield would be collected from the vault bi-weekly to allow 2 weeks of compounding and maximize siphoned funds.
Part of the funds will be automaticly add to liquidity, part will be burned, part will be paid to NFT holders as dividend and part to the treasury and dev walllet to sustain the projects growth.
Siphon finance token SPHN is the governance token for the siphon protocol and its related funds, it is used to control all percentages and to decide on future funds and siphons, it is also the key to access the earning opportunities on the platform including staking for tokens / coins and also receiving protocol dividends at our NFT pool.
Market Rank
In the dynamic and ever-changing landscape of cryptocurrencies, Siphon Finance has established itself as a formidable player. It is currently ranked #10,642 in the cryptocurrency market based on its market cap. This ranking reflects the trust and confidence that the market has in Siphon Finance as a viable digital asset.
Tokenomics
The tokenomics of Siphon Finance consist of a total supply of 100,000 tokens, out of which -51,173 tokens are currently in circulation. Understanding the tokenomics is crucial for potential investors, as it sheds light on the token's distribution and availability, which can directly impact its value and demand in the market.
Wallet Support
In order to securely store your Siphon Finance tokens, you can use a variety of wallets such as Trust Wallet, MetaMask, SafePal, Coin98. These wallets provide a safe environment for managing and storing your digital assets. It's essential to select a wallet that supports the specific cryptocurrency and offers a high level of security, user-friendliness, and compatibility with your preferred devices.
Popular Exchanges
To buy, sell, or trade Siphon Finance, you can use various popular exchanges such as ArkenSwap, Trader Joe. These platforms offer a seamless experience and allow you to manage your investments in Siphon Finance with ease. Always remember to conduct thorough research before choosing an exchange, as the security and reliability of the platform are crucial for your digitalassets.
