Sypool Co-Founder Explains Vision to DeFi Direct

Sypool takes smart, incremental steps with its testnet to prepare a successful mainnet launch.

Kyle Heise
November 24, 2021
Breaking News

Sypool CoFounder Joins DeFi Direct

The Sypool Co-Founder, Jackson Wong, joined DeFi Direct on Tuesday, Nov. 23, at 17:00 UTC, to discuss the latest testnet launch of the new synthetic asset protocol. The team behind Sypool is easing into the mainnet launch with three testnet rounds before the mainnet launch. The team, according to Wong, is working to finish their product before bringing it to the mainnet properly. 

DeFi Direct Founder Greg, Goon Trades, helped Wong explain how his team is preparing a risk-free environment for users to play with the new testnets. The protocol has implemented a new redesigned user interface (UI), and the impending launch on Solana gives Sypool a solid mainnet to establish a center of activity. 

“We want a full DeFi platform. Our team has been working with a well-known hedgefund in London,” Jackon admitted. “We have really good experience in quantitative data research and development. We have several funds that we hope to try out on the mainnet.” 

The team at Sypool is balancing the need between security and quality by acquiescing to multiple testnet attempts. The team is building a solid platform to help crypto users of all kinds build and cultivate new synthetic crypto assets. 

For a full recording of the talk, check out the DeFi Direct Youtube channel.

What is Sypool

Sypool is an asset management protocol on Solana, which enables investors to exchange fund shares with crypto tokens (i.e., BTC, ETH, SOL…). The idea for the protocol emerged from the combination of off-chain fund companies and packaged asset derivatives. Sypool acts like a composite blockchain fund because the fund shares also act as a token. With Sypool, like traditional funds, investors are offered professional financial services that utilize more “blockchain” ways to benefit fund shareholders.

The protocol offers four main products in the early stage: Index-traking SAP (Synthetic Asset Pool), Trader-based SAP, Structured Yield Fund, and Assets-based quantitative trading SAP.  The protocol has partners in Pyth Network, Parrot Protocol, and LIQ Protocol.

Where to find more about Sypool:

Website | Twitter | Medium | Telegram | Discord 

Kyle Heise

Born and raised in the East Bay of California. He has studied and worked on three continents and lived in eight countries. Kyle resides in San Francisco. Go Giants!