♻️ Introducing veSync: A Overview of the Protocol and Team

4 min readApr 26, 2023

veSync is a community-driven, ve(3,3) DEX on zkSync Era that centralizes DeFi liquidity
This combination results in a unique approach to liquidity provision and governance, featuring custom bribes and dynamic gauge rewards to encourage users to participate in the governance process actively.

🔦 Protocol Overview:

veSync aims to create a more dynamic and efficient DeFi ecosystem by merging these two distinct mechanisms. Users can enjoy higher yields and more tailored DeFi solutions through veSync’s liquidity provision and governance features.

♻️ Key Features of veSync

veSync offers users the following benefits:

Low trading fees and slippage: At launch, veSync provides Stable and Volatile pools, with the Stable pool featuring a trading fee as low as 0.02%. Community-managed deep liquidity reduces trading slippage and enhances the trading experience. veSync plans to introduce a third pool type on veSync V2, the concentrated liquidity pool. veSync V2 developing plan will start after the V1 protocol launch.
Earning governance tokens and trading fees: By providing DeFi liquidity, users can earn all associated trading fees. When users deposit liquidity tokens into a gauge, they can participate in yield farming and earn veSync’s governance token, $VS. The veSync team will carefully review all the detail of protocols requesting to join gauge to ensure the safety and legitimacy of whitelisted protocols.
Active participation in ve(3,3) governance: Governance is a vital aspect of veSync. By locking $VS tokens, users receive a veNFT representing their decision-making power within the protocol. With veNFT, users can vote on various protocol gauges during each epoch and earn gauge trading fees and bribes as return.

To simplify the voting process for ve(3,3) masters in the veSync community, the platform plans to introduce a voting keeper. Users can deposit their veNFT into the keeper and set their preferred gauges, and the keeper will automatically vote on their behalf during each epoch.

👷 The veSync Team

The veSync team consists of experienced professionals from various backgrounds who have worked with different blockchain protocols and companies.

JASMIN: Founder, Ex-security engineer, NYU graduate, active in DeFi communities, built Genki Cats and TProtocol
FRANK: Tech Lead, Solidity Dev since 2017, from Catddle Labs
JW: Tech Advisor, experienced Smart Contract Developer, from Thala Labs, Ex-Amazon
KASO: Frontend Dev, independent Full-Stack Developer
0XBLING: Product Designer & Community Manager, former Product Designer with experience in top-tier Web 2.0 companies
JOHNSON: Team Operation & BD, experienced in team operation and business development

🧙 veSync’s Advisors

In addition to a solid team, veSync is supported by knowledgeable advisors who assist with tokenomics design, business development, strategy, and critical decision-making:

Moni: A community-driven ecosystem for alpha hunters, Moni Wizard is a private group of researchers, builders, and extraordinary creatives focused on generating value together.
Fiery: A ve(3,3) expert from MCLB DAO, deeply understanding ve(3,3) protocol mechanisms and their strengths and weaknesses.

🐱 Launch and IDO Plans

veSync is built on zkSync, an efficient and secure layer-2 solution for Ethereum. As zkSync is still in its early stages, there are numerous opportunities and potential scams and frauds to be wary of.

For veSync, building trust and ensuring a safe launch are top priorities. To achieve these goals, the team has open-sourced all smart contract code on GitHub, allowing users to track progress and review the code anytime. veSync welcomes any inspections, due diligence, community AMA innovations, and voice calls.

Regarding the IDO and launch date, veSync has postponed the event to May 5 (initially scheduled for April 25) to allow comprehensive testing to ensure everything is secure.

The team is committed to avoiding the “coming soon” label and aims to provide a functional and secure platform rather than grabbing funds with beautiful paid promotions and never-live applications.