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SIS Token of Symbiosis
Complete information about SIS token: the token of the Symbiosis protocol. Listings, use cases, the token contract address, tokenomics, etc..
SIS is the token of the Symbiosis protocol. It is used for staking to run relayer nodes in the Symbiosis relayers network and governing the Symbiosis DAO and DAO Treasure. Furthermore, Symbiosis incentivizes users in SIS tokens for participating in the protocol activities such as liquidity provision (check Symbiosis reward programs).
And no doubts, token holders can trade, exchange, or stake it: get SIS tokens via Symbiosis WebApp or Uniswap on Ethereum.
SIS token is deployed on Ethereum and Abitrum. Token holders can bridge their SIS tokens from Ethereum to the BNB chain via the Symbiosis protocol (refer to the SIS on BNB section for more details).
How do SIS tokens get from Ethereum to the BNB chain?
Token holders can bridge their SIS tokens from Ethereum to the BNB chain via the Symbiosis protocol. The same logic is engaged as during cross-chain operations: Schemes 1 and 2 below.
The veSIS program has been launched on the BNB chain!
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Scheme 1. Bridging SIS tokens from Ethereum to the BNB Chain.
Scheme 2. Burning SIS BNB to get SIS tokens on Ethereum.
Important notices for Schemes 1, 2:
Step 5. The Symbiosis protocol mints/releases tokens with a ratio of 1:1 and then withholds an amount that equals the transaction processing fee on the destination blockchain. Please refer to the document Gas Fees for Cross-chain Operations for more details on the fee withholding process.
Step 6. Once the minting/releasing operation is accomplished, the user gets tokens to their address on the destination chain.
Symbiosis owns a Uniswap-like DEX with {SIS BNB / BNB} pair on the BNB chain, which allows users to trade SIS tokens on the BNB chain.
