Single Finance PriceSINGLE

What is Single Finance (SINGLE)?

Single Finance is a DeFi platform built on the Cronos blockchain that focuses on minimising correlation with the general crypto market. The project describes itself as a super intuitive platform for all DeFi investments, where everything is calculated from the user's injected capital in USD, fully visualised, and accessible within the user's fingertips. Single Finance describes itself as an early DeFi protocol offering USD-based capital-protecting strategies for leveraged yield farmers. Its signature approach is a pseudo-market-neutral strategy, and the project says it launched a liquidity mining past performance database alongside its strategy platform. The native token, SINGLE, has a maximum supply of 1 billion tokens, with a self-reported circulating supply of 157 million SINGLE, representing 15.7% of the total. The project raised $1.2 million in a seed round announced on Dec. 15, 2021, to support the launch of its performance database and strategy platform.

Key Specifications & Tokenomics

• Name: Single Finance
• Symbol / Ticker: SINGLE
• Blockchain: Cronos
• Contract Address (Cronos): 0x0804702a4E749d39A35FDe73d1DF0B1f1D6b8347
• Category: Yield Farming, Governance, Cronos Ecosystem
• Max Supply: 1,000,000,000 SINGLE
• Total Supply: 998,829,918 SINGLE
• Self-Reported Circulating Supply: 157,000,000 SINGLE (15.7%)
• Launch Date: 18 January 2022
• CMC Listing: 19 January 2022
• Official Website: singlefinance.io
• Whitepaper / Documentation: docs.singlefinance.io
• Block Explorer: explorer.cronos.org
• CertiK Rating: 3.7 (out of 5), as listed on CoinMarketCap

Who created Single Finance?

Detailed public information about the founding team and individual creators of Single Finance is currently limited. The project maintains an official presence through its website at singlefinance.io and documentation at docs.singlefinance.io. Community communication channels include X (Twitter), a Telegram community channel at t.me/singlefinanceofficial, and a Medium account under the name "Single Farmer," which has published project updates including a 2023 year-in-review titled "This happened on Single Finance: 2023." The project's seed round announcement, dated Dec. 15, 2021, was distributed through newsfilecorp.com and a Nasdaq press release, indicating an organised effort to communicate with the broader financial community during its early development phase.

How does Single Finance work?

Single Finance operates as a DeFi investment platform on the Cronos blockchain, with a core design philosophy centred on minimising correlation with the general market. All calculations on the platform are based on the user's injected capital denominated in USD, and the interface is fully visualised to make complex DeFi strategies accessible. The protocol's signature offering is a pseudo-market-neutral strategy designed for leveraged yield farmers. This approach aims to reduce exposure to broader market movements while still allowing users to participate in yield farming activities. Single Finance also introduced a liquidity mining past performance database, which provides historical performance data for liquidity mining operations. The platform emphasises capital protection strategies denominated in USD, distinguishing itself from typical yield farming protocols that expose users to full market volatility. Single Finance combines yield earning with automated market maker (AMM) functionality on the Cronos chain. The platform also offers LP Time Machine, a performance analytics tool for liquidity pools across EVM-compatible chains that shows a breakdown of backward-simulated profit and loss based on capital marked to USD, including LP and DEX rewards. The SINGLE token is documented to include several mechanisms for performance fee sharing and for making the token valuable, as detailed in the SINGLE Token documentation page dated Aug. 31, 2023.

What makes Single Finance unique and valuable?

Single Finance distinguishes itself through several firsts in the DeFi space. It is described as the first DeFi protocol offering USD-based capital-protecting strategies for leveraged yield farmers, addressing a common pain point where yield farmers face significant capital risk from market volatility. Its pseudo-market-neutral strategy is a signature approach that seeks to decouple returns from general market direction. The platform's focus on USD-based calculations means users can clearly understand their positions in familiar fiat terms. The launch of a liquidity mining past performance database provides transparency and historical data that can help users make more informed decisions. Single Finance's smart contracts have been audited; audit reports are listed on its CoinMarketCap page. Additionally, the platform's fully visualised interface lowers the barrier to entry for DeFi investments by making complex strategies more understandable for everyday users.

What is SINGLE used for?

The SINGLE token serves multiple functions within the Single Finance ecosystem. According to the project's token documentation, there are several mechanisms for performance fee sharing and for making the token valuable. SINGLE is the protocol's governance token; holders can vote on key parameters including the interest rate model, fee rates, and the distribution of protocol fees and reserves. The performance fee sharing mechanism suggests that token holders can benefit from the fees generated by the platform's strategies. With a maximum supply of 1 billion tokens and a self-reported circulating supply of 157 million, the token economy is designed to support the platform's growth and user incentives. SINGLE is traded on several decentralised and centralised exchanges; check the live markets section for current listings.

How Is the Single Finance ecosystem developing?

The Single Finance ecosystem has been developing since at least late 2021, with key milestones including the announcement of a $1.2 million seed round on Dec. 15, 2021, aimed at launching a liquidity mining past performance database and pseudo market-neutral strategy platform. Documentation updates continued through 2023, with the SINGLE Token documentation page published on Aug. 31, 2023, and the Single Finance Lab documentation page on Sept. 7, 2023. A 2023 year-in-review was published on Medium by Single Farmer. The project maintains a presence on X (Twitter) and Medium. SINGLE is tracked by major market data providers including CoinMarketCap, CoinGecko, Coinbase, Kraken and Crypto.com. The platform is part of the broader Cronos Ecosystem, which includes tokens such as Cronos (CRO), Fulcrom Finance (FUL), and Tectonic (TONIC).

How to mine Single Finance?

Single Finance does not use traditional proof-of-work mining. Instead, users can acquire SINGLE tokens through liquidity mining and yield farming activities on the platform. The project's core offering involves leveraged yield farming strategies, where users inject capital and participate in liquidity provision. The pseudo-market-neutral strategy is designed to generate returns while minimising market correlation. The liquidity mining past performance database helps users evaluate historical performance before committing capital. SINGLE tokens can also be obtained through trading on supported markets. The token's performance fee sharing mechanisms may provide additional ways for participants to earn returns. As with all DeFi yield farming, users should understand the risks involved, including smart contract risk, impermanent loss, and market volatility, before participating.

How to keep your Single Finance Coin safe?

Keeping SINGLE tokens safe requires following general cryptocurrency security best practices. Store tokens in a reputable wallet that supports the Cronos blockchain, and consider using hardware wallets for significant holdings. Never share private keys or seed phrases with anyone. Verify contract addresses before interacting with any token, and use the official Single Finance contract address on Cronos: 0x0804702a4E749d39A35FDe73d1DF0B1f1D6b8347. When using DeFi platforms, check that you are on the official website at singlefinance.io and review the documentation at docs.singlefinance.io. Be aware that Single Finance's smart contracts have been audited, which provides some assurance but does not eliminate risk. Exercise caution with unsolicited messages or offers, and always double-check transaction details before confirming. For long-term storage, consider keeping the majority of tokens in cold storage and only connecting to DeFi platforms when necessary.