Synapse (SYN)
A Universal Interoperability Protocol that Enables Cross-chain Communication.Synapse is a universal interoperability protocol that enables cross-chain communication.
SYN is the native token of the project. The current use cases for SYN include:
- Bootstrapping Liquidity: Incentives to users who provide liquidity on Synapse Network.
- Governance: Any SYN holder with over 50,000 SYN tokens can put forward proposals, which will be voted on by the DAO.
- Economic Security and Delegated Proof of Stake (PoS): Notaries and guards will be required to bond and stake SYN when Synapse Chain goes live.
The project consists of the following major components working in conjunction:
- Synapse AMM: Synapse pools are deployed on each chain interconnecting the Synapse Network enabling rapid and trustless liquidity flows between all chains.
- Synapse Bridge: Synapse Bridge allows users to seamlessly swap on-chain assets across 18+ EVM and non-EVM blockchains.
- Synapse Swap: Users can also use Synapse to swap between native stablecoins or pegged assets on all Synapse-enabled chains at a low slippage.
- Synapse Chain: Synapse Chain is an Ethereum-based optimistic rollup designed to serve as a sovereign execution environment for cross-chain application.
- Synapse AMM: Synapse pools are deployed on each chain interconnecting the Synapse Network enabling rapid and trustless liquidity flows between all chains.
As at February 22th 2023, the total token supply of SYN is 250,000,000. The current circulating supply is 190,000,000 (~76% of total supply).
Learn more about the token distribution of SYN here.