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SYN is an Ethereum token that powers Synapse, a protocol for bridging and swapping assets across chains, earning yield, and more. SYN can be used to vote on the future of the protocol, and can be awarded to network liquidity providers. Synapse also plans to develop a proof of stake blockchain called Synapse Chain in which validators can stake SYN to help secure the network.
Synapse (SYN) is an interoperability protocol that strives to facilitate the transfer of data across different blockchains. It enables users to move and swap their assets across various chains, including layer 1, layer 2, and sidechain ecosystems. The Synapse ecosystem comprises six components: the Synapse Bridge technology, the cross-chain AMM, aggregative cross-chain communication, the SYN token, the Synapse Chain, and optimistic security approaches. The Synapse Bridge strives to enable users to swap on-chain assets across multiple EVM and non-EVM blockchains. The SYN token powers the entire Synapse ecosystem, and the Synapse Chain is an Ethereum-based optimistic rollup designed to serve as a sovereign execution environment for cross-chain use cases.
Synapse operates using a stableswap algorithm to strive to facilitate the transfer of users' assets between different ecosystems while maintaining slippage, liquidity pool balances, and transaction prices. Its generalized messaging system aims to send any arbitrary data across chains. This means applications no longer have to be separately deployed across multiple blockchains; they can be deployed on a single chain and communicate with other chains to create the same user experience from one central application layer. The Synapse Chain offers developers a generalized smart contract interface for building natively cross-chain use cases by leveraging Synapse’s cross-chain messaging system. Applications built on Synapse Chain can execute their business logic across any blockchain.
Synapse seeks to enhance the interoperability of blockchains, allowing users to move their assets between different networks more efficiently. This can be particularly useful for decentralized applications (dApps) that need to operate across multiple blockchains. The Synapse Bridge technology strives to enable users to swap on-chain assets across multiple blockchains. This can be beneficial for users who want to take advantage of different features or opportunities available on different blockchains. Additionally, the Synapse Chain offers a platform for developers to build natively cross-chain use cases, expanding the potential applications of blockchain technology.
Synapse, based in Singapore, is the rebranding of Nerve Finance, the first stableswap AMM on the BNB Smart Chain (BSC). In August 2021, the project rebranded to Synapse Protocol and modified its business model, but it kept its key investors, including Three Arrows Capital, CMS Holdings, Alameda Research, Immutable Capital, Primitive Ventures, DeFiance Capital, and Mechanism Capital. The Synapse community governs its protocol through a decentralized group of SYN holders, known as the SynapseDAO. Community members guide the protocol’s development by voting and participating in governance activities. As of March 2023, there are 139,773,376 SYN in circulation.
Synapse is a universal interoperability protocol that aims to facilitate cross-chain communication, connecting blockchains through an extensible cross-chain messaging protocol. This protocol supports assets, smart contract calls, and more, allowing developers to build truly cross-chain applications. Synapse strives to foster the creation of decentralized applications (DApps) such as cross-chain decentralized exchanges, lending platforms, margining systems, derivatives markets, and yield aggregators. The Synapse network is operated by cross-chain multi-party computation (MPC) validators using threshold signature schemes (TSS), and it intends to provide an environment for developers. Synapse also implements a support framework to encourage developers to build and deploy their applications on its platform. This includes providing non-monetary incentives for liquidity mining and aims to facilitate bridging through concentrated liquidity pools. By implementing these features and supports, Synapse seeks to support developers and encourage the creation of DApps on its platform.
Governance in the Synapse ecosystem is a key component that strives to manage and protect data within the platform. It includes a system of policies, procedures, and tools that establish community norms, user rights, and responsibilities. These procedures aim to determine who can contribute, access, and use content, while the tools are designed to assist users in navigating Synapse and safeguarding content. In Synapse, data contributors have the ability to control who can access content and under what conditions. For projects that contain sensitive information, it is recommended to implement appropriate safeguards depending on the data type and who can access it. Regular audits are conducted to monitor public activities on Synapse and assess compliance with governance policies. This governance system aims to support responsible data sharing and assist users in adhering to relevant privacy and regulatory requirements for using biomedical data.
The Synapse blockchain is a platform that supports a broad array of applications and use cases. It is often employed in sectors that necessitate cooperation between multiple parties or data exchange. For instance, it is frequently used in supply chain tracking, trade finance, digital assets, and identity management. Some businesses use Synapse for certain ERP functions, such as vendor management and supply chain management. Synapse is also used in the healthcare sector, where it aims to enhance payment processing, electronic medical records, provider directories, and data security and exchange. It is also utilized in the financial services sector with the intention of improving settlement speed. In the retail sector, it is used by retailers to interact with their customers.
Synapse is a universal cross-chain protocol that strives to connect EVM and non-EVM chains through generalized message passing. It supports cross-chain asset movements, smart contract calls, and NFTs, enabling developers to build cross-chain applications such as AMMs, lending platforms, derivative markets, and yield aggregators. Synapse started as a stable swap protocol on BNB Chain called Nerve and evolved into a cross-chain bridge. It now emphasizes building a home for natively cross-chain applications via an easy-to-use SDK. Synapse aims to launch Synapse Chain.
Synapse provides multiple transaction types. It features an optimistic security model. It grants access to the Cosmos ecosystem. It includes a developer toolkit. Synapse Chain is another feature, an EVM-compatible blockchain. It is designed to serve as a sovereign execution environment for cross-chain developers.
Synapse's optimistic verification process involves four roles: Notaries, Broadcasters, Guards, and Executors. Security features are provided, including audits, optimistic verification, governance, Synapse Chain and Ethereum, and slashing.
Synapse aims to facilitate seamless cross-chain swaps by acting as a cross-chain bridge designed for interoperability within the decentralized finance (DeFi) landscape. It supports multiple blockchain networks, including Avalanche, Ethereum, Binance Smart Chain, and Polygon. The bridge operates by securely locking users’ native assets on the source chain and issuing equivalent tokens on the destination chain, with the intention of ensuring trustless and secure transfers. This capability is intended to provide users with access to multiple blockchain networks, with potential opportunities for token swaps, staking, and participation in various ecosystems. Synapse seeks to facilitate interoperability and aims to contribute to liquidity pools, with the goal of providing a user experience that aligns with its design goals. Synapse also seeks to support the development of decentralized applications and finance solutions.
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Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
$150.4M
$3.6M
186.4M SYN
8 days
#341
$4.53
-0.37%
-3.01%
+1.38%
-10.1%
-28.67%
+30.49%
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237 unique individuals are talking about Synapse and it is ranked #743 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, Synapse has an average sentiment score of 3.5 out of 5. Finally, Synapse is becoming more newsworthy, with 0 news articles published about Synapse. This is a 0% increase in news volume compared to yesterday.
On Twitter, people are mostly bullish about Synapse. There were 51.43% of tweets with bullish sentiment compared to 3.81% of tweets with a bearish sentiment about Synapse. 44.76% of tweets were neutral about Synapse. These sentiments are based on 105 tweets.
On Reddit, Synapse was mentioned in 0 Reddit posts and there were 0 comments about Synapse. On average, there were more upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.
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237 people
109 posts
0.01%
#743
3.5 out of 5
105 people
51.43%
Bullish
44.76%
Neutral
3.81%
Bearish
SYN/CAD (Canadian Dollar)
CA$1.10
SYN/JPY (Japanese Yen)
¥125.38
SYN/INR (Indian Rupee)
₹67.10
SYN/BRL (Real)
R$4.11
SYN/EUR (Euro)
€0.74
SYN/NGN (Nigerian Naira)
NGN 1,183.55
SYN/KRW (South Korean Won)
₩1,090.70
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The price of Synapse has decreased by 0.37% in the last hour and decreased by 3.01% in the past 24 hours. Synapse’s price has also risen by 1.38% in the past week. The current price is $0.81 per SYN with a 24-hour trading volume of $3.60M. Currently, Synapse is valued at 82.23% below its all time high of $4.53. This all-time high was the highest price paid for Synapse since its launch.
The current circulating supply of Synapse is 186,418,013.532 SYN which means that Synapse has as total market cap of 186,418,013.532.
We update our Synapse to USD currency in real-time. Get the live price of Synapse on Coinbase.
The current market cap of Synapse is $150.42M. A high market cap implies that the asset is highly valued by the market.
The all-time high of Synapse is $4.53. This all-time high is highest price paid for Synapse since it was launched.
Over the last 24 hours, the trading volume of Synapse is $3.60M.
Assets that have a similar market cap to Synapse include NYM, inSure DeFi, CUDOS, and many others. To see a full list, see our comparable market cap assets.
The current circulating supply of Synapse is 186 million.
The median time that Coinbase customers hold Synapse before selling it or sending it to another account or address is 8 days.
Synapse ranks 201 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
Currently, 81% of Coinbase users are buying Synapse. In other words, 81% of Coinbase customers have increased their net position in Synapse over the past 24 hours through trading.
Yes, Synapse is currently available on Coinbase’s centralized exchange. For more detailed instructions, check out our helpful how to buy Synapse guide.
Certain content has been prepared by third parties not affiliated with Coinbase Inc. or any of its affiliates and Coinbase is not responsible for such content. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content. Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset. Prices shown are for illustrative purposes only. Actual cryptocurrency prices and associated stats may vary. Data presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges.