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 Chain: Synapse Chain is an Ethereum-based optimistic rollup designed to serve as a sovereign execution environment for cross-chain application.
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.