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Synapse
#1115 SYN

Synapse

+0.49%

$0.13474200

$29,504,802

Total Market Cap

250,000,000 SYN

Circulating Supply

$6,005,136

24h Volume

$29,504,802

Total Market Cap

250,000,000 SYN

Circulating Supply

$6,005,136

24h Volume

Technical analysis

Latest Signals

# Signal Exchange Type Age
Cryptocurrency Converter
Synapse
SYN
Synapse
USD
USD
US Dollar

Synapse can be found on the following exchanges

Logo Exchange Price Pair Spread 24h Volume
Binance logo Binance $0.1358 SYNUSDC $0.00 $147,334
BingX logo BingX $0.1357 SYN/USDT $0.00 $90,661
BitMart logo BitMart $0.1354 SYN/USDT $0.00 $373,506
Crypto.com logo Crypto.com $0.1346 SYN/USD $0.00 $13,386
HitBTC logo HitBTC $0.3437 SYN/USDT $0.00 $0
HTX logo HTX $0.1286 SYN/USDT $0.00 $1,597
Kraken logo Kraken $0.136 SYN/USD $0.00 $39,150
KuCoin logo KuCoin $0.1356 SYN/USDT $0.00 $126,702

What is Synapse (SYN)?

Synapse (SYN) is a cross-chain layer 1 blockchain protocol designed to enable seamless interoperability between various blockchain networks. Launched in 2021, Synapse facilitates the transfer of assets and information across different blockchain ecosystems, solving one of the most significant challenges in the cryptocurrency space: blockchain fragmentation. The Synapse protocol allows users to bridge tokens, swap assets, and communicate across multiple chains including Ethereum, Binance Smart Chain, Polygon, Avalanche, and many others.

How Does Synapse (SYN) Work?

Synapse (SYN) operates through a combination of cross-chain messaging protocols and liquidity pools that enable secure and efficient cross-chain transactions. The core technology behind Synapse includes:

  • Cross-Chain Messaging System: Synapse uses a secure messaging framework that allows for the transmission of data and commands between different blockchains.
  • Liquidity Pools: The protocol maintains liquidity pools on various chains to facilitate token swaps and transfers without requiring users to manually bridge assets.
  • Validators and Security: A network of validators ensures the security and integrity of cross-chain transactions, verifying that assets are correctly transferred between blockchains.

The Synapse Bridge, one of the protocol's main products, provides a user-friendly interface for transferring tokens across chains with minimal fees and fast processing times, making cross-chain operations accessible to all cryptocurrency users.

Staking and Mining in the Synapse (SYN) Ecosystem

Synapse (SYN) offers staking opportunities but does not use traditional mining mechanisms as it operates on a different consensus model than proof-of-work blockchains.

Staking SYN Tokens

SYN token holders can participate in staking to earn rewards and contribute to the network's governance:

  • Governance Staking: By staking SYN tokens, users can participate in governance decisions, voting on proposals that affect the protocol's development and operation.
  • Yield Generation: Stakers earn rewards from transaction fees generated by the protocol, providing a passive income stream for long-term holders.
  • Liquidity Provision: Users can also provide liquidity to Synapse's pools and earn SYN rewards, enhancing their staking returns.

The staking mechanism encourages long-term holding and active participation in the Synapse ecosystem, aligning the interests of token holders with the protocol's growth and success.

No Traditional Mining

Synapse does not employ proof-of-work mining. Instead, it relies on validators who secure the network through staking, making it more environmentally friendly and efficient compared to mining-based cryptocurrencies.

What is Synapse (SYN) Used For?

The SYN token serves multiple purposes within the Synapse ecosystem:

  • Governance: SYN holders can vote on protocol upgrades, parameter changes, and treasury fund allocations.
  • Fee Reduction: Users who hold SYN may receive discounted transaction fees when using the Synapse Bridge and other protocol services.
  • Collateral: SYN tokens can be used as collateral in certain DeFi applications built on or integrated with Synapse.
  • Incentives: The token is used to incentivize liquidity providers and validators, ensuring the protocol maintains sufficient liquidity and security.

As a utility and governance token, SYN plays a critical role in the functioning and evolution of the Synapse protocol, making it valuable to both users and stakeholders in the ecosystem.

SYN Token Distribution

When Synapse (SYN) launched, its token distribution was structured to ensure long-term sustainability and fair allocation:

  • Community Allocation: A significant portion of SYN tokens was allocated to community members through various distribution mechanisms, including liquidity mining programs and community incentives.
  • Team and Development: The development team received a portion of tokens, typically subject to vesting periods to align incentives with the long-term success of the project.
  • Treasury: Some tokens were reserved for the protocol treasury to fund ongoing development, marketing, and ecosystem growth initiatives.
  • Investors: Early investors who supported the project received token allocations, often with vesting schedules to prevent market disruption.

This balanced distribution approach was designed to prevent concentration of tokens while providing sufficient resources for development and growth of the Synapse ecosystem.

Trading Synapse (SYN) with Cryptohopper

Anyone interested in trading Synapse (SYN) can do so efficiently using Cryptohopper's automated trading bot. Cryptohopper allows traders to implement sophisticated trading strategies 24/7 across multiple exchanges, maximizing potential opportunities in the SYN market. With features like technical analysis tools, backtesting capabilities, and customizable trading parameters, Cryptohopper makes trading SYN accessible to both beginners and experienced traders alike. Simply connect your exchange account to Cryptohopper, set up your preferred trading strategy for SYN, and let the automated system handle the trading while you monitor performance.

Additional Information About Synapse (SYN)

Synapse (SYN) continues to evolve with ongoing developments and partnerships that enhance its cross-chain capabilities:

  • Cross-Chain Communication: Beyond simple token transfers, Synapse is developing advanced cross-chain messaging protocols that allow dApps to communicate across blockchain networks.
  • Security Audits: The protocol undergoes regular security audits to ensure the safety of user funds and data during cross-chain operations.
  • Ecosystem Expansion: Synapse is continually adding support for new blockchain networks, expanding its interoperability capabilities to create a more connected cryptocurrency ecosystem.
  • DeFi Integration: The protocol integrates with various DeFi platforms, allowing users to access yield farming, lending, and other financial services across multiple blockchains from a single interface.

As blockchain technology continues to evolve, Synapse (SYN) plays a crucial role in bridging disparate networks, making it an important infrastructure component of the broader cryptocurrency ecosystem.

Latest SYN to USD price calculator

Below are the most popular denominations to convert to USD and back into SYN

SYN US Dollar
0.01SYN 0.00USD
0.1SYN 0.01USD
1SYN 0.13USD
2SYN 0.27USD
3SYN 0.40USD
5SYN 0.67USD
10SYN 1.35USD
25SYN 3.37USD
50SYN 6.74USD
100SYN 13.47USD
250SYN 33.69USD
500SYN 67.37USD
1000SYN 134.74USD
10000SYN 1,347.42USD
50000SYN 6,737.10USD
100000SYN 13,474.20USD
US Dollar SYN
0.01 USD 0.07421591SYN
0.1 USD 0.74215909SYN
1 USD 7.42159089SYN
2 USD 14.84318178SYN
3 USD 22.26477268SYN
5 USD 37.10795446SYN
10 USD 74.21590892SYN
25 USD 185.53977231SYN
50 USD 371.07954461SYN
100 USD 742.15908922SYN
250 USD 1,855.39772306SYN
500 USD 3,710.79544611SYN
1000 USD 7,421.59089222SYN
10000 USD 74,215.90892224SYN
50000 USD 371,079.54461118SYN
100000 USD 742,159.08922237SYN

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