When was Synapse(SYN) coin issued?

Synapse (SYN) emerged as a key enabler of cross-chain liquidity, allowing seamless asset transfers and optimized swaps between various blockchain ecosystems.

Nov 29, 2024 at 11:25 am

Synapse (SYN) Coin: A Comprehensive Overview

Introduction:

Synapse (SYN) is a decentralized cross-chain liquidity protocol that enables seamless and efficient asset transfers between different blockchains. By bridging liquidity between disparate networks, Synapse empowers users to participate in various DeFi activities, explore new investment opportunities, and overcome the limitations of isolated blockchain ecosystems.

History and Issuance:

• Genesis Block: Synapse's genesis block was mined on July 29, 2021, marking the official launch of the protocol.
• Coin Issuance: The SYN coin was issued simultaneously with the launch of the mainnet.

Functionality and Key Features:

• Cross-Chain Liquidity: Synapse facilitates cross-chain asset transfers through a network of liquidity pools and routing mechanisms. It supports a diverse range of tokens and blockchains, including Ethereum, Polygon, Avalanche, Fantom, and more.
• Optimized Swaps: Synapse's routing algorithms optimize token swaps to find the best exchange rates and minimize slippage. Users can seamlessly swap tokens between different chains with low transaction fees and fast settlement.
• SDK and API: Synapse provides a comprehensive SDK and API for developers to integrate its cross-chain functionality into their applications. This enables seamless cross-chain interactions and liquidity access for users.

Tokenomics and Distribution:

• Total Supply: The total supply of SYN is capped at 100 million tokens.

• Token Distribution: SYN tokens are distributed according to the following allocation:

  • 50% for community incentives (liquidity mining, staking, rewards)
  • 20% for the core team and advisors
  • 15% for investors
  • 10% for the ecosystem development fund
  • 5% for strategic partners

Use Cases and Applications:

• Interoperability: Synapse enables users to bridge assets between different blockchains, facilitating interoperability and seamless transactions.
• DeFi Participation: Synapse empowers users to participate in DeFi activities across multiple blockchains, expanding their investment options and earning potential.
• Asset Management: Users can diversify their portfolios and manage their assets across different chains through Synapse's cross-chain capabilities.
• Innovation: Synapse serves as an infrastructure layer for the development of novel cross-chain applications and services.