Synapse Price

Synapse (SYN) is a cross-chain interoperability protocol launched in 2021 that enables seamless asset transfers between different blockchains. Currently ranked #1024 with a price of $0.05609, SYN has seen a +4.35% change in the last 24 hours. The token has a circulating supply of 219.06M SYN out of a maximum supply of 250M SYN. Synapse operates primarily on Ethereum but is also available across multiple blockchains including Avalanche, Polygon, Fantom, and Arbitrum. The protocol focuses on DeFi applications and cross-chain communication, with a current market cap of $12.28M. SYN token holders can participate in governance decisions and earn rewards through various protocol activities. The 24-hour trading volume stands at $1.15K, reflecting active market participation across its supported ecosystems.

Synapse was created on August 29, 2021. It was launched as a cross-chain interoperability protocol designed to facilitate seamless asset transfers between different blockchain networks. Since its inception, Synapse has established itself as a notable project in the DeFi and interoperability sectors, supporting multiple blockchain ecosystems including Ethereum, Avalanche, Polygon, Fantom, and several others. The token currently has a market cap of $12.28M with a circulating supply of approximately 185 million tokens out of a maximum supply of 250M SYN.

Synapse was founded by Kenzi Wang and Arjun Sethi in 2021. These entrepreneurs established the protocol to address cross-chain interoperability challenges in the DeFi ecosystem. The founding team has extensive experience in blockchain technology and previously worked with Three Arrows Capital. Under their leadership, Synapse has developed into a prominent cross-chain communication protocol that enables asset transfers and message passing between multiple blockchains, including Ethereum, Avalanche, Polygon, and several other networks. The protocol currently ranks 1024 with a market cap of $12.28M.

Synapse operates as a cross-chain interoperability protocol that enables seamless asset transfers between different blockchain networks. The SYN token powers the entire ecosystem and serves multiple functions: 1. Governance: SYN holders can vote on protocol upgrades and parameter changes. 2. Cross-chain bridge: SYN facilitates transfers of assets across supported networks including Ethereum, Polygon, Avalanche, Fantom, and others. 3. Liquidity provision: Users can stake SYN tokens to provide liquidity and earn rewards. 4. Fee structure: A portion of transaction fees (currently priced at $0.05609) goes to SYN stakers. The protocol currently has a circulating supply of 219.06M SYN out of a maximum supply of 250M SYN. With a market cap of $12.28M, SYN has seen +4.35% price movement in the last 24 hours with a trading volume of $1.15K. Synapse has recently migrated to a new token model called Cortex (CX), allowing holders to convert their SYN tokens at a 1:5.5 ratio, enhancing the protocol's cross-chain capabilities and DeFi functionality.

Synapse operates on a cross-chain architecture designed for interoperability between multiple blockchain networks. The technical foundation of SYN includes: 1. Cross-Chain Messaging Protocol: Enables secure communication between different blockchains including Ethereum, BNB Chain, Avalanche, Polygon, Fantom, Optimism, Arbitrum, and others. 2. Bridge Infrastructure: Facilitates asset transfers across supported networks with minimal slippage and competitive fees. 3. Smart Contract System: Built primarily on Ethereum with deployments across 11+ blockchain networks. 4. Security Framework: Implements multi-signature validation and time-locked security measures to protect cross-chain transactions. 5. Liquidity Pools: Uses automated market maker (AMM) mechanisms to provide liquidity for cross-chain swaps. The architecture supports a total supply of 250M SYN SYN tokens with a maximum cap of 250M SYN tokens. The protocol has evolved since its launch in 2021, with recent developments focusing on enhanced security features and expanded cross-chain compatibility.

Synapse has an ambitious roadmap focused on enhancing cross-chain interoperability and DeFi capabilities. Currently ranked 1024, the project is transitioning to a new token model with the migration from SYN to CX tokens at a 1:5.5 ratio, indicating significant protocol evolution. Future development plans include: • Expanding cross-chain infrastructure across more blockchains beyond the current 11+ supported networks • Enhancing liquidity solutions and bridging capabilities • Developing advanced DeFi primitives and Layer 2 integrations • Strengthening DAO governance mechanisms • Implementing rollup technologies for improved scalability The team is actively building partnerships within the broader ecosystem, with particular focus on Ethereum, Arbitrum, Optimism, and other major L1/L2 networks. With a max supply of 250M SYN and current circulating supply of 219.06M SYN, Synapse aims to become a central infrastructure layer connecting the fragmented blockchain landscape by 2031. The protocol's evolution into Cortex Protocol represents a strategic pivot to address more complex cross-chain challenges in the evolving Web3 landscape.