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Synapse

Synapse SYN Price $ 1.13

Rank: 295

892 Watchlists

Blockchain Infrastructure

SYN Price

1.13
2.42%
($ 0.0266)
Price Range
LowHigh
$ 1.10$ 1.19

General Info

Contracts/Explorers:

Tags (Sub-Categories):

#Token

Funds and Backers

Wallets

No wallets found yet

Description

Synapse is a cross-chain layer and protocol powering frictionless interoperability between blockchains

Synapse (SYN) Chart

The Synapse to USD chart is designed for users to instantly see the changes that occur on the market and predicts what will come next.

SYN to USD Converter

Synapse (SYN)SYN

SYN Price Statistics

leaderboard

Market Cap

$ 214.00M

FDV

$ 281.40M

ATH Market Cap

$ 774.52M

24 Trade Vol.

$ 5.29M


Vol. (24h) / MCap

0.0247

Max Supply

SYN 250,000,000

Total Supply

SYN 190,117,589

Circulating Supply

SYN 190.12M

(76% of Max Supply)

Listing Date

27 Sep 2021

All Time High

$ 4.90

24 Oct 2021


All Time Low

$ 0.268

9 Oct 2023


From ATH

77%

From ATL

319.7%

What is Synapse (SYN)?

Synapse operates as a blockchain protocol that aims to provide tools for interoperability. This is largely through its cross-chain messaging protocol that offers support for assets and smart contract calls. In this manner, it allows blockchains to easily and securely communicate with each other. For example, developers can use the Synapse protocol to create decentralized applications such as cross-chain DEX, lending platforms, margining systems, derivatives markets, yield aggregators, as well as other types of applications.

Synapse’s native token is SYN. It has a maximum supply of 250000000 SYN and is used as a means of value transfer within the Synapse ecosystem.

What are Synapse’s key features and how does it work?

Synapse, in essence, operates as a base layer protocol. In this capacity, it has three core components: generalized cross-chain communication, optimistic security model, and synapse bridge. The generalized cross-chain communication is facilitated via Synapse’s messaging system. Arbitrary data is sent across chains securely and seamlessly. This means that applications do not have to be deployed separately on each blockchain, but rather once on one single chain. Synapse’s messaging system then allows crucial information such as smart contract calls to be passed between blockchains allowing applications to operate on different networks.

In short, Synapse’s optimistic verification works by assuming that transactions are honest, whilst a network of off-chain actors work to submit and report proofs of any malicious or fraudulent transactions during the course of an optimistic window, after which a transaction is finalized. This mechanism, supposedly, makes it more costly and difficult for any malicious actors to behave and this improves security.

The Synapse Bridge is a user-facing product. It is built on top of the protocol’s own communication network. It is the first application built using Synapse and allows users to swap assets across EVM and non-EVM blockchains. 

What can SYN be used for?

Synapse smart contracts can be leveraged by developer teams in order to create truly cross-chain compatible applications. Regardless of whether they are base layers, roll-ups, or application-specific chains.

Synapse Price Today

Synapse's current price is $ 1.13, it has increased +2.42% over the past 24 hours.

Synapse's All Time High (ATH) of $ 4.90 was reached on 24 Oct 2021, and is currently -77% down.

The current circulating supply of Synapse is 190.12 Million tokens, and the maximum supply of Synapse is 250.00 Million.

Synapse’s 24 hour trading volume is $ 5.29 Million.

Synapse's current share of the entire cryptocurrency market is 0.01%, with a market capitalization of $ 214.00 Million.

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