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Synapse

Synapse SYN Price $ 0.559

Rank: 347

939 Watchlists

Blockchain Infrastructure

SYN Price

0.559
2.37%
($ 0.013)
Price Range
LowHigh
$ 0.535$ 0.586

General Info

Contracts/Explorers:

Tags (Sub-Categories):

#Token

Funds and Backers

Description

Synapse is a cross-chain liquidity layer on Ethereum Virtual Machine.

Synapse (SYN) Chart

Synapse price Index provides the latest SYN price in US Dollars , BTC and ETH using an average from the world's leading crypto exchanges.

SYN to USD Converter

Synapse (SYN)SYN

SYN Price Statistics

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Market Cap

$ 120.41M

Fully diluted value

FDV

$ 137.42M

ATH Market Cap

$ 774.52M

24 Trade Vol.

$ 2.53M


Vol. (24h) / MCap

0.021

Max Supply

SYN 250,000,000

Total Supply

SYN 250,000,000

Circulating Supply

SYN 219.07M

(87.6% 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

88.8%

From ATL

104.9%

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 $ 0.559, it has increased +2.37% over the past 24 hours.

Synapse's All Time High (ATH) of $ 4.90 was reached on 24 Oct 2021, and is currently -88.6% down.

The current circulating supply of Synapse is 219.07 Million tokens, and the maximum supply of Synapse is 250.00 Million.

Synapse’s 24 hour trading volume is $ 2.52 Million.

Synapse's current share of the entire cryptocurrency market is 0.00%, with a market capitalization of $ 122.47 Million.

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