Question 1

What is Synapse (SYN)?

Accepted Answer

Synapse (SYN) is the native utility and governance token of the Synapse Protocol, which facilitates interoperability between blockchains. The protocol's main aim is to provide seamless cross-chain communication and asset transfers. It achieves this through the Synapse Interchain Network (SIN), which is an optimistic proof-of-stake network that allows communication and settlement between various blockchains.

Question 2

Key Features

Accepted Answer

* **Interchain Network (SIN):** An optimistic proof-of-stake network providing trustless, permissionless, and modular security for cross-chain transactions.
* **Synapse Bridge:** A bridge enabling secure and low-cost asset transfers between 20 chains.
* **Synapse Chain:** An Ethereum-based optimistic rollup using the SYN OP stack, allowing transaction execution and message attestation.
* **Cross-Chain Messaging:** Enables applications to send arbitrary data between chains.

Question 3

What is Synapse (SYN) used for?

Accepted Answer

SYN serves various purposes within the Synapse ecosystem:

1. **Governance:** Holders of SYN can vote on governance proposals concerning protocol upgrades, fee structures, and new features.
2. **Incentives and Rewards:**
    * **Liquidity Providers:** Receive SYN rewards for providing liquidity in Synapse pools.
    * **Bridging Fees:** Fees paid in SYN for asset bridging reward liquidity providers.
3. **Cross-Chain Utility:**
    * **Transaction Fees:** SYN is used to cover cross-chain messaging and transaction fees.
    * **Gas Fees:** SYN can be used to pay gas fees for cross-chain transactions.

Question 4

Synapse Chain as a Layer-2 Solution

Accepted Answer

1. **Layer-2 Rollup:** Synapse Chain is an Ethereum-based optimistic rollup, which is essentially a Layer-2 blockchain built to scale transaction throughput while ensuring security by settling periodically on the Ethereum Layer-1.
2. **SYN OP Stack:** The rollup leverages the SYN OP Stack, an adaptation of Optimism's OP Stack, with added functionalities for native interchain messaging and transaction attestation.
3. **Cross-Chain Integration:**
    * **Interchain Connectivity:** Allows seamless integration between multiple chains for decentralised applications (dApps).
    * **Unified Liquidity:** Facilitates unified liquidity across chains by allowing cross-chain asset swapping and lending.

Question 5

Who created Synapse (SYN)?

Accepted Answer

Synapse Protocol was founded by Max Bronstein, initially as Nerve Finance, before being rebranded to Synapse Protocol. The development team consists of blockchain and DeFi experts who work on expanding cross-chain interoperability features.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	SYN-USDT SYNUSDT	binance	AA	0.1842USDT	-2.04%	6,242,584.40SYN	28,092	0.1881USDT	0.1892USDT
2	SYN-USDT SYN_USDT	gateio	A	0.1840USDT	-2.26%	1,037,516.36SYN	1,978	0.1882USDT	0.1891USDT
3	SYN-USDC SYNUSDC	binance	AA	0.1842USDC	-2.09%	490,930.00SYN	1,064	0.1881USDC	0.1892USDC
4	SYN-USD SYNUSD	kraken	AA	0.1840USD	-2.44%	256,386.91SYN	395	0.1886USD	0.1891USD
5	SYN-USDT SYN-USDT	kucoin	BB	0.1844USDT	-2.07%	203,715.09SYN	431	0.1883USDT	0.1891USDT
6	SYN-USD SYN_USD	cryptodotcom	AA	0.1839USD	-2.36%	63,123.00SYN	202	0.1884USD	0.1885USD
7	SYN-EUR SYNEUR	kraken	AA	0.1656EUR	-1.19%	44,747.25SYN	77	0.1676EUR	0.1676EUR
8	SYN-USDT sSYNUSDT	phemex	C	0.1840USDT	-2.08%	1,942,675.14SYN	8,513	0.1879USDT	0.1895USDT
9	SYN-USDT SYNUSDT	toobit	C	0.1843USDT	-1.95%	1,034,584.20SYN	10,648	0.1879USDT	0.1891USDT
10	SYN-USDT SYNUSDT	mexc	C	0.1843USDT	-1.97%	859,977.43SYN	3,771	0.1880USDT	0.1892USDT
11	SYN-USDT SYN_USDT	bydfi	-	0.1842USDT	-1.93%	725,225.20SYN	3,500	0.1879USDT	0.1892USDT
12	SYN-USDT syn_usdt	digifinex	D	0.1844USDT	-1.86%	697,303.10SYN	9,458	0.1879USDT	0.1892USDT
13	SYN-EUR SYN-EUR	bitvavo	B	0.1647EUR	-1.51%	671,564.68SYN	813	0.1672EUR	0.1672EUR
14	SYN-USDT SYN_USDT	bitunix	C	0.1843USDT	-2.00%	510,225.60SYN	8,339	0.1881USDT	0.1892USDT
15	SYN-USDT SYNUSDT	bitrue	D	0.1843USDT	-1.92%	484,763.50SYN	13,177	0.1879USDT	0.1892USDT
16	SYN-USDT SYN-USDT	bingx	D	0.1847USDT	-1.71%	401,716.48SYN	9,441	0.1879USDT	0.1892USDT
17	SYN-USDT SYN_USDT	bitmart	B	0.1305USDT	0.00%	0SYN	0	0.1305USDT	0.1305USDT
18	SYN-USDT SYNUSDT	latoken	D	0.1841USDT	-1.49%	54,947.82SYN	1,348	0.1869USDT	0.1885USDT
19	SYN-USDT synusdt	huobipro	C	0.1832USDT	0.00%	0SYN	0	0.1832USDT	0.1832USDT
20	SYN-USDT SYNUSDT	hitbtc	E	0.09920USDT	0.00%	0SYN	0	0.09920USDT	0.09920USDT
21	SYN-KRW syn_krw	korbit	C	222.70KRW	0.23%	45.91SYN	1	222.20KRW	222.70KRW
22	SYN-USDT SYNUSDT	coinex	C	0.1725USDT	0.00%	0SYN	0	0.1725USDT	0.1725USDT