Question 1

What is Syndicate?

Accepted Answer

Syndicate is a network for application-specific blockchains (appchains) where transaction sequencing runs onchain via programmable “Smart Sequencers” on a dedicated L2 (Syndicate Mainnet), while execution happens on each appchain. Mainnet is built with Arbitrum Nitro, targets ~250 ms block times, integrates EigenDA for data availability, supports fast withdrawals via a FastBridge (TEEs + zkVMs), and plans progressive decentralisation. Appchains can choose their rollup framework (Arbitrum Orbit today, OP Stack planned) and settlement layer (e.g., Ethereum, Base) while retaining control over ordering rules, fees, MEV policy, and governance. Commons Chain is the ecosystem hub (an L3 that settles to Base) and hosts staking and emissions.

Question 2

What is Syndicate (SYND) token used for?

Accepted Answer

SYND is an ERC-20 with a fixed supply of 1,000,000,000. 920,000,000 were minted at genesis and 80,000,000 are scheduled to be emitted over 48 epochs of 30 days (~4 years). The current configuration uses a 1.0 decay factor, producing equal emissions per epoch (1,666,666.67 SYND), with emissions projected to start on 1 October 2025.

Primary functions:
- **Network gas:** SYND is used as gas on Syndicate Network and Commons Chain for sequencing and related operations. As the network decentralises, transaction fees are intended to accrue to operators maintaining the network.
- **Staking and emissions:** Holders stake SYND on Commons Chain and direct their stake toward registered appchains, which influences emission distribution. Each epoch’s emissions are split into three pools:
  - **Base (30%)** for all stakers, proportional to stake × time
  - **Performance (30%)** for stakers, mirroring the appchain allocations they backed
  - **Appchain (40%)** paid to appchains, weighted by transaction fees and attracted stake with logarithmic redistribution to support smaller chains

Staker rewards become claimable after each epoch; appchain rewards vest linearly over one year.

Planned evolution:
- **Network security:** Over time, staking is intended to secure the L2 directly, with operators paid in transaction fees while emissions decline in relative importance.

Question 3

Who created Syndicate (SYND)?

Accepted Answer

Syndicate was co-founded in 2021 by Will Papper and Ian Lee. Papper focuses on smart-contract and DeFi development; Lee brings venture and blockchain experience. The core stack is developed by Syndicate Labs, with ecosystem governance expected to shift toward community structures as decentralisation progresses.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	SYND-USD SYND-USD	coinbase	AA	0.008908USD	2.70%	8,713,477.08SYND	927	0.008674USD	0.008981USD
2	SYND-USD SYNDUSD	kraken	AA	0.009740USD	-13.81%	597,961.49SYND	105	0.01130USD	0.01130USD
3	SYND-EUR SYNDEUR	kraken	AA	0.008520EUR	0.00%	3,358.29SYND	4	0.008520EUR	0.008520EUR
4	SYND-USDT syndusdt	huobipro	C	0.007644USDT	-11.71%	853,803.51SYND	242	0.008658USDT	0.008658USDT
5	SYND-KRW SYND_KRW	coinone	C	11.58KRW	-23.26%	4,609.17SYND	9	15.09KRW	24.90KRW