SYN
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Introduction
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1. Project introduction
Synapse is a cross-chain layer ∞ protocol powering frictionless interoperability between blockchains. By providing decentralized, permissionless transactions between any L1, sidechain, or L2 ecosystem, Synapse powers integral blockchain activities such as asset transfers, swaps, and generalized messaging with cross-chain functionality - and in so doing enables new primitives based off of its cross-chain architecture.The Synapse network is secured by cross-chain multi-party computation (MPC) validators operating with threshold signature schemes (TSS). The network is leaderless, and maintains security by each validator running the same process upon receiving on-chain events on the various chains that the MPC validator group tracks. Once two-thirds of all validators have collectively signed the same transaction using their own individual key, the network achieves consensus and issues a transaction to the destination chain.
2. Investment institution
Three Arrows Capital, Alameda Research, CMS Holdings
3. Application and distribution
Token application:
SYN is the asset that powers the Synapse Ecosystem. It is used for community governance votes via the SynapseDAO, as an incentive for the liquidity providers that enable the protocol's cross-chain functionality, and as a subsidy to pay for the gas expended by network validators to secure transactions across the network.
Token distribution:
SYN Genesis Airdrop: 62.0%
Future Distributions (to be determined by Synapse DAO): 26.8%
Prior Distributions to Liquidity Providers: 7.9%
Synapse Protocol-Owned Liquidity: 2.2%
Synapse DAO Loan to Market Markers: 1.2%
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