Synapse Protocol (SYN)

Cross-chain liquidity network, a trustless AMM & bridge. Also its own optimistic rollup based on Ethereum (28-7-2022).

Basics

• Based in:
• Started in / Announced on:
• Testnet release:
• Mainnet release:

Audits & Exploits

• Bug bounty program can be found [insert here].
• From DeFi Safety (19-6-2023):

"Synapse is a multichain bridge and exchange with weak security, getting just a 44%. No audits, no bug bounty reduced the score the most. The team is anon, but they had good code documentation (94%) and ok testing (66%). But the security score was 0% without audits or bug bounty or even excuses. For both admin controls (26%) and oracles (50%) the scores were below a pass. The devs did not respond when we sent them the report. There were simple ways to improve the score (though getting a pass without an audit is a challenge. I would give the bridge a wide berth as security and transparency do not seem high on their priorities."

Token

Utility

• Became an incentive token for its rollup (28-7-2022):

"How does Synapse’s optimistic verification system secure itself? Enter SYN — the economic incentive for the system’s off-chain actors to reach consensus on the validity of cross-chain transactions. Notaries are required to bond SYN to attest to outgoing transactions. Similarly, guards have to stake SYN in order to prevent griefing attacks, a process that regular holders will be able to participate in via DPoS. Dishonest behavior results in SYN being slashed."

Technology

• Whitepaper or docs can be found [insert here].
• Code can be viewed here.

Implementations

• Built on: its own optimistic rollup based on Ethereum (28-7-2022)
• Programming language used:

Transaction Details

• Capacity (TPS):
• Latency:

How it works

• From the chain announcement (28-7-2022):

"Synapse Chain is designed as an Ethereum-based optimistic rollup. By leveraging Synapse’s messaging system and bridge, Synapse Chain will become the organizational hub of all cross-chain activity. Rather than deploy your dapp on ten different chains, why not deploy it on the bridge protocol that’s already connected to every chain? With Synapse Chain, a dapp’s business logic can be hosted on a single execution environment, while simultaneously being able to communicate with all other blockchains. This means "multi-chain" transactions happen atomically, meaning directly on the chain itself.

Fees

• Upon launch of the chain, gas will be paid in ETH, but the DAO may explore ways to tie usage of the chain to SYN (28-7-2022).

Interoperability

• Bridge partner with Terra (17-3-2022).

Roadmap

• Can be found [Insert link here].

Team, Funding and Partners

Team

• Full team can be found [here].

Funding

• Mechanism Capital lists them in their portfolio as of 15-5-2023.

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