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Syncoin

SYN

Synapse

SYN

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₹48.27

LIVE

24H Low ₹44.97

24H High ₹48.85

Price of SYN today

The current live price of SYN today is ₹48.27, with a 24-hour trading volume of ₹53,15,57,987.19. Our SYN to INR price is updated in real-time. SYN has seen a increment of 1.13% in the last 24 hours. With a live market cap of ₹9,42,12,35,768.33 , the circulating supply is at 196,758,112 SYN coins, with a maximum supply of 250,000,000SYN coins.

Synapse Price History

Date ComparisonAmount Change% Change
Today₹0.88

1.85%

7 Days₹5.96

14.19%

30 Days₹6.35

14.94%

1 Year₹5.81

14.33%

Synapse Price Information

Price Change (1hr)

1.23%

Price Change (24hr)

1.85%

Price Change (7d)

14.19%

Synapse Market Stats

Market Cap

₹9,42,12,35,768.33

Fully Diluted Market Cap

₹11,97,05,81,101.79

24hr Volume

₹53,15,57,987.19

27.07%

Circulating Supply

196758112.41 SYN

Total Supply

250000000 SYN

Things to know about Synapse

What is the token?

Synapse (SYN) is the foundational token of the Synapse protocol, crafted to enhance cross-chain interactions and interoperability across various blockchain platforms. Its objective is to foster a multichain era, allowing for effortless communication between different blockchains. Within the Synapse ecosystem, the SYN token plays several critical roles, such as rewarding liquidity providers, facilitating stakeholder governance through voting, and covering transaction fees on the network. The protocol prioritizes principles like security, ease of use, and streamlined interoperability, aiming to meet the growing need for efficient cross-chain functionality in the blockchain industry.

Tokenomics

  • Total Supply

  • : The token's total supply is 53,811,293.969505 SYN.

  • Utility

  • : SYN incentivizes liquidity providers, enables governance voting, and pays for transaction fees on the network.

  • Distribution

  • : Approximately 92 million SYN are yet to be released, targeting a total of 250 million SYN over 146 weeks.

  • Governance

  • : SYN holders with over 100,000 tokens can propose and vote on governance decisions, including on multiple chains or by delegating votes.

  • Security

  • : The network employs cross-chain multi-party computation validators with threshold signature schemes for security.

  • Emissions

  • : SYN emissions for liquidity mining are adjusted based on pool usage, aiming for a stabilization at 725K SYN per week.

Market Data

As of today #{today’s date}, the price of Synapse is ₹48.27 INR or 0.5454 USD, with a 24-hour trading volume of 6006304.94 USD. The market capitalisation for Synapse is 106454641.45USD. The circulating supply is 196758112.41 Synapse, with the total supply also being 213309149.79 Synapse.

Token Pros and Cons

Pros

  • Cross-Chain Interoperability

  • : Facilitates seamless communication and transactions across different blockchain networks.

  • Governance Participation

  • : SYN holders can participate in governance decisions, influencing the protocol’s development.

  • Incentivization for Liquidity Providers

  • : Rewards users who contribute to the liquidity pools, enhancing the ecosystem’s liquidity.

  • Security Focus

  • : Prioritizes the security of cross-chain transactions, aiming to provide a safe environment for users.

  • User-Friendly

  • : Aims to offer an accessible platform for users, requiring only a wallet connection to start.

Cons

  • Security Risks

  • : Cross-chain operations inherently come with security challenges that the protocol must continuously address.

  • Complexity

  • : The technical complexity of cross-chain communication may pose barriers to entry for some users.

  • Dependence on External Factors

  • : The efficacy of governance and liquidity incentives may depend on broader market conditions and user participation.

  • Regulatory Uncertainty

  • : Cross-chain platforms may face regulatory challenges as they interact with multiple blockchain networks.

  • Competition

  • : Faces competition from other interoperability and cross-chain communication projects.

Why Should You Invest in the Coin?

  • Innovative Cross-Chain Solution

  • : Synapse addresses a critical need for interoperability in the blockchain ecosystem, offering potential growth as the sector evolves.

  • Governance Influence

  • : Holding SYN tokens grants users a say in the protocol’s future development and decision-making processes.

  • Liquidity Provider Incentives

  • : The protocol rewards liquidity providers, potentially offering a passive income stream for participants.

  • Security Measures

  • : With a focus on security, Synapse aims to provide a safer cross-chain communication environment.

  • Growing Ecosystem

  • : Synapse's role and value could increase as more blockchains and applications seek interoperability solutions.

USP of the Coin

  • Extensive Cross-Chain Communication

  • : Synapse stands out for its broad support for cross-chain interactions, including both EVM and non-EVM blockchains.

  • Optimistic Security Model

  • : Utilizes an innovative security approach to safeguard cross-chain transactions.

  • Community Governance

  • : Offers a decentralized governance model, allowing token holders to directly influence the protocol’s direction directly .

Problem the Coin is Solving

Synapse aims to solve the problem of blockchain interoperability by enabling seamless communication and transactions across different blockchain networks. This addresses the fragmented nature of the blockchain ecosystem, where isolated blockchains operate without the ability to interact, limiting the potential for broader adoption and functionality of decentralized applications.

Founder and Team Background

Synapse, based in Singapore, doesn’t publicly list its founders or team members. However, the core team is active on Twitter with usernames AureliusBTC, Socrates0x, Caesar0x, and Trajan. In March 2022, Max Bronstein joined as COO, previously involved with Dharma and an early investor in Coinbase. Synapse is a rebrand of Nerve Finance and has retained key investors from its earlier iteration. The Synapse DAO governs the protocol, involving SYN holders in its development.

ICO Price

  • Synapse (SYN) did not have a traditional ICO. Instead, it was initially launched as Nerve Finance, transitioning to Synapse without a conventional ICO process.

  • Listing Date

  • : Synapse (SYN) was listed on Binance on February 22, 2023.

Risks Associated in Investing in the Coin

  • Security Vulnerabilities

  • : Despite a focus on security, cross-chain protocols are complex and may be susceptible to vulnerabilities.

  • Market Volatility

  • : Cryptocurrency markets are highly volatile, and the value of SYN could fluctuate widely.

  • Regulatory Risks

  • : Changes in regulatory landscapes across jurisdictions could impact Synapse’s operations and token value.

  • Competition

  • : The interoperability space is competitive, with multiple projects vying for adoption.

  • Dependence on Adoption

  • : The success and value of SYN are closely tied to the protocol’s adoption and usage within the blockchain ecosystem.

Whitepaper Insights

The Synapse Network whitepaper presents an innovative cross-chain investment platform to streamline the fundraising process and make it more accessible and equitable for startups and investors across various blockchain ecosystems. It addresses the current complexities and limitations within the DeFi space, such as high entry barriers for small investors and the lack of interoperability between different blockchains, which often hinder the growth and scalability of new projects.

The whitepaper outlines the network’s core offerings, including a decentralized finance (DeFi) platform, a multichain Decentralized Exchange (DEX), and a suite of investment tools designed to facilitate a seamless, secure, and inclusive investment ecosystem. The Synapse Network’s unique selling point is its cross-chain functionality, which allows for the free flow of assets and information across different blockchain networks, thereby expanding the reach and potential of projects hosted on its platform.

Moreover, the document highlights Synapse Network’s commitment to fairness and transparency in project selection and funding. It introduces a governance model that empowers the community to participate in key decision-making processes, ensuring that only the most viable and promising projects receive support. This democratic approach enhances the platform's legitimacy and aligns the interests of investors and project developers.

The whitepaper also delves into the technical architecture of the Synapse Network, including its smart contract framework, security measures, and tokenomics. It explains how the platform’s native token, SNP, facilitates transactions, governance, and incentive mechanisms within the ecosystem. The tokenomics section outlines the distribution strategy, staking rewards, and liquidity provision incentives that are designed to foster a healthy and sustainable economic model for the network.

In summary, the Synapse Network whitepaper presents a comprehensive solution to blockchain investment landscape challenges. Through its cross-chain infrastructure, community-driven governance, and robust economic model, the platform aims to democratize access to investment opportunities, promote innovation, and contribute to the growth of the decentralized finance sector.

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Price as per 01:45 PM • 09 Nov 2024

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What is the price of Synapse (SYN)?

The current price of Synapse (SYN) in INR is ₹48.27 INR.

What is the current SYN market cap?

The current market capitalization of Synapse (SYN) is ₹9,42,12,35,768.33 INR. This value represents the total market value of all coins in circulation, calculated by multiplying the current price of SYN by the number of coins in circulation.

What is the current supply of Synapse (SYN)?

The current supply of Synapse (SYN) is 196758112.41 SYN. This figure represents the total number of coins that have been mined and are currently in circulation.

What is the 24 trading volume of Synapse (SYN)?

The 24-hour trading volume of Synapse (SYN) in INR is ₹53,15,57,987.19. This figure represents the total value of all SYN transactions across various exchanges within the last 24 hours.

How to Buy Synapse (SYN) in India?

To buy Synapse (SYN) via Mudrex, simply sign up and create an account on their platform. Proceed by completing the KYC process to verify your identity. Once verified, deposit funds into your account using the available methods. With your account funded, you're all set to start investing in SYN.

Can I buy Synapse (SYN) with UPI?

Yes, you can buy Synapse (SYN) with UPI on Mudrex, which accepts payments through popular UPI apps like Paytm, PhonePe, and Google Pay, offering a convenient and quick way to invest.

How to Convert Synapse (SYN) to Indian Rupee (INR)?

To convert Synapse (SYN) to Indian Rupee (INR), you can use our SYN/INR conversion rates in real time.

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