What is Synapse (SYN)?
Synapse (SYN), introduced in 2021, is a token associated with the Synapse protocol, a cross-chain layer for bridging different blockchains. Synapse aims to facilitate seamless asset transfers and communication between disparate blockchain networks. The SYN token is used within the Synapse ecosystem for governance decisions, incentivizing network validators, and transaction fee distribution.
Synapse's mission is to address the interoperability challenges in the blockchain space, enabling more fluid interaction and integration across various blockchain platforms. By doing so, it seeks to enhance the efficiency and utility of decentralized applications and services, making them more accessible and interconnected. The Synapse protocol is instrumental in fostering a more unified and collaborative blockchain environment.