Synapse (SYN)

What is Synapse Protocol (SYN)?

Previously, Nerve Finance was a DeFi Station for Stablecoins in the BSC system, including 3 main products:

• Swap: Swap between Stablecoins like USDT, USDC, BUSD,...
• Bridge: Cross-chain between the Ethereum network and Binance
• Smart Chain.
• Liquidity Pool: Stablecoin Pool with APY up to 60%.

However, in Nerve Finance, everything is still very limited, especially in Bridge products. That's why in the latest version, Synapse Protocol, the team will improve the Bridge product and bring more opportunities for Liquidity Providers through Farming.

With the explosion of networks in the market, including Layer 1 and Layer 2, Synapse wishes to connect liquidity in all networks together to enhance liquidity and bring the best experience to customers. user.

Here are some of the networks that Synapse Protocol is targeting:

• Layer 1: Polygon, Avalanche, Solana, Terra, Fantom, Harmony, Moonbeam, Aurora, Moonriver, Polygon.
• Layer 2: Optimism, Arbitrum, Boba Network

 

Highlights of Synapse Protocol (SYN)

The first highlight is the ability to swap stablecoins with very low slippage compared to some non-Stablecoin AMMs such as Pancakeswap, MDEX, etc. This is what I mentioned in the Nerve Finance article.

Synapse Protocol will save you a lot in terms of slippage. In the example below, I am swapping BUSD to USDT on two platforms Pancakeswap and Synapse Protocol:

• For $1,000, Synapse Protocol saved $2.
• For $10,000, Synapse Protocol saved $20.
• For $100,000, Synapse Protocol saved $200.

If your capital is large, it is necessary to use AMM platforms dedicated to Stablecoins.

The second highlight is the Cross-chain Swap product - allowing you to perform two tasks Swap and Cross-chain right in one transaction.

In the image below, users can Swap USDC (on the Polygon network) to BUSD (Cross-chain to BSC) with just one click.

Bridge & Swap feature on Synapse Protocol.

Currently, Synapse Protocol has Stablecoin Pool on 5 chains, Ethereum, Binance Smart Chain, Polygon, Avalanche and Arbitrum (ETH Pool) and also supports 5 similar chains with Bridge feature.

If you have excess capital, you can Farming at Synapse to receive APY about 30%, this is a pretty good profit for Stablecoins.

Roadmap

In the coming time, Synapse's goal is still to integrate many chains and support many assets to help Synapse's Bridge become the best Bridge in the market.

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