馃攳
Synapse Protocol SYN: Beginners guide And Investment Thesis - YouTube
Channel: unknown
[0]
okay today we will be looking into the
[3]
synapse protocol and why it might be
[5]
worth investing in
[7]
i personally use it and i think it's
[9]
both really convenient and promising
[12]
without any further ado let's get to it
[16]
so what is exactly is synapse protocol
[19]
also
[20]
the scene the token is s y and c
[24]
so xenapp is a decentralized bridging
[28]
solution that lets you move assets from
[31]
layer ones side chains or layer twos to
[34]
another for example aetherium to
[37]
avalanche avalanche to arbitrary and so
[40]
on
[41]
synapse is currently the fastest bridge
[43]
in the space by far and it looked really
[46]
interesting
[47]
cnap has its own cross chain automated
[50]
market maker for acid swaps on native
[53]
shades the automated market maker uses
[56]
stable swap function to optimize with
[59]
swaps between stablecoin assets
[63]
so the token
[65]
scene is the governance token for
[68]
synapse and giving the holders right
[70]
over dow governance
[73]
protocol feeds earned from the synapse
[75]
bridge
[76]
are split between the dow and liquidity
[79]
providers
[80]
in the future validators that secure the
[84]
synapse network will be required to
[86]
stake sin
[88]
and will earn a fortune of protocol fee
[91]
for operating within the network
[94]
syn token give voting right over supply
[97]
emission meaning these parameters can be
[99]
managed dynamically
[102]
at different stages of synapse growth
[105]
the value proposition of synonyms is
[108]
important so let us have a look at it
[111]
synapse is the fastest bridge at scale
[115]
that i have used with cross chain
[117]
transfer being completed within minutes
[121]
yes that means it is time to stop
[124]
waiting seven days to transfer your
[126]
assets from arbitron to ethereum
[129]
furthermore when chains caught become
[132]
cloaked and slow oracle-based bridge and
[135]
most other traditional bridge become
[137]
unusable while synapse steel remains
[140]
fast and available
[142]
most dap is encrypted suffer from
[145]
unnecessary complexity which frustrates
[148]
user and limits their adoption
[150]
synonyms is
[152]
actually very simple and intuitive for
[155]
users
[156]
and this shows in the growth of number
[159]
there are currently
[161]
14 different chains available today the
[164]
team ships quickly and the new chain are
[166]
added when needed
[168]
you can see how everything fits together
[171]
when markets are hot
[173]
you get a fast bridge that is simple to
[175]
understand and enable bridge across
[177]
cheaper chains
[179]
potential for any change to any chain
[182]
transfer you might also find arbitrary
[185]
opportunities to benefit risk-free gains
[188]
from full imbalances
[190]
unlike some other bridges with storeship
[193]
funds in a small contract on the source
[196]
chain and minted back token on the
[198]
desktop chain synops work with native
[201]
assets on both shapes
[203]
to bridge usdc synapse make a sequence
[207]
of transaction for the user in one click
[211]
swap usd for n usd on source chain
[216]
mint and usd on the destination chain
[219]
immediately swap end usd for usdc on
[223]
destination shape
[224]
and last send usd to your wallet
[229]
this means you always have normal usdc
[233]
tokens not the synthetic asset backed by
[236]
funds in a bridge smart contract
[239]
i think this gives synapse an improved
[241]
security model relative to the other
[244]
types of bridge right now
[246]
cmaps have a ton of exciting development
[250]
in the pipeline it will recover it for
[252]
you when new exciting news come from
[255]
them so stay tuned and make sure to
[257]
subscribe to not miss out on this
[261]
if you're new to synapse you can find
[263]
the official links down below in the
[265]
descriptions
[267]
go there and check it out
[269]
i think it's quite intuitive but you can
[272]
also read up on their guides on how to
[275]
use the bridge step by step
[278]
so let us look at the synapse
[280]
improvement points and risks some
[283]
improvement points that could be made
[285]
and i believe
[286]
will be made
[288]
is the following batching transaction a
[290]
few times per day having a cascading fee
[294]
schedule to incentivize whale usage
[298]
beefing up security efforts due to
[300]
honeypot nature of business and obvious
[303]
getting more items to breach
[306]
the awesome clear risk with synapse
[309]
which is any bridge is naturally a
[312]
harmonic pot for hackers
[314]
the more synapse is used the more
[316]
incentives there is to find a bug in the
[318]
code
[319]
also funds get co-mingled any stolen
[323]
funds would certainly prefer a fast
[326]
bridge versus a slow one that takes days
[329]
to clear
[330]
an example would be homing advance or
[333]
potential reactories should be a stable
[336]
coin crackdown synapse used
[339]
as an exit bridge therefore a pool would
[342]
be considered tainted
[344]
so what about the competition of synapse
[348]
other projects suggest any swap can
[350]
compete on feed by the steel operate at
[353]
the loss the main competitive advantage
[355]
of synapse protocol is certainly speed
[358]
and user experience since the arbitrage
[361]
cannot wait hours as the opportunity can
[364]
close quickly
[367]
so the conclusion here is i think this
[370]
is a really interesting protocol and
[372]
worth to check out for you all i see
[374]
that there is a lot of potential for it
[376]
and now
[378]
on the elbow that the project all the
[380]
time
[381]
so take a look at it the official link
[384]
is in the description below
[386]
make sure you to subscribe to not miss
[389]
out on update on synapse protocol and
[392]
everything else in crypto
[394]
you were bored
[396]
[Music]
Most Recent Videos:
You can go back to the homepage right here: Homepage