Synapse allows users to send tokens from one chain to another almost immediately by using AMMs deployed across 16+ EVM and non-EVM blockchains. 

Synapse is a cross-chain liquidity network that enables fully non-custodial transfers between EVM and non-EVM compatible chains and L2 systems. Synapse was launched in 2021.

SYN tokenholders own and govern the protocol. They currently take a cut of the transaction fees paid by the users (revenue). Synapse’s investors include CMS Holdings, Alameda Research, Primitive Ventures, etc.

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Synapse

# Synapse Earnings Methodology

## 1. Overview

Synapse earnings represents the protocol's net profitability from cross-chain bridge operations, calculated as revenue minus expenses. Revenue comes from fees charged on cross-chain transactions, while expenses consist of SYN token incentives paid to liquidity providers. This metric measures the protocol's financial performance across its multi-chain bridge infrastructure covering Ethereum, Arbitrum, Avalanche, Base, BSC, Fantom, Optimism, and Polygon.

## 2. Data sources

The calculation relies on several key data sources:
- **Bridge event logs**: Parsed Synapse bridge events including `TokenMint`, `TokenWithdraw`, `TokenMintAndSwap`, `TokenWithdrawAndRemove`, and `CCTP_CircleRequestFulfilled` events from supported blockchains
- **Reward distribution events**: `MiniChef_Harvest` events capturing SYN token reward distributions across all supported chains
- **Token metadata**: Mapping data for Synapse native tokens (ntokens) to their alternative token addresses for price lookups
- **Price feeds**: End-of-day token price feeds for fee and reward token conversions to USD

## 3. Step-by-step calculation

### Component A: Revenue calculation
- **Purpose**: Captures fees earned from cross-chain bridge transactions
- **Logic**: The system processes multiple types of Synapse bridge events across eight blockchains. For each event, it extracts the `fee` amount charged to users for cross-chain transactions. Since some fees are paid in Synapse native tokens (ntokens like nUSD and nETH), the system maps these to alternative token addresses using predefined mappings (e.g., nUSD to DAI, nETH to WETH) to ensure proper price lookups. All fee amounts are converted to USD using end-of-day price feeds with proper decimal adjustments. The data is aggregated daily by chain, with business dimensions set to "Bridging" business line, "bridges" market sector, and "amm" business segment.
- **Key fields**: `fee` (extracted fee amount), `token_address` (fee token, potentially mapped from ntoken), `chain` (source blockchain), `block_timestamp` (transaction timing)

### Component B: Expenses calculation  
- **Purpose**: Tracks SYN token incentives paid to liquidity providers as protocol expenses
- **Logic**: The system processes `MiniChef_Harvest` events across all supported chains to capture SYN token reward distributions. The `amount` field from these events represents reward tokens distributed to liquidity providers. For pricing consistency, all SYN rewards use the Ethereum-based SYN token address regardless of the actual distribution chain. This approach ensures uniform price lookups since SYN token prices are referenced from Ethereum. Reward amounts are converted to USD using end-of-day price feeds and aggregated daily by chain with the same business dimension classifications as revenue.
- **Key fields**: `amount` (reward amount distributed), `token_address` (SYN token address), `chain` (distribution blockchain), `block_timestamp` (reward timing)

### Final aggregation
- **Combining components**: The earnings calculation subtracts total daily expenses from total daily revenue using the `calculate_earnings` macro, maintaining chain-level granularity and business dimension consistency
- **Currency conversion**: All monetary values are converted to USD using end-of-day token price feeds with automatic decimal corrections based on token specifications
- **Time aggregation**: Transaction-level data is aggregated to daily boundaries using timestamp truncation, ensuring consistent daily reporting across all chains
- **Final calculation**: Daily earnings = daily revenue - daily expenses, with missing data points filled with zeros to ensure complete time series coverage and chain availability filters applied to maintain data quality standards

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Net profit (also profits, net income, profitability) — revenue remaining after subtracting expenses.

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Earnings

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