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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Bridges

Synapse

# Synapse Expenses Methodology

## 1. Overview

Synapse expenses represent the daily USD value of SYN token rewards distributed to users across the Synapse protocol's multi-chain bridge infrastructure. This metric captures the protocol's cost of incentivizing liquidity providers and bridge users through token rewards. The calculation aggregates reward distribution events from MiniChef contracts deployed across eight different blockchains, converts the SYN token amounts to USD, and treats these distributions as protocol expenses.

## 2. Data sources

- **Blockchain events**: Parsed `MiniChef_Harvest` events from Ethereum, Arbitrum, Avalanche, Base, BSC, Fantom, Optimism, and Polygon blockchains
- **External data**: End-of-day price feeds for SYN token pricing and USD conversion
- **Token metadata**: SYN token contract addresses and decimal configurations for accurate amount calculations

## 3. Step-by-step calculation

### Component A: Reward event extraction
- **Purpose**: Collect all SYN token reward distributions from MiniChef contracts across supported chains
- **Logic**: Extract `MiniChef_Harvest` events from eight different blockchain networks. Each event contains the user address claiming rewards, the reward amount in SYN tokens, and transaction metadata. The system uses a standardized token address mapping where most chains reference the Ethereum SYN token address for consistent pricing, while preserving the actual originating chain information for proper attribution
- **Key fields**: `block_timestamp` for timing, `address` for the recipient, `amount` for reward quantity, `transaction_hash` and `log_index` for event identification

### Component B: Token incentives aggregation
- **Purpose**: Process and aggregate reward amounts into daily totals with proper USD conversion
- **Logic**: Truncate all event timestamps to daily boundaries and group by chain and date. Convert SYN token amounts to USD using end-of-day price feeds and apply decimal corrections for accurate token quantities. Classify all rewards under the 'Bridging' business line and 'bridges' market sector since these incentives support the cross-chain bridge functionality
- **Key fields**: `timestamp` truncated to day, `real_chain` for the actual originating blockchain, `token_incentives` for the USD-converted reward amounts

### Final aggregation
- **Combining components**: Sum all daily token incentive amounts by chain and date to create comprehensive expense totals
- **Currency conversion**: Apply USD conversion using end-of-day SYN token prices with proper decimal adjustment for token precision
- **Time aggregation**: Aggregate to daily boundaries using timestamp truncation, ensuring all rewards from a calendar day are grouped together
- **Final calculation**: Rename `token_incentives` field to `expenses` to reflect that token rewards represent a cost to the protocol. Apply chain availability filtering to ensure only supported chains are included in the final output

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

Total project operating and incentive expenses.

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Expenses

Expenses

Competitive landscape

Chain breakdown