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 Token incentives Methodology

## 1. Overview

The synapse token incentives metric measures the total USD value of SYN token rewards distributed to users through Synapse's liquidity mining program across multiple blockchains. This metric tracks daily incentive spending by aggregating reward claims from MiniChef contracts deployed on eight different chains. The calculation provides insight into Synapse's token distribution strategy and the cost of incentivizing liquidity provision in their cross-chain bridge ecosystem.

## 2. Data sources

- **Blockchain events**: Parsed `MiniChef_Harvest` events from eight blockchains (Arbitrum, Avalanche, Base, BSC, Ethereum, Fantom, Optimism, Polygon) containing reward claim transactions
- **Event data**: Transaction hashes, block timestamps, log indices, recipient addresses, and raw token amounts from harvest events
- **External data**: End-of-day price feeds for SYN token conversion to USD values
- **Token metadata**: Token decimal information for proper amount normalization and address mappings

## 3. Step-by-step calculation

### Component A: Reward event extraction
- **Purpose**: Collects all SYN token reward claims across multiple blockchains
- **Logic**: Extracts `MiniChef_Harvest` events from eight different blockchain schemas. Each event represents a user claiming their accumulated SYN token rewards from liquidity mining. The system maps each chain's events to a standardized format with consistent token addresses. For most chains, rewards are mapped to the Ethereum SYN token address (`0x0f2d719407fdbeff09d87557abb7232601fd9f29`) for pricing, while Avalanche uses its native SYN address (`0x1f1e7c893855525b303f99bdf5c3c05be09ca251`) for pricing consistency
- **Key fields**: `block_timestamp` for timing, `address` for recipient identification, `amount` for raw reward quantity, `transaction_hash` and `log_index` for event uniqueness, `token_address` for standardized token identification, and chain mappings for both the actual chain and pricing chain

### Component B: Business categorization and aggregation
- **Purpose**: Applies consistent business classification and performs daily time aggregation
- **Logic**: Groups all reward events by day using timestamp truncation and applies uniform business categorization. All rewards are classified under 'Bridging' business line since Synapse operates as a cross-chain bridge protocol, 'bridges' market sector for the broader bridge category, and 'amm' business segment reflecting the automated market maker nature of their liquidity pools. The aggregation sums all reward amounts by day while preserving chain-level detail
- **Key fields**: Daily `timestamp` boundaries, `business_line` set to 'Bridging', `market_sector_id` set to 'bridges', `business_segment_id` set to 'amm', `chain_id` for chain identification, and aggregated `token_incentives` amounts

### Component C: USD conversion and decimal correction
- **Purpose**: Converts raw SYN token amounts to standardized USD values
- **Logic**: Applies the convert_to_usd_and_correct_decimals macro to normalize token amounts by applying proper decimal correction based on SYN token's decimal configuration, then converts the normalized amounts to USD using end-of-day price feeds. The conversion uses the mapped pricing chain for each reward token to ensure accurate USD valuation
- **Key fields**: Decimal-corrected `token_incentives` amounts converted to USD values using end-of-day pricing data

### Final aggregation
- **Combining components**: Joins the business categorization with USD-converted amounts and adjusts chain identifiers to use the actual blockchain where rewards were distributed rather than the pricing chain
- **Currency conversion**: USD conversion uses end-of-day SYN token prices with proper decimal handling to account for token precision
- **Time aggregation**: Daily boundary logic truncates timestamps to day level and aggregates all reward claims within each 24-hour period
- **Final calculation**: The finalize_metric_token_incentives macro ensures schema compliance, validates business identifiers, implements a 'fill_zeros' strategy to forward-fill missing days with zero values for complete time series, and applies chain availability filters to only include data for chains that are actively supported in the current time period

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

Value of native tokens distributed as incentives.

SynapseSYN

Token incentives

Token incentives

Competitive landscape

Chain breakdown