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 Transfer volume Methodology

## 1. Overview

Synapse transfer volume measures the total daily value of assets transferred through the Synapse cross-chain bridge protocol, denominated in USD. This metric quantifies the usage and adoption of Synapse's bridge infrastructure by tracking all token transfers facilitated by the protocol across its supported blockchain networks. The calculation aggregates various bridge operation types including deposits, redemptions, swaps, and specialized CCTP transfers, providing a comprehensive view of cross-chain activity volume.

## 2. Data sources

- **Synapse bridge contract events**: Parsed event logs from Synapse bridge contracts deployed across Ethereum, Arbitrum, Avalanche, Base, BSC, Fantom, Optimism, and Polygon networks
- **Bridge operation events**: Multiple event types including `TokenDeposit`, `TokenRedeem`, `TokenDepositAndSwap`, `TokenRedeemAndSwap`, `TokenRedeemAndRemove`, and `TokenRedeemV2` events that capture different bridge operation flows
- **CCTP events**: `CircleRequestSent` events from Cross-Chain Transfer Protocol for USDC-specific bridge transfers
- **End-of-day token price feeds**: Daily closing prices for all tokens transferred through the bridge to enable USD conversion
- **Token metadata**: Token decimal information and contract addresses for proper amount normalization
- **nToken mappings**: Hardcoded mappings between Synapse native tokens (nTokens) and their equivalent alternative tokens for pricing purposes

## 3. Step-by-step calculation

### Component A: Bridge event collection
- **Purpose**: Extract all bridge transfer operations across supported chains and event types
- **Logic**: Query parsed event logs from Synapse bridge contracts across eight blockchain networks. Collect multiple event types that represent different bridge operation flows: standard deposits and redemptions, combined deposit-and-swap operations, redemption-and-removal operations, and updated V2 redemption events. Additionally include CCTP `CircleRequestSent` events for specialized USDC cross-chain transfers. Extract key fields including block timestamp, transaction hash, contract address, token address, and transfer amount from each event
- **Key fields**: `block_timestamp` for timing, `token_address` for asset identification, `amount` for transfer volume, `transaction_hash` and `log_index` for deduplication

### Component B: nToken address substitution  
- **Purpose**: Handle pricing challenges for Synapse native wrapped tokens by mapping them to equivalent tokens with available price feeds
- **Logic**: Apply predefined mappings to substitute nToken addresses with alternative token addresses that have equivalent value and available pricing data. For example, nUSD tokens are mapped to DAI on most chains, while nETH tokens are mapped to WETH. This substitution enables accurate USD conversion since nTokens themselves don't have direct price feeds. The mapping covers 11 different nToken variations across the supported chains
- **Key fields**: `ntoken_address` mapped to `alternative_token_address` with corresponding symbol information for validation

### Component C: USD conversion and normalization
- **Purpose**: Convert all transfer amounts to USD and apply proper decimal corrections
- **Logic**: Apply decimal corrections based on each token's metadata to normalize amounts to standard units. Convert normalized amounts to USD using end-of-day price feeds for the respective token addresses (using alternative addresses for nTokens). This ensures all transfer volumes are expressed in comparable USD terms regardless of the original token's decimal places or denomination
- **Key fields**: `transfer_amount` normalized and converted to `transfer_volume_usd`

### Final aggregation
- **Combining components**: Aggregate all USD-converted transfer volumes by day and chain, maintaining consistent classification with `market_sector_id` set to "bridges" and `business_segment_id` set to "amm"
- **Currency conversion**: All amounts converted to USD using end-of-day price feeds applied to the final token address (alternative address for nTokens)
- **Time aggregation**: Daily aggregation using timestamp truncation to day boundaries, with all transfers within a day summed together
- **Final calculation**: Sum all USD-converted transfer amounts for each day and chain combination, apply chain availability filtering to ensure data completeness, and fill any missing days with zero values to maintain consistent time series data

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

Total value of assets moved across chains through a bridge.

SynapseSYN

Transfer volume

Transfer volume

Competitive landscape

Chain breakdown