$SYN Token
As part of the conversion the Total Supply will increase ~49M (19.75%) from 250,000,000 SYN to 299,380,000 SYN immediately. There was no immediate change in the Circulating Supply. The conversion ratio for SYN to CX is 1:5.5.
As part of the conversion, the Total Supply of CX is thus 1,646,590,000 CX. This reflects the above increase in the SYN total supply (299,380,000 * 5.5). There was no immediate change in the Circulating Supply. The additional ~271M CX supply (~49M*5.5) is vested over 4 years with a one year cliff (inflation rate of 4.9%).
Of the 271M CX total supply increase:
66.6% (181,060,000 CX) of the allocation increase is delegated to the team (token grants to current and future contributors). This is vested over 4 years with a one year cliff.
33.3% (90,530,000 CX) of the allocation increase is delegated to Ecosystem & Growth. This is allocated for marketing efforts, grants for builders, security (audits), and other growth initiatives (like trading competitions etc.). This is vested over 4 years with a one year cliff.
The exact numbers are found here.
$SYN is the legacy governance token for the Synapse Protocol. As per SIP - 43, all SYN tokens will be converted to CX. To learn more about the conversion, please see https://docs.cortexprotocol.com/docs/Misc/TokenUpgradeFAQ.
There are no unlocks, all future $SYN emissions are governed by the DAO.
CX Token
The $CX token serves to decentralise the Cortex Protocol, and is used to govern Synapse and Cortex Protocol. More information about Cortex can be found in the Cortex Docs
Liquidity for the $SYN token can be found here:
| Venue | Link |
|---|---|
| Coinbase | https://www.coinbase.com/price/synapse ↗ |
| Sushi | https://www.sushi.com/ethereum/pool/v2/0x4a86c01d67965f8cb3d0aaa2c655705e64097c31 ↗ |
| Revolut | https://www.revolut.com/crypto/price/syn ↗ |
| Binance (Spot) | https://www.binance.com/en/trade/SYN_USDT?type=spot ↗ |
| Binance (Perpetuals) | https://www.binance.com/en/futures/SYNUSDT ↗ |
| Bybit (SYN/USDT) | https://www.bybit.com/trade/usdt/SYNUSDT ↗ |
| HTX | https://www.htx.com/price/syn/ ↗ |
| Kraken | https://www.kraken.com/prices/synapse ↗ |
| KuCoin | https://www.kucoin.com/price/SYN ↗ |
| Velodrome | https://velodrome.finance/deposit?token0=0x4200000000000000000000000000000000000006&token1=0x5A5fFf6F753d7C11A56A52FE47a177a87e431655&type=-1&factory=0xF1046053aa5682b4F9a81b5481394DA16BE5FF5a&chain=10 ↗ |
All $SYN token addresses can be found here.