SYNO is in the process of shutting down. Please withdraw your funds as soon as possible. discord.gg/cQ3WXEaHnE
- Tweets 791
- Following 16
- Followers 20,450
- Likes 846
Pinned Tweet
As of today, weโve made the difficult decision to wind down SYNO.
- Protocol will be in maintenance mode
- All deposits can be withdrawn
- All borrows can be closed without issue
Please withdraw your funds at your earliest convenience.
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It's official! Our testnet is going live on November 13th!
We need users to submit feedback, break things and contribute to the future of cross-chain lending (and get rewarded of course).
We've allocated a reserve of tokens to reward those who contribute! ๐ค
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๐๐ฒ๐ง๐จ๐ง๐ฒ๐ฆ ๐๐๐ข๐ง๐ง๐๐ญ ๐๐๐ฎ๐ง๐๐ก โ
The cross-chain money market for DeFi power users arrives: ๐/๐๐/๐๐๐๐
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We're excited to announce our first Synonym Amplifier Program, exclusively for $PYTH stakers!
Amplification begins tomorrow! ๐ค
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See you there, Professional. ๐ซก
nitter.app/i/spaces/1ynKOymLRgqJR
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๐๐ง'๐ฆ ๐ง๐๐ ๐, ๐ฃ๐ฅ๐ข๐๐๐ฆ๐ฆ๐๐ข๐ก๐๐.
Synonym Mainnet is live! Seamless cross-chain lending is here.
Start from any chain. No limits. $SYNO incentives are live.
๐ง๐๐ ๐ ๐๐ฆ ๐ ๐ข๐ก๐๐ฌ. ๐ค
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Today we're announcing Synonym Finance, a universal cross-chain credit layer for busy DeFi Professionals ๐ค
Synonym leverages @wormholecrypto, @arbitrum and @circle technologies to provide the best possible cross-chain lending and borrowing experience to users.
Time is money โฑ๏ธ
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We're thrilled to announce Synonym's $1.5M seed round! ๐ค
The round was led by @borderless_cap with participation from crypto-native funds, DAOs and angels from across the space. This raise further compounds our existing treasury from our merger with @neworderDAO.
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Mainnet ๐ค Tomorrow.
Multichain lending is undergoing a massive shift.
Introducing @SynonymFinance, a universal multichain credit layer that is changing the multichain lending game, with their mainnet deploying tomorrow.
Powered by @Wormholecrypto & @circle's CCTP ๐ช
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Synonym: Season One is coming.
Testnet rewards distribution.
Yield-amplifying NFTs.
A new airdrop.
Details coming soon ๐ค
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๐ Synonym x @WormholeFdn Grant Announcement ๐
We're absolutely thrilled to have the support and partnership of the Wormhole Foundation in delivering the future of cross-chain lending.
Funding will go towards expanding the universe of chains and assets available on Synonym!
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Were you one of the esteemed DeFi Professionals who took part in Synonym's Testnet?
We've distributed $SYNO rewards those who did so and gave feedback (~500 addresses) so check your wallet!
๐๐๐ ๐ต๐ฉ๐ข๐ต ๐ฆ๐น๐ต๐ณ๐ข $๐๐ ๐๐ ๐ค๐ฐ๐ถ๐ญ๐ฅ ๐ค๐ฐ๐ฎ๐ฆ ๐ช๐ฏ ๐ฉ๐ข๐ฏ๐ฅ๐บ ๐ด๐ฐ๐ฐ๐ฏ ๐คซ
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It's official Professionals - our testnet is live!
galxe.com/SynonymFinance
Users can now test our cross-chain money market, complete quests and provide insightful feedback. Read on for all details on our testnet as well as our official testnet guide ๐
โ
Available on @Galxe
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In this video, our very own @cheguevara_0x walks through our latest test deployment complete with new CCTP functionality. A snapshot of our testnet so far:
๐ 10K+ active participants
โ๏ธ Live on ETH, ARB and OP Goerli
๐ช๏ธ Enabled by @wormholecrypto
๐ต Supercharged by @circle CCTP
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Q: Wen token?
A: Tomorrow, simultaneous with mainnet launch.
Q: Where token?
A: Liquidity will be seeded on @Balancer in 80:20 $SYNO $ETH pool.
Q: Yield?
A: LPs will earn pool fees based on swap volume, plus boosted yield if you choose to lock your liquidity.
Q: Boosted yield?
A: Yes, once you deposit liquidity to the pool, you can lock the BPT to obtain vlSYNO, which boosts $SYNO emissions. vlSYNO holders also earn a share of Synonym fees paid in wETH.
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New to cross-chain lending? We got you. ๐ค๐ค
Navigate Synonym like a professional with our complete walkthrough video and protocol fundamentals megathread. โฌ๏ธ
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Heads up: We need to slightly delay our Mainnet Launch.
Why? We encountered some last minute UX and stability improvements we need to take care of. We're not cutting corners here.
Wen? We don't expect this delay to be a long one. Detailed estimates coming within 24 hrs ๐ค
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Join us for the official Mainnet Launch Space, featuring the partners that power Synonym!
We're going live on 1/18 at 11 AM EST with:
@Churro808 of @arbitrum
@RobinsonBurkey of @wormholecrypto
@KemarTiti of @PythNetwork
And, of course, our very own @0xbeachball.
RSVP Below. โฌ๏ธ
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Synonym's secure and powerful cross-chain lending is the ideal entry point to the Wormhole ecosystem.
๐
Question: How do I find apps I can use that are built on the Wormhole platform?
Answer: wormhole.com/multichain-apps
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Synonym is coming to Scroll tomorrow! ๐ค๐
Users will be able to take advantage of Scroll's unique zkEVM L2 with collateral from any supported chain.
Join our launch space with @Scroll_ZKP and @wormhole this Wednesday at 11AM ET/3PM UTC! Link below ๐
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Synonym X @wormholecrypto Spaces ๐๏ธ
This Friday at 1pm EST, catch @0xbeachball and @cheguevara_0x as they bring on @WormholeFdn COO @danreecer_ to talk about the rapidly evolving Wormhole ecosystem & where cross-chain lending fits in.
See you there, Professionals.
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Synonym is now live on @Scroll_ZKP! ๐
Scroll is a powerful zkEVM L2 that seamlessly extends the capabilities of Ethereum for users and developers.
Synonym is leveraging the newly added Scroll support from @wormhole to make exploring the Scroll DeFi ecosystem even easier ๐
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Mainnet Launch hype is reaching all-time highs over here at Synonym HQ, so we figured a preview of the finished product was in order. ๐
Deposit on any of these chains and borrow on any of these chains. Minimal clicks, no wrapping or bridging, all in one place. ๐
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๐ญ ๐๐ข๐จ๐ฅ. $๐ญ๐ ๐ง๐ฉ๐. โ
What will you do with seamless cross-chain lending, Professional?
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Synonym is now live on @base! Users can deposit and borrow from any chain into the Base ecosystem ๐ต
Multiple major assets are supported alongside unified-liquidity stablecoins.
Explore the emerging Base ecosystem while maintaining total flexibility with your assets ๐ค
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Powered by @PythNetwork ๐ฎ
Synonym's vision is to create a cross-chain lending experience that feels as smooth as lending on a single chain, and Pyth oracles are instrumental to that goal.
We're thrilled to announce that Synonym is receiving a $PYTH retrospective airdrop!
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Professionals, it's time to enter the Wormhole. โฑ๏ธ=๐ฐ
Seamless multichain lending has arrived to the Wormhole Ecosystem.
@synonymfinance launched this past week, marking a major step forward in unifying money market liquidity.
Powered by @wormholecrypto๐ช๏ธ
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We're launching BIPS: A system to fairly distribute $SYNO and various ecosystem token allocations to users.
Think of it as a 1 stop shop for earning multichain ecosystem rewards.
Allow us to explain (It's quite simple & fully transparent). โฌ๏ธ
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Deep stablecoin liquidity is a critical component of any protocol that DeFi Professionals use on a day-to-day basis.
We're building Synonym with a focus on some of the newest tech implemented by stablecoin issuers.
Enter the @circle Cross-Chain Transfer Protocol (CCTP) โ๏ธ
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Our testnet program will be open for over a month ๐๏ธ
We'll need our DeFi Professionals to:
๐งช Experiment and break things
๐ Report bugs
๐ป Suggest UI improvements
๐ Complete @Galxe quests
These contributions will lead to an even better Synonym Mainnet launch for everyone.
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When Synonym goes live on the 30th, three chains will initially be supported: Arbitrum, Optimism, and Ethereum mainnet.
Today, weโre going to look at some of the juiciest yields these chains have to offer. ๐งโ๐พ
Letโs get a taste of whatโs to come ๐งต
๐๐๐๐ฉ ๐ข๐๐ง๐ ๐๐ฉ๐จ ๐ฌ๐๐ก๐ก ๐๐ ๐๐ซ๐๐๐ก๐๐๐ก๐ ๐ช๐ฅ๐ค๐ฃ ๐ก๐๐ช๐ฃ๐๐?
Chains: @arbitrum, @Optimism, @ethereum
Assets: wETH, wBTC, ARB, OP, wstETH, USDC, USDT
All seven assets are available to supply and borrow on each of these three chains. โ
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Launch Spaces Preview ๐ฟ
Get to know the speakers who will be joining us on Thursday to discuss their ecosystems, Synonym, the cross-chain future, and all the details you need for when Mainnet Launches on 1/30. ๐ฅ
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Gm Professionals, the final Testnet numbers are in. ๐งช
What We Learned:
- Strong demand for cross-chain USDC ๐ฆพ
- Healthy interaction levels across all available chains
- @arbitrum is still the "home chain" for many DeFi users
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Our first CEX listing will be live tomorrow on @gate_io! Weโll be hosting multiple AMAs and trading competitions with their team.
Stay tuned for more details!
Gate.io #Startup Free Offering: $SYNO @synonymfinance
๐๏ธ Subscription: 08:30am, Feb 25 - 07:00am, Feb 26 (UTC)
๐ฐAirdrop Value: $70,000
Claim NOW: gate.io/startup/1209
More: gate.io/article/34714
#GateioStartup #Gateio #Airdrop #launchpad
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Thousands of testnet users have provided tons of quality feedback to the Synonym team. One thing is clear:
The demand for unified @circle $USDC liquidity built on the @wormholecrypto tech stack is massive.
But what strategies does this unlock? Tons.๐
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Mainnet is live, and so is $SYNO.
This means token conversion for @neworderDAO $NEWO holders is now available!
A quick FAQ on how the conversion works. โฌ๏ธ
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Synonym users have already recorded over 86,000 transactions on our testnet ๐คฏ
As we move into Testnet Phase 2, it's time to dig into the activities and numbers a bit more:
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The Synonym team has arrived in the land of opportunity.
If you're in town and want to meet up, be sure to reach out ๐ค
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If only there was a way to participate in this ecosystem while seamlessly borrowing and lending across multiple chains.
๐ $W
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Broke: Earn points and pray for airdrop
Woke: Receive emissions rewards based on protocol usage
Bespoke: Participate in a cross chain ecosystem allocation & distribution mechanism
๐ฝ๐๐๐ ๐
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everyday I wake up
I read the Synonym Testnet Guide
I read the Synonym Testnet Guide
I read the Synonym Testnet Guide
I read the Synonym Testnet Guide
I test the net
bedtime
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Launch Week Numbers ๐ First 48 Hours
Protocol Stats:
Total Market Size = $10.4M
Available Liquidity = $5.5M
Assets Borrowed = $4.6M
Largest Asset Market - USDC 4.92M
SYNO Stats:
Pool Volume = $1M
vlSYNO Locked = 260K
Average Locking multiplier = 18.88x (more on this below)
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According to @DefiLlama, there are over 300 lending protocols on the market. It's a use case that's been established since the early days of DeFi.
So why create another one?
What is Synonym's edge? ๐ค
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You: A DeFi power user who wants to navigate seamlessly between chains
Us: Synonym, a protocol for chain-agnostic lending and borrowing
This Blog: An in-depth exploration of our value proposition
synonymfinance.medium.com/whโฆ
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Our testnet program has now been live for 10 days ๐ค
We've recorded nearly 4,000 active participants in our testnet campaigns and the feedback we've received has been extremely valuable.
We've been pushing improvements in real-time. Here's what we've improved so far:
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Today we're kicking off the Synonym Strategies Series with @redactedcartel and a next-generation LST strategy ๐ค
Redacted recently launched $pxETH, the first product in the DINERO Suite that is positioned to fundamentally reshape how users interact with Ethereum.
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C:\Program Files\synx86\synonymlaunch.exe
ALT Time is money. Leave switching costs behind.
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DeFi Professionals are taking notice of @redactedcartel pxETH, but what does that have to do with Synonym?
We're glad you asked โฌ๏ธ
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๐๐๐๐ฉ ๐ข๐๐ง๐ ๐๐ฉ๐จ ๐ฌ๐๐ก๐ก ๐๐ ๐๐ซ๐๐๐ก๐๐๐ก๐ ๐ช๐ฅ๐ค๐ฃ ๐ก๐๐ช๐ฃ๐๐?
Chains: @arbitrum, @Optimism, @ethereum
Assets: wETH, wBTC, ARB, OP, wstETH, USDC, USDT
All seven assets are available to supply and borrow on each of these three chains. โ
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Phase 2 of our V2 Rollout is here: SYNO.
A completely overhauled app, a new name, UX and enhanced tokenomics - all powered by @wormhole.
Built on top of our recent Optimistic Finality Upgrade, we're now closer than ever to our unified vision for EVM <> Solana lending ๐ค
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Another new asset has been added to Synonym! Users can now access unified multi-chain leverage on @tBTC_project tBTC from @TheTNetwork!
Put your multi-chain tBTC to work across all Synonym markets to earn BIPS, SYNO, W and ARB rewards!
Multi-chain BTC ๐ค Multi-chain lending.
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Temperatures rising. Drinks chilled. SYNO Summer is here! ๐๏ธ
We're releasing rewards for our Season One BIPS earners and kicking off 10 weeks of incentives. Synonym will be distributing huge amounts of SYNO, ARB and W tokens to users, plus points.
Get ready. Let's dive in ๐
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Enhanced testnet registration is now live! ๐
Individuals that complete this registration will receive special perks in the Synonym Professional community.
If you already completed the basic registration we recommend that you verify here as well ๐
app.deform.cc/form/d4290657-โฆ
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Synonym uses a powerful hub and spoke model to give our busy DeFi Professionals the best possible cross-chain lending experience.
But where does this hub live? For us, there was a clear answer:
@arbitrum
Why an Arbitrum hub? ๐
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As a DeFi Professional, you may find yourself asking:
What makes Synonym Finance different?
Synonym is building a lending market with true cross-chain collateral features and a UX that you won't find anywhere else.
Let's explore ๐บ๏ธ
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Tier-one risk analysis ๐ค multi-chain lending.
1/ As part of our partnership with @synonymfinance, a multichain money market protocol, we've launched a dashboard to provide users with insight into key protocol risk and performance metrics.
๐ Market Health
๐ฆ Account Explorer
๐ง Liquidations
Explore the dashboard below ๐
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Two major problems DeFi is facing in 2024:
-Fragmented Liquidity
-Inefficient Bridging
Synonym offers solutions; here's everything you need to know.
Thread & blog โฌ๏ธ
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It's time synons - our first official meme competition is here ๐จ
$1000 in $SYNO and eternal glory in our Discord server is up for grabs.
Join our Discord now for more details - winners will be selected in two weeks!
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We'll be releasing our Galxe campaign, testnet guide and the official feedback/bug submission forms shortly.
1 week to go professionals โฑ๏ธ
In the meantime, sign up for our official testnet and join our community today:
synonym.finance/
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A Unique Ecosystem: The Power of Synonym's Partnerships
Strap in Professionals, we have plenty to cover in this one. ๐งต
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Seamless stablecoin borrowing: Leveraging @circle CCTP ๐ต
-What is CCTP?
-How does it function within Synonym?
-What are the benefits for lenders & borrowers?
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Are you an L2 Maxi who's feeling the @eigencloud restaking FOMO?
Synonym is the easiest way to borrow mainnet ETH with your @arbitrum or @Optimism assets. ๐ก
Here's a restaking strategy guide using Synonym + @renzoai. ๐
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The first truly cross-chain money market powered by @wormholecrypto and @circle #CCTP is available now:
synonym.finance/
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Merry Christmas from everyone at Synonym ๐๐
Wishing you a happy holidays and hoping that the only thing staying un-wrapped is your assets ๐
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Once we receive valuable reports and verify issues, we'll add you to our official reward list.
Those who complete all quests will receive our testnet NFT, special Discord roles and a token reward for their contributions.
DeFi Professionals helping DeFi Professionals ๐ค
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Ecosystem Strategy Series, Part 3: @arbitrum + @JonesDAO_io + @boopthecoin
Taking a break from our usual strategies.
This one is for the meme, yield & Arbitrum degens. Max-long an Arbitrum-native meme, put your ARB to work and generate Smart LP yield + SYNO at the same time ๐
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The Synonym Syndicate is growing! ๐ค
@wormhole community members can now claim a coveted cross-server role and earn rewards across the Social, Community and Research Syndicates!
Claim your cross-server role and check out our Syndicates channels now:
guild.xyz/synonym
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Gm Professionals. Our Analytics Page is now live on the dApp!
Get a real-time view of your Synonym holdings and plan your rewards for the next 3 months. Weโre here to give you the full picture โ not points in a database.
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Cross-chain Security ๐
As fellow DeFi Professionals ourselves, minimizing risk is a top priority at Synonym.
Today we take a closer at some of the security measures in place to ensure users are protected while transacting across multiple chains. โ๏ธ
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Think back to the previous bull market.
Which DeFi vertical skyrocketed, 30Xing its TVL between Q2 '20 and Q4 '21?
LENDING. Largely because borrowing = leverage.
One chain dominated DeFi last cycle, but we're in a cross-chain world now, and cross-chain lending is here. โฌ๏ธ
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Weather is heating up.
Rewards are locked in.
SYNO Summer about to begin.
study next week ๐๏ธ
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We are live with @wormholecrypto, @PythNetwork, and @offchain!
Listen now ๐ค
nitter.app/i/spaces/1ynKOymLRgqJR
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Synonym will launch first on Ethereum, Optimism and Arbitrum.
Today we're highlighting @optimismFND - a powerful rollup with an equally impressive vision for the future of shared security and scalability.
First Optimism, then @BuildOnBase - Synonym is coming for the OP Stack ๐ด
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pxETH from @dinero_xyz (formerly Redacted) is now available for lending and borrowing on Synonym ๐ค
$pxETH is part of Dinero's unique dual-token LST model that powers the highest ETH staking yields in DeFi.
Don't settle for less ๐
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Synonym now supports @clustersxyz names! ๐ค
Clusters is a universal namespace protocol that creates a seamless wallet directory for natively cross-chain users.
Register a universal namespace and easily manage your wallets across all chains:
clusters.xyz/
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