Socrates0x 🟣🌉🟣
@Socrates0x
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Co-founder @ Synapse Labs, contributing to @SynapseProtocol . Reformed Web2 founder, reformed BTC maxi.
Joined March 2021
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The hidden truth of crypto is that it has insane product market fit, it’s regulatory arbitrage.
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Left curve: ppl care about decentralization
Midwit: crypto doesn't have PMFit
Right curve: it has insane PMFit, 50% reg arb & 50% most fun casino
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Never been this excited for what we're doing at
@NerveFinance
, V2 is going to be game changing.
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We're looking to contract an animator for a short marketing video.
If you're a talented animator, DM me an example of your work.
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Synapse has received a 2m ARB($3.8M) grant from Arbitrum DAO.
Anticipating this grant will:
- Accelerate the launch of RFQ bridging
- Incentivise $4B in bridge volume for the Arbitrum ecosystem
- Generate $3M+ in protocol fees
My proposal:
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Put up a proposal to use $5M from Synapse DAO to run an RFQ relayer.
Estimated to save and earn $4.43M over the next 12 months for the DAO:
- Save 2M $SYN in emissions due to RFQ's capital efficiency
- Generate $2.2M in net new fees
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Synapse DAO holdings are sitting at $17M+ in non-native assets. All from fees & grants.
Decentralised, no VCs, just a few anons on the internet building a war chest to take over.
Community source:
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Great data from an Optimism RetroPGF analysis
- Synapse drove 25% of all high value users on Optimism, more than any other app
- 10x more than all other bridges combined.
Interesting data on actual usage vs fake and sybil volume 🤔🤔
Source:
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.
@SynapseProtocol
You are more beautiful today than you were yesterday.
New portfolio page looking good.
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$69M in bridge volume today!
Come at the king, you best not miss 👑
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EIP-4844 is going live in 2 weeks and cutting gas costs 95% for many transactions.
Bridging ETH from Optimism to Ethereum
Current cost: $1.16
After 4844: $0.05
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Incredible write up from
@Crypto_McKenna
on the traction and innovation at Synapse and the future roadmap.
I can speak on behalf of the whole team when I say watching people become organically excited about our products and tech is why we do this💜💜
Upwards and onwards 🚀🚀
1/ The Thesis for Synapse Protocol
One of the most misunderstood assets perhaps in the entire asset class is Synapse Protocol.
Most Individuals view Synapse as a cross-chain bridge but the longer-term vision is much more than that.
Below I will present my thesis for 2024/25…
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Some of these crypto projects gonna make more from Twitter revenue share than protocol fees smh
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100x faster, 10x cheaper.
Lots of work to do.
RFQ average bridge times under 20 seconds, literally 100x faster.
Synapse Bridge is 100x faster than 2 months ago...
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This week has been the most energizing in years.
Can't wait, can't wait, can't wait.
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The best trades in crypto are often in plain sight. They are jarringly simple to the point you feel crazy that no one else is talking about them.
Last cycle when Stake and Gnosis merged, Gnosis set the price a few weeks before completing the merger. The short version is you…
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The pace of innovation at
@SynapseProtocol
and the industry at large makes me so bullish. I remember launching Nerve Bridging on BSC 2 years ago, and 20% of transactions would take 12hrs+.
12 hours to 12 seconds in 2yrs.
Synapse RFQ speeds for bridging from:
Ethereum - 19 seconds
Optimism - 6 seconds
Arbitrum - 9 second
This is just 1 week after launch, try it out.
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We put up a purple EIP-4844 countdown clock cause we can.
We put up a purple EIP-4844 countdown clock cause we can.
"4844 will birth a thousand rollups, Synapse Interchain Network will bring them together."
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The revolution isn't being televised, it's being pushed on Github.
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The Synapse Executor address is the 5th largest gas spender on Ethereum, according to Etherscan.
The best metrics are those hardest to game and involve real dollars 🤔🤔
Source:
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@ThinkingUSD
Ser, can you kindly do the needful and tell me what coin this is? My family needs this.
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@thirdweb
has built some of the best dev tools for crypto developers.
One of the easiest ways to start building on the Synapse Chain testnet -
Synapse Chain is now live on
@thirdweb
Deploy contracts in clicks, not days. Building interchain applications has never been easier.
The fastest way to build on Synapse Chain is now here 👇
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Just did the math, will save nearly 1M $SYN over the next year 🤯🤯
Just the start of RFQ, more to come next week.
RFQ capital efficiency gains are already kicking in. An interesting new proposal to reduce $SYN emissions to liquidity pools.
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it was $2.4M in fees and $3.9B in volume
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@0xhopydoc
Your characterization of Synapse as a "liquidity bridge" is wrong. I don't really understand the distinction you're making.
Synapse is the native token bridge for dozens of tokens, including GMX, JEWEL, LINK, etc.
It's also the native issuer for all assets on DFK chain.
Also,…
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Not only will this make bridging cheaper for users and increase bridge volume, Synapse DAO roughly spends 15-30% of fees on gas costs today.
4(4+4)44
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Truly mindblowing how much the bridge experience has gotten better.
This would be unimaginable a few months ago.
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We will continue building. Devs will continue integrating the Syn stack.
Soon enough every chain and smart contract in the world will be built on the Syn stack. Early days.
Bear markets is when the wheat separates from the chaff.
Incredibly bullish post from
@SynapseProtocol
detailing their plans for their interchain thesis.
Actually a huge development for Ethereum as well and the market barely responded + don't see anyone from $ETH community taking any notice.
Bullish and bearish at the same time.
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Unfortunately,
@DappRadar
doesn't track our ETH and BTC pools yet. Probably close to another B across those pools as well.
Nerve is absolutely killing it.
$2.5B in volume in 30 days.
Crazy to see how fast this platform is growing.
#NRVgmi
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Synapse lifetime volume is higher than Cameroon's GDP and just shy of Tunisia's.
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Every chain, every dapp, every NFT, every token will need decentralized interoperability.
Interoperability networks are as important as L1s and L2s.
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So excited for this launch! It literally feels like magic, complete game changer 🚀🚀
Bridge instantly with near 0 slippage.
Massive shoutout to
@CoWSwap
& others for their early work in pioneering intent-based protocol architecture.
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I met Dovey 7 years ago when she invested in my first tech startup.
Years later, she found Synapse without knowing we were behind it.
Her ability to see the long-term big picture in the space and apply it to the day to day nitty gritty is amazing. This is a great opportunity.
is expanding the team in Singapore (remote work is possible but prefer a similar time zone)
DMs are open for geeks, degens and psyop masters who are driven by genuine curiosity to thrive in this dynamic industry
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Excited to have some of the smartest people in the industry on board! Time to put our heads down and get to work.
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$1.3M bridged in 22 seconds, and the user got a $1300 rebate back.
ohh..
Think again about using bridge aggregators !!
İn bridge aggregator this big bridging transfer took 300 Minutes but in Synapse it took 22 Seconds 👀👏and
This user earned $1300 arb 👀
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🤔🤔
1/ Synapse's 2024 World Domination Plan
Step 1 - Build the best bridge(RFQ is live!)
Step 2 - Use the network effects from bridging to launch the best Interchain Network
Step 3 - Marry the technology with economic incentives
Read more -
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The beauty of Arthur was that he fucked you, told you he fucked you and you still loved him. SBF out here recycling and shit
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Incredibly excited to deepen our partnership with the chads at
@DeFiKingdoms
!
Excited to announce that
@defikingdoms
is built on top of Synapse, enabling native bridging between 20+ chains
Try it out today:
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Been in and out of hospitals for the past week, luckily I'll be fine but really makes you reflect on what's important in life.
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Separately, will do a thread on the launch of RFQ bridging. This is the biggest change since Synapse was launched. Relayers will compete to give users the cheapest possible quote.
Expecting sub 10 second, slippage-free bridging up to $1M+ by the end of the quarter.
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ok g
Chainlink has no competitors
Sure, there are protocols doing price feeds, or cross-chain, or automation, or functions, or whatever
But none of them are a fully-featured all-in-one platform offering in the same way Chainlink is
Google and Microsoft are competitors because they…
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There are weeklys where nothing happens; and there are hourlys where weeklys happen.
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"Only two ways to make money in business: one is to bundle; the other is to unbundle." - Jim Barksdale
4844 is the ETH unbundling moment, 100s more L2s and app-chains. The next phase will be re-bundling and interoperability.
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Chain ID
#444
The wait is over. The Interchain future is here.
Testnet live today!
Synapse Interchain Network: the first Optimistic Proof of Stake Interchain Network
Synapse Chain: An L2 built on the Syn OP stack. Apps deployed have access to all interchain state
Let's go Synterchain 🧵
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@roshunpatel
@matthuang
@AureliusBTC
Excited to announce Matt has offered me and my first born jobs at paradigm.
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We will continue building. Devs will continue integrating the Syn stack.
Soon enough every chain and smart contract in the world will be built on the Syn stack. Early days.
Bear markets is when the wheat separates from the chaff.
We will continue building. Devs will continue integrating the Syn stack.
Soon enough every chain and smart contract in the world will be built on the Syn stack. Early days.
Bear markets is when the wheat separates from the chaff.
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RFQ capital efficiency gains are already kicking in. An interesting new proposal to reduce $SYN emissions to liquidity pools.
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Some men just aren't interested in world domination, you shall know em by their sells.
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Some thoughts last night before I fell asleep.
TLDR: Everyday we work on making the bridge cheaper, faster, and support more use cases. Synapse should be the Uniswap of bridges.
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Much of this war chest was built over the bear market, biding time and slowly expanding. Now it's time to deploy and fucking expand.
More resources are needed to scale the community, partnership and build the technology.
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Excited to share more about Synapse Chain and the Interchain Network. New chains, partnerships, audits, docs, etc
What are top questions & topics you want to hear about?
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Super proud of the whole team at
@SynapseProtocol
. Launched SynChain and the Interchain Network and the next day ETH retakes $1600.
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just use synapse bro
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Perhaps the only indicator of success in startups is shipping speed.
So proud of our team for making
@SynapseProtocol
better and more beautiful every day.
1st screenshot is 6 weeks ago.
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Looks like
@CreamdotFinance
has a bunch of bad debt from the price of SWAG falling 99%.
Users put up SWAG as collateral and took out stables. These loans can't be liquidated since the SWAG left is basically worthless. Interested in a full post mortem cc
@RektHQ
@FrankResearcher
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ETH bridging through RFQ sewn
Synapse team worked hard during the bear season, 👏👏🟣🟣
Now they're shipping a lot, ⛴️⛴️
Rfq made Synapse 1st in Stablecoin bridging,
Now it's time to be 1st in ETH bridging
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Who is this metaverse narrative attractive to? Let’s just abandon the real world and stare at screens taped to our eyes sitting in a closet all day? Tf ngmi
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Synapse passed $50B, beating Jordan, Iceland, Bolivia... should beat Serbia and Croatia this quarter 🥳
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Interchain compute is as important as onchain compute.
L1 gas -> on-chain compute
SIN transaction fees -> interchain compute
The wait is over. The Interchain future is here.
Testnet live today!
Synapse Interchain Network: the first Optimistic Proof of Stake Interchain Network
Synapse Chain: An L2 built on the Syn OP stack. Apps deployed have access to all interchain state
Let's go Synterchain 🧵
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🫡🫡
3/
@SynapseProtocol
announced Synapse X
@SynapseProtocol
introduced their new modular bridging solution Synapse X, which routes transactions through external pools, allowing for more stablecoins supported and better bridge quotes.
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🚀🚀
Just bought more Synapse after realizing it has a bridging speed of less than 5 seconds from ARB to ETH mainnet compared to over 15 min using Hop.
Crazy bullish.
$SYN
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Lots more interesting coming with points & gold 👀
Blast Off! Synapse is live on
@Blast_L2
Bridge ETH & USDB from any of the 20+ chains Synapse Supports.
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@FloodCapital
@BungeeExchange
Thanks for bringing this up.
Here's another example, how many users would prefer to wait 20 minutes to save half a cent...
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A short explainer of Synapse Bridge's modular design. Inspired by
@FloodCapital
's question on yesterday's spaces.
1/ 🟣Modular Bridge Expansion🟣
Synapse's modular bridge design makes it:
- The most capital efficient
- The cheapest and fastest quote for users
- Allows bridging from and to any asset in the future
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get your stripes
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"we’ve seen positive developments in RFQ-based designs and modular architectures, and we believe these approaches are going to gain traction going forward due to security and efficiency improvements they offer."
"we believe that Synapse stands out in terms of usability and…
Exciting to have
@ThanefieldRes
join the Synapse community!
Great piece on why they think Synapse is best positioned in the interoperability ecosystem.
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Never underestimate the power of mid-curvers. UST was driven by mid-curvers who were sidelined and thought earning yield was the "smart and safe" way to get crypto exposure instead.
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Synapse launches 🤝 markets nuking
Like peanut butter and jelly
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"The ultimate end of crypto is the possibility of a future for humanity unshackled from the institutions that seek to limit our growth."
We can't sit still and hope things go our way. Dryden, Charlie and the whole Praxis team are going on the offense to make sure they do.
INTRODUCING PRAXIS
We’re building the city-cryptostate to realize a more vital future.
@PraxisSociety
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Just like 2021, BTC will lead, ETH ETF will start flippening narrative, ETHBTC will top, gluck from there.
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