An interoperable Ethereum (ETH)-based decentralized finance (DeFi) platform is gaining massive popularity after suddenly gaining support from Binance.
The world’s largest cryptocurrency trading platform by trading volume has announced that it will be adding futures contracts for its interoperability protocol, Synapse (SYN).
“To expand the trading options offered by Binance Futures and enhance users’ trading experience, Binance Futures will launch SYNUSDT perpetual contracts at 2024-08-16 12:30 (UTC) with up to 50x leverage.”
The news of the listing sent the project’s native asset, SYN, soaring. At the time of writing, SYN is trading at $0.522, up a whopping 32% in the last 24 hours.
According to the project’s official website, Synapse, which launched in August 2021, is a cross-chain network compatible with most other Layer 1 and Layer 2, including but not limited to Binance’s BNB Chain, Arbitrum (ARB), Optimism (OP), Avalanche (AVAX), Dogecoin (DOGE), Polygon (MATIC), and more.
Other major compatible chains include Fantom (FTM), Blast (BLAST), and Base, the blockchain of Coinbase, the largest U.S. cryptocurrency exchange by trading volume.
“Synapse consists of a cross-chain messaging framework and an economically secure way to reach consensus on the validity of cross-chain transactions, enabling developers to build truly native cross-chain apps…
Synapse Bridge is built on cross-chain infrastructure, allowing users to seamlessly transfer assets across all blockchains.”
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