Proposal to Integrate Findora on Synapse Bridge

Proposal to Integrate Findora on Synapse Bridge

The proposal would give far more Web3 users access to Findora’s privacy network.

The new proposal on Synapse offers to deploy a bridge to the Findora Network. Findora would become the first privacy-focused chain on Synapse and gain exposure to many new communities if the proposal passes.

TL;DR

❗️Between October 26th and October 29th, Synapse Bridge will vote to integrate the Findora Network.

❗️Synapse is a major cross-chain bridge linking over 16 ecosystems, exposing Findora to new communities.

❗️If the proposal passes, the Findora Foundation and Synapse will create high-yield liquidity pools to promote $FRA, $SYN, and $nUSD, Synapse’s stablecoin.

A cross-chain bridge featuring a DEX and liquidity pools, Synapse connects over 16 EVM and non-EVM chains, including Arbitrum, Fantom, Avalanche, Cronos, BNB Chain, and Polygon. Synapse is a battle-tested project that has handled over $11.45 billion in total bridge transfers. It currently stands at #14 by TVL on Avalanche and #17 on Polygon, according to DefiLlama.

Mutual Benefits

The proposal holds many potential benefits for Findora and Synapse.

For Findora, users on the 16+ ecosystems integrated into Synapse could access Findora and its $FRA tokens with ease, allowing users to exchange their assets for $FRA and experiment with Findora’s confidential transaction functions.

As an example, users on Arbitrum or Fantom could quickly swap nUSD (Synapse’s stablecoin) for FRA to pay gas fees or for staking. Currently, users can only transfer assets from Ethereum and BNB Chain using the Rialto Bridge. By promoting new tokens like $FRA in their Pools section, Synapse would make it easier to discover Findora, helping it attract more users.

For Synapse, it will get to add a unique L1, the first in its network to be privacy-focused with extensive zero-knowledge cryptography research. High-yield pools featuring Synapse’s native token, $SYN, and nUSD tokens will be set up on FairySwap, giving their users more options for yield farming.

Moving Forward

The voting will go live on October 27th, and stay open for three days. If the proposal passes, Synapse and the Findora Foundation will both contribute $13,000 to promote their respective $SYN and $FRA tokens through yield farming rewards.

On the Findora side, Synapse would contribute to FRA/nUSD and FRA/SYN liquidity pools on FairySwap. Synapse would also promote a high-yield FRA liquidity pool on its platform.

About Synapse

Synapse Bridge is a secure cross-chain communication platform connecting over 16 different EVM and non-EVM blockchains. Employing an Optimistic security model, Synapse allows any arbitrary data to be exchanged between chains, including contract calls, NFTs, and snapshots. With Synapse’s AMM liquidity pool model, developers can easily integrate native cross-chain token bridging into their dApp.

Synapse’s total bridge volume currently stands at $11.45 billion, with a cumulative pool volume of $25.39 billion.

Learn more on Twitter, Discord, and their website.

About Findora

Scaling privacy for the future of Web3.

Findora builds privacy through advanced zero-knowledge proof cryptography. An innovative Layer-1, it combines a native UTXO ledger optimized for privacy with an EVM extension for programmability and interoperability. Developers can leverage either model as they build dApps with auditable privacy.

We appreciate our developers and would love to onboard you to the Findora ecosystem. Please reach out, and join our social channels for more.

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Proposal to Integrate Findora on Synapse Bridge was originally published in Findora Foundation on Medium, where people are continuing the conversation by highlighting and responding to this story.