SYN Risk

Synapse (SYN)
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DESCRIPTION

Synapse is a universal cross-chain liquidity network that connects blockchains by offering an extensible cross-chain communication protocol that supports assets, smart contract calls, and more. By leveraging Synapse, blockchains can easily and securely interoperate with each other and developers can build truly cross-chain applications including cross-chain DEX, lending platforms, margining systems, derivatives markets, yield aggregators, and much more. Synapse hosts liquidity pools on every chain that it has a bridge to, but the "nexus" stablecoin and ETH pools that underwrite the nUSD and nETH that facilitates this cross-chain functionality are on Ethereum. The SYN token can be bridged to any chain integrated with Synapse, while retaining its ability to be used in governance.
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Synapse (SYN) : https://synapseprotocol.com/landing
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RISKS OF SYN

Any investment in cryptocurrency and digital assets, such as SYN, can include the following general risks:(i) volatility risk and liquidity risk(ii) short history risk(iii) demand risk(iv) forking risk(v) code defect risk(vi) regulatory risk(vii) electronic trading risk(viii) cyber security risk

For additional information of risks associated with cryptocurrency and digital assets, you may refer to the Satstreet Inc Services Risk Statement. In terms of specific risks, as SYN is one of the longest-standing crypto assets and its community base is widely decentralized, there is no central working group or authority to disclose material information to the public regarding SYN. Please note that these risks and the associated summaries or overviews provided for each herein are not intended to be a complete overview of all such risks and, in addition, there may be other risks that come with exposure to SYN. We encourage all users to perform their own due diligence to assess the risks associated with SYN and to determine whether this level of risk is acceptable to them. Neither SYN nor Satstreet guarantees the value of SYN, and holders of SYN will not have any recourse to SYN or Satstreet if the value of SYN declines for any reason whatsoever.

SATSTREET EVALUATION OF SYN

Satstreet Inc. has reviewed and assessed SYN prior to making it available through our services and has concluded that SYN is not a security or derivative under Canadian securities legislation; however, there is a risk that this conclusion could change in the future and that, in such event, Satstreet will be required to halt, suspend, and then remove SYN from its platform as described in the Satstreet Inc. Services Risk Statement.

Further, as indicated above, no Canadian securities regulatory authority has expressed an opinion about SYN, including an opinion that SYN is not itself a security and/or derivative. Based on publicly available information Satstreet has reviewed SYN, including, but not limited to, a review of the following: The creation, governance, usage, and design of SYN, including the source code, security, and roadmap for growth in the developer community and, if applicable, the background of the developer(s) that created SYN. The supply, demand, maturity, utility, and liquidity of SYN. Material technical risks associated with SYN, including any code defects, security breaches and other threats concerning SYN and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them. Legal and regulatory risks associated with SYN, including (i) any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of SYN, and (ii) statements made by any securities regulatory authorities in Canada, other regulators in IOSCO-member jurisdictions, or the regulator with the most significant connection to SYN about whether SYN, or generally about whether the type of crypto asset, is a security and/or derivative.

Last Updated: June 2023

Risk Statements

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