Synonym Finance is the cross chain money market built on Wormhole. Synonym leverages a hub and spoke architecture to make cross-chain lending as simple as possible for users. We use the Wormhole xChain technology stack to securely pass transaction information between the core Arbitrum hub and all connected spokes, at launch Ethereum and Optimism.
The fundamental utility of our token (SYNO) is earning yield, fees distribution and governance. We employ a vlSYNO multiplier based model, where users that lock 80/20 Balancer LP Token (SYNO-ETH) will be able to receive a distribution of fees. 40% of fees will be distributed towards vlSYNO participants.
The fundamental utility of our token (SYNO) is earning yield, fees distribution and governance. We employ a vlSYNO multiplier based model, where users that lock 80/20 Balancer LP Token (SYNO-ETH) will be able to receive a distribution of fees. 40% of fees will be distributed towards vlSYNO participants.