I have been farming this token with stablecoins on their protocol. I would say that the state of their protocol(which is to bridge USDC/DAI/USDT/and their pooled stable coin from one chain to another) is definitely much worse than when I started farming them. With how much support there is on some exchanges. Taking the risk to transfer on synapse is in my opinion not worth it at the moment. With that said, I also see that if there is a need for quick capital flows from chain to chain, especially if there are protocols that are multichain that would probably use things like synapse for on chain proofs of transfers vs a CEX which could obfuscate a protocol’s treasury to a degree.
The Synapse pump to $4 was around the crypto twitter narrative boom, namely for stablecoin bridges.
The only reason I checked out SYN was because of crypto twitter.
