The application chain infrastructure Syndicate will issue tokens this month, with 2% allocated for airdrops

ChainCatcher news, the application chain infrastructure Syndicate announced on X that it will release the token SYND this month, with a total supply of 1 billion tokens, of which 2% will be airdropped to the community, 15.89% will belong to investors, and 24.99% will belong to the team. SYND is the native Gas token of the Syndicate Network, powering the application chain.

With Syndicate, developers can easily build custom application-specific blockchains (app chains) and use programmable, atomically composable on-chain sorters. Using Syndicate, developers can also create custom transaction sorting rules, empowered protocols, and economic systems, allowing value to flow directly back to their tokenized communities on-chain.

Previously, Syndicate raised multiple rounds of funding led by a16z, with other investors including IDEO CoLab Ventures, Coinbase Ventures, Robot Ventures, Variant Fund, Alliance DAO, Electric Capital, Delphi Digital, CoinFund, and Archetype.