What is Synapse?

Synapse is a cross-chain protocol designed to facilitate interoperability between blockchains by enabling asset transfers, messaging, and swaps across both EVM and non-EVM networks. It features a modular messaging layer and bridging infrastructure, allowing developers to build cross-chain applications such as decentralized exchanges, yield aggregators, and other DeFi tools.

What is SYN?

The native token of the protocol is SYN, an Ethereum-based token that serves as both a governance and utility asset. SYN is used to vote on protocol upgrades, incentivize liquidity provision, and pay transaction and bridging fees. The token has a maximum supply of 250 million SYN, with approximately 212.59 million tokens currently in circulation at the time of publication.

Risk Statement

Before trading any crypto assets it is important to understand the risks. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.

No securities regulatory authority or regulator in Canada has evaluated or endorsed the Crypto Contracts or any of the crypto assets made available through the platform.

Wealthsimple has performed an assessment of whether SYN can be supported by Wealthsimple's platform, including whether SYN is a security and/or a derivative and is being offered in compliance with securities and derivatives laws.

We evaluated SYN based on publicly available information, including (but not limited to):

• 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 first 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 any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of SYN; and
• Statements made by regulators or securities regulatory authorities in Canada and other jurisdictions regarding whether SYN, or generally about whether the type of crypto asset, is a security and/or a derivative.

Wealthsimple monitors ongoing developments related to crypto assets available on its platform for significant changes that may affect Wealthsimple's original assessment of those assets, including Wealthsimple's assessment of the application of securities and derivatives laws. Any significant changes relating to SYN may result in changes to this Crypto Asset Statement and/or Wealthsimple's ability to support SYN.

Like all other crypto assets, there are some general risks to investing in SYN. These include short history risk, volatility risk, liquidity risk, demand risk, forking risk, cryptography risk, regulatory risk, concentration risk, electronic trading risk and cyber security risk. Please review the Wealthsimple Crypto Product Risk Disclosure for additional discussion of general risks associated with the crypto assets made available through the platform.

We emphasize that this Crypto Asset Statement is not exhaustive of all risks associated with trading SYN. Investors should perform their own assessment to determine the appropriate level of risk for their personal circumstances.

Wealthsimple is offering Crypto Contracts in reliance on a prospectus exemption contained in the exemptive relief decision Re Wealthsimple Investments Inc. dated December 18, 2023 (the Decision).

The statutory rights of action for damages and rescission in section 130.1 of the Securities Act (Ontario), and, if applicable, similar statutory rights under securities legislation of other jurisdictions of Canada, do not apply in respect of this Crypto Asset Statement to the extent a Crypto Contract is distributed under the prospectus relief in the Decision.

Last Updated: May 15, 2026