Synapse: Investigating "unusual activity" of a liquidity provider.
BlockBeats news on September 6th reported that Synapse, a cross-chain liquidity protocol, has noticed that one of its liquidity providers has sold their SYN tokens and removed liquidity. The team is investigating any abnormal wallet activity and is trying to contact the liquidity provider. Additionally, there are no security vulnerabilities in the Synapse protocol and bridging.
Although no specific name was mentioned, it seems to be referring to Nima Capital. Yesterday, Nima Capital suddenly sold 9 million SYN tokens, causing a short-term price drop.
Nima Capital was designated as Synapse's first market-making partner in March of this year. According to the relevant proposal, Nima Capital promised to provide market-making services to Synapse for 12 months with a scale of 40 million US dollars. However, they have removed liquidity ahead of schedule, with 8 months remaining until the end of their promised service period.