The project Syntern is highlighting a bullish outlook for $SYN (Synapse Protocol) based on the growth of its Hypercall platform, which recently saw premium traded volume increase 10x to $100k/day. Analysis suggests that if Hypercall reaches $100M/day in premium, it could generate ~$200M/year for $SYN buybacks, supporting an illustrative valuation of $16 per token. The ecosystem relies on Hyperliquid for delta hedging, positioning itself as a competitor to established venues like Deribit and Binance.