Syndicate completes compensation for bridge incident and burns 12.9 million SYND

Syndicate announced that it has completed compensation for the bridge incident, distributing approximately 12.9 million SYND to affected users on the Commons Chain, and additionally compensating 15% of the total losses. The compensation was sent directly to the affected wallets on the Base chain, with Gas fees covered by Syndicate Labs, requiring no action from users. Meanwhile, Syndicate Labs destroyed an equal amount of SYND from the treasury to reduce circulating supply and relinquished compensation claims for approximately 5.5 million SYND held by itself.