Synthetix Details

Asset Overview

Synthetix

Synthetix

Decentralized synthetic asset platform that provides on-chain exposure to real-world currencies, commodities, stocks, and indices

About Synthetix

Synthetix is a platform for trading derivatives over the Ethereum blockchain. The system creates synthetic assets, or “synths,” that mimic the price movements of offline currencies, commodities, and stocks, as well as other cryptocurrencies, so that traders can bet on them. Traders working in entirely crypto settings can access, and trade against, fluctuations in assets such as US dollars, gold, Tesla stock, or the Nikkei index that would not otherwise be available on blockchains, and without needing to hold the actual assets. 

Synthetix Network Token (SNX) helps the protocol run. SNX is used as the main collateral on the system, and also serves as a “governance token.” A governance token is used to vote and make decisions about the protocol.

Benefits

By trading Synths on Synthetix’s decentralized exchange, called Kwenta, users can invest the ways they want without having to exchange their crypto to fiat currencies. This democratizes access to complex financial products that haven’t traditionally been widely available. Developers can use Synthetix’s platform to build access to synthetic assets into their own projects, and SNX holders can mint synthetic assets, and receive rewards for providing collateral.

Current price:$10.15

Economic Details

Synthetix Details

Ticker
SNX
Max Supply
245,312,500 SNX

Synthetix Resources