Synthetix

Synthetix

(SNX)
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About Synthetix

A significant player in the decentralized finance (DeFi) space, this platform provides users with on-chain exposure to both crypto and non-crypto assets, allowing them to collect returns without directly holding the asset. Built on top of the Optimistic Ethereum mainnet, Synthetix provides users with access to highly liquid synthetic assets (synths) which track and distribute returns on the underlying assets.

Opting to create a more robust financial market, the platform provides access to both cryptocurrencies and non-blockchain assets. Initially launched as Havven (HAV) in September 2017, the company then changed its name to Synthetix under the guidance of its founder Kain Warwick.

Synthetix provides users with both a decentralized exchange (DEX) and a means of accessing synthetic assets, without the need for third-party facilitators. Users can autonomously trade and exchange synths, as well as engage in the staking pool. The staking pool allows users to stake their SNX tokens from where they can earn fractions of the transaction fees from the exchange.

SNX tokens are used as collateral on the platform and are locked into smart contracts when synths are created. The maximum supply of SNX tokens is 212,424,133 coins. See the chart above depicting the SNX price data and use the Buy button to start trading.

Key Statistics

Ranking

77

24H Volume

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Circulating Supply

SNX 225.89m

Market Cap

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