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Synthetix

Synthetix

SNX
#182
$0.2295Up 4.88 percent($0.01)

Key Stats

Market Cap$133.34MUp 4.88 percent
Volume (24h)$6.73M
Fully Diluted Value$133.43M
Vol/Mkt Cap (24h)5.04%
Total Supply581.40M SNX
Max Supply∞
Circulating Supply580.98M SNX
Launch Date2020-05-11
Built OnETH
Token StandardERC20
Smart Contract Address0xc011…2a6f
Decimal Places18

Synthetix Information

Websites
www.synthetix.ioWhitepaper
Industries
DeFi

Synthetix Price Converter

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Latest Synthetix News

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Synthetix Soars 120% as Derivatives Hype Reignites DeFi’s 'Dino Coin'
Positive

Synthetix Soars 120% as Derivatives Hype Reignites DeFi’s 'Dino Coin'

Negative

Synthetix Considers Purchase of Options Platform Derive in $27M Token-Swap Deal

Neutral

Synthetix Founder Donated Funds to Beleaguered Ex-Treasurer: EmberCN

Positive

Synthetix Community Approves Plan to Nudge Positions Off Soon-to-Shut Version One of Its Perpetuals Market

Research Reports

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The $19 Billion Liquidation That Shook Crypto
Featured

The $19 Billion Liquidation That Shook Crypto

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Synthetix Markets

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Synthetix Supported Platforms

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Trading AsToken StandardBuilt OnSmart Contract AddressLaunch Date
SNXERC20ETH0xc011a73ee8576fb46f5e1c5751ca3b9fe0af2a6f2020-05-11
SNXEERC20AVAX0xbec243c995409e6520d7c41e404da5deba4b209b2021-07-23
SNXEV1ERC20AVAX0x68e44C4619db40ae1a0725e77C02587bC8fBD1c92021-01-29
MSNXERC20FTM0x56ee926bd8c72b2d5fa1af4d9e4cbb515a1e3adc2021-02-19
MSNXERC20MOVR0xf480f38c366daac4305dc484b2ad7a496ff00cea2021-09-13

About Synthetix

Synthetix (SNX) is a decentralized synthetic asset issuance protocol built on Ethereum. It allows the creation and trading of synthetic assets collateralized by SNX, used for hedging, gaining exposure to diverse assets, and trading on the price movements of real-world assets. SNX stakers are incentivized to contribute to the network and capture fees generated from Synth exchanges, which determine the value of the SNX token.

Frequently Asked Questions

Synthetix is a decentralized synthetic asset issuance protocol built on Ethereum. It allows the creation and trading of synthetic assets, which are collateralized by the Synthetix Network Token (SNX). The platform is designed to address liquidity and slippage issues experienced by decentralized exchanges.

Synthetix was created by Kain Warwick in 2018. Warwick is also the founder of Blueshyft, an Australian payment processing company.

Synthetix is used for a variety of purposes, such as hedging against price fluctuations, gaining exposure to a diverse range of assets, and trading on the price movements of real-world assets without actually owning them. The platform currently supports synthetic fiat currencies, cryptocurrencies (long and short), and commodities. SNX holders are incentivized to stake their tokens as they are paid a pro-rata portion of the fees generated through activity on Synthetix.Exchange, based on their contribution to the network. The value of the SNX token is derived from the right to participate in the network and capture fees generated from Synth exchanges.