What is Synthetix (SNX)?

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.

Who created Synthetix (SNX)?

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.

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BPSNX	BEP20	BNB	0x9ac983826058b8a9c7aa1c9171441191232e8404	2020-10-13
BPSNX	BEP2	BNB	SNX-C26	2020-10-13
ESNX	ERC20	NRG	0xa255461fF545d6ecE153283f421D67D2DE5D0E29	2021-02-24
HPSNX	HRC20	HT	0x777850281719d5a96c29812ab72f822e0e09f3da	2021-02-06
MSNX	ERC20	FTM	0x56ee926bd8c72b2d5fa1af4d9e4cbb515a1e3adc	2021-02-19
MSNX	ERC20	MOVR	0xf480f38c366daac4305dc484b2ad7a496ff00cea	2021-09-13
OSNX	ERC20	OP	0x8700daec35af8ff88c16bdf0418774cb3d7599b4	2021-11-12
PSNX	ERC20	POL	0x50b728d8d964fd00c2d0aad81718b71311fef68a	2021-03-01
RSNX	NEP141	NEAR	c011a73ee8576fb46f5e1c5751ca3b9fe0af2a6f.factory.bridge.near	2021-03-15
RSNX	ERC20	AURORA	0xdC9bE1FF012D3c6dA818D136a3b2E5FDD4442F74	2021-07-09
SNX	ERC20	ETH	0xc011a73ee8576fb46f5e1c5751ca3b9fe0af2a6f	2020-05-11
SNXE	ERC20	AVAX	0xbec243c995409e6520d7c41e404da5deba4b209b	2021-07-23
SNXEV1	ERC20	AVAX	0x68e44C4619db40ae1a0725e77C02587bC8fBD1c9	2021-01-29
WSNX	SPL	SOL	8cTNUtcV2ueC3royJ642uRnvTxorJAWLZc58gxAo7y56	2021-12-25