Coin: SYNTHETIX (SNX)

Synthetix is a decentralised derivatives trading protocol providing access to cryptocurrencies, fiat currencies, commodities & equities!

Twitter Sentiment

Tokenomics
Security
Scalability
Decentralisation
Applications
Team & Developers
Usage & Adoption
Community Strength
Overall Rating

Investors:

Coinbase Ventures, Defiance Capital, Framework Ventures, Jump Capital, ParaFi Capital, Paradigm, SVK Crypto, Synapse Capital, Three Arrows Capital

1D+0.56% 14D+0.56%
7D-3.23% 200D -3.23%
30D+21.54% 1Y+21.54%
Open 24H$295
High 24H$302
Low 24H$293
Last Price$297
TotalBNB 163.28 M
Mkt.Cap$48.49 B
Vol. 24HBNB 129.46 K
Vol. 24H$38.55 M
Open: High: Low: Close:
Candlestick SNX/USDT

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Synthetix is a decentralised derivatives trading protocol established in 2017 by Kain Warwick. Synthetix offers a variety of derivatives or synthetic assets, known as Synths, for its users to trade. These include cryptocurrencies, fiat currencies, commodities, equities and more. The value of these derivative assets are collateralized using crypto debts and their pegs are maintained using No Arbitrage Theory and Liquidity pools, with a 1000% aggregate collateralization ratio.

The native currency to the Synthetix protocol is the SNX token which is predominantly used as a staking tool and collateralization. Transaction fee’s of 0.3% are also paid in SNX for all transactions on the network, which are paid out as staking rewards. The Initial Supply of SNX was $100 million with deceleration inflation which will continue at 1.5%p.a. in perpetuity.

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