UNISWAP (UNI)
UNISWAP (UNI)
Coin: SYNTHETIX (SNX)
Synthetix is a decentralised derivatives trading protocol providing access to cryptocurrencies, fiat currencies, commodities & equities!
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Tokenomics
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Security
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Scalability
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Decentralisation
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Applications
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Team & Developers
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Usage & Adoption
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Community Strength
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Overall Rating
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Investors:
Coinbase Ventures, Defiance Capital, Framework Ventures, Jump Capital, ParaFi Capital, Paradigm, SVK Crypto, Synapse Capital, Three Arrows Capital
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Disclaimer: Platypus Terminal does not provide any investment advice, nor is anything mentioned an offer to sell, or a solicitation of an offer to buy any security or other instrument. Under no circumstances should investments be based solely on the information provided. We do not guarantee the security or completeness of our information, and are not held liable.
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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