Synthetix: decentralized liquidity, synthetic assets, and staking rewards.
Synthetix, on Ethereum, enables synthetic asset creation via SNX staking. This offers seamless conversions, incentivizing stakers with fees and inflation.
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What is Synthetix (SNX)?
Synthetix is a decentralized protocol on Ethereum and Optimistic Ethereum (a layer two scaling solution) that provides liquidity. It allows users to create synthetic assets, called synths, which are backed by staked Synthetix Network Tokens (SNX). When SNX tokens are locked in a staking contract, they enable the issuance of these synthetic assets. This pooled collateral system facilitates direct conversions between synths through smart contracts, eliminating the need for counterparties and addressing liquidity and slippage issues common in decentralized exchanges (DEXs). Currently, Synthetix supports a variety of products, including Perpetual Futures and Spot Synths, which form the foundational liquidity layer for developers to create innovative financial derivatives. SNX token holders are...
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Synthetix price live information
As of now, Synthetix is trading at 0.5744 USD, with a 24-hour trading volume of approximately 598.43K USD. The SNX to USD price is updated in real time. Over the past 24 hours, Synthetix has decreased by 7.98%. It remains the top-ranked cryptocurrency on CMC.IO, with a market capitalization of about 194.99M USD. Currently, there are 339 466 216.990399 SNX in circulation out of a maximum supply of 339 889 850.088774 SNX.
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