About Synthetix

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...