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Synthetix Review: DeFi Gem for 2020 ?

34 198 views | 9 Feb. 2020

? TOP Crypto TIPS In My

? TOP Crypto TIPS In My Weekly Newsletter ? https://signup.coinbureau.com/newsletter

► Complete Written Review ? https://www.coinbureau.com/review/synthetix/

► Get Synthetix Network Token on Kucoin ? https://www.coinbureau.com/out/kucoin

BTC Tipjar ??: 35YDYtYAB999JxiXQXewzLvMGX4ki2d3WL


⏰ Time Stamps ⏰

1:30 Introduction

2:00 What is a Synthetic Asset?

4:00 Crypto Synthetics

5:00 What is Synthetix?

6:51 Anything can be Traded

9:27 How to use Synthetix Exchange

11:20 Benefits of Synthetix

13:14 SNX Tokens

14:30 Future of Synthetix

17:40 Conclusion


⛓️ ? Helpful Links ? ⛓️

► Website: https://www.synthetix.io

► Litepaper: https://www.synthetix.io/uploads/synthetix_litepaper.pdf

► GitHub: https://github.com/Synthetixio

► The future of SNX: https://thedefiant.substack.com/p/balance-sheet-as-a-business-model

► Chainlink partnership: https://blog.synthetix.io/chainlink-decentralizes-first-wave-of-synthetix-price-feeds/


?️ Socials ?

► Official Blog: https://blog.synthetix.io

► Twitter: https://twitter.com/synthetix_io

► Discord: https://discordapp.com/invite/AEdUHzt

► Reddit: https://reddit.com/r/synthetix_io


? Simple Overview ?

Synthetix is one of the hottest projects in the DeFi space right now, with its market cap rocketing from under $10 million in mid-2019 to over $200 million at the time of this video’s release.

? What is Synthetix? ?

Put simply, Synthetix is a trading platform for synthetic assets, built on top of the Ethereum blockchain. But what the heck is a synthetic asset? In short, they are simulated representations of real-world assets.

Right now, you can trade synthetic assets on the platform like fiat currencies, crypto, commodities, and stocks are coming soon too.

❓ Why Use A Synthetic Asset? ❓

It’s a fair question to ask why someone wouldn’t want to hold the real thing? It all boils down to the user wanting a simple way to get price exposure without using any centralized entities.

? The Synthetix Exchange? ?

To use the exchange, you’ll need to connect a MetaMask, Trezor or Ledger wallet.

Synthetix’s stable coin is the gateway into the Synthetix ecosystem and you can buy this on decentralized exchanges or Kucoin.

Prices for each asset are determined by price feeds. These are only partially decentralized as some are completely centralized and controlled by the Synthetix team. However, there are plans to completely decentralize all price feeds with some help from Chainlink.

? Benefits of Synthetix Exchange ?

- Being practically decentralized means there is no KYC and the exchange is non-custodial, which means you control the keys to your crypto assets.

- You are not trading with other people on the exchange. Synthetic assets are bought or sold through the minting/burning of synthetic tokens. This means you don’t have to worry about liquidity!

- In theory, there is an unlimited number of synthetic tokens that can be issued. That means you don’t have to worry about the token supply.

? What Is SNX Token? ?

In short, its the fuel of the entire Synthetix ecosystem. SNX token holders lock up their coins to earn staking rewards. These locked tokens are used as collateral and back up the values of all issues synthetic assets.

? The Future of Synthetix ?

The Synthetix exchange is a prototype. However, the project aims to become a huge decentralized trading platform where users can trade synthetic assets for anything in the world.

There are 4 key things in the pipeline:

- The introduction of non-SNX collateral options.

- A liquidation mechanism to stabilize under collateralized positions.

- Decentralize price feeds by collaborating with Chainlink. Work has already started on this.

- Create better trading tools like stop losses and leveraged trading.


? Disclaimer ?

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.

#Synthetix #SNX #crypto #Ethereum #Review #Dex #Synth #Defi #blockchain

David Forrest

Hi Guy, Do you have an update on this project?
many thanks

Gonzalo Téllez Lazo

Thank you, I was about to buy 1 Maker but now this project looks a lot more interesting for me

Ricky 81

buy since SNX $2,8 waiting until $500 amennn limited supply make SNX interesting..

Tony Thomas

Can you make a video on VITE token, actually there aren't many explainer videos but I find the project interesting.

deep review

SNX, NIMIQ and ElastOS will be Huge.

Alain Bureau

Excellent information. What asset should I buy to invest in the project?


The bundled products could be a game changer. The issue I have is seeing what regulation hurdles they will undoubtedly fact as they integrate stock exchange tokens. I'm interested to see how OST can compete or perhaps integrate into this system.

Bryan Rentoul

Thanks a bunch for your research on this. Saved me a LOT of time and head scratching. ... So, an online gambling game site? The value of Synthetix itself may go up over time (SNX). Other than that, it's just another exchange, however amazing or clever, now or in the future.

Alan Rothsman

I have a bucket of Synthetix SSynthetix tokens. :-)

vishnu kodoth

Man you are awesome ! Never sell us for some bugs for marketing ! Your work is fabulous

husain sanjitwala

Review buxcoin

Mark Isaac

Can you do Chiliz please


Poor analogies. Derivatives are simply synthetic assets that resolve on price of an underlying asset. No different from futures or options that trade in traditional markets. Infact safer as no central authorities involved. It is a massive market globally ~$1.2 quadrillion. Soon Synthetix will launch traditional assets with leverage starting with Hadar update next week. SNX will soon be a pillar of defi as most dapps required tokens to grown value. MKR launched defi with DAI but this will get a whole lot bigger with SNX

Balkanian citizent

Great video . just ETH trx costs are too high . example it was over 1 $ a few days ago.


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Revival 305

Great explanation! I am thankful for your channel!

r reuss

subbed - quality content is always appreciated! thx

xylO f4nts

Can you look at Decentraland ? :)

Stacey Buckland

Excellent...new sub.

Vince D

Hi and thank you for all your videos! Correct me if I'm wrong but I guess that nothing is backing the synthetic tokens like Sbtc, Seth and so on... So for example buying BTC in a synthetic way wouldn't make the real price change and it could actually be a kind of supply increase in BTC and reduce the potential increase in price of the asset. I feel like if Synthetix explodes and becomes used even more than the platforms trading the real assets, the assets' prices won't tell the real balance between supply and demand anymore. What do you think about it? Thx

Gnar Choss

We are so many levels deep at this point. Can't wait until we have synthetic assets of synthetic assets which represent crypto assets, which are "stable coins" representing "government backed" but still virtually synthetic fiat.

Stephen Senices

I love the way you explain each project. I start not knowing much about certain ones and I always understand and know what each is about after watching your videos!!! Great work!!

Ali G

Thanks CB ?


Excellent video. I just realised I had a wedge of these in my crypto portfolio, not sure where they came from as I can’t remember buying them. Anyway thanks for explaining what the hell they are!

S Bell

Thoughts on UBT Unibright and the ethereum enterprise alliance ?

Michael Boroski

Need a simple mobile app and a defi index. It would blow up.


You are a genius mate! The amount of research you have done on SNX is mind-blowing. Thank you!

justin smith

Thoughts on ETHLend (Avve) Guy ? thanks

Sam Watkiss

Hey Guy, have you ever considered review Apollo (APL)? It has 1-2 transaction time, their own exchange (knox) they have recently signed an MOA With Zimbabwean Bank, and have Nigeria, Mozambique initiatives already started, among others. Thanks

Chandan Khanna

It’s bloody shit...... Snx..... get out of it..... the price doesn’t go up and charges to burn and mint are exorbitant

A Wizeone

I just realized that I think you can’t reply to me. Unless you leave me a comment. Thank you.

Crypto Trade

Synthetix Network will kill you with there transaction Fees, what ever amount of ether in your wallet, for example if you want to withdraw your any token form your wallet fees is extreamly high, because your wallet is already connected to synthetic network

FAB-IT Solutions™

Would you tell me if I am understanding the collateral mechanism right:
SNX price goes up = Collateral will be enforced meaning over minimum 750% > (less sUSD needed)
Other Synths go up = Collateral will be weakened meaning going under 750% < ( more sUSD needed)
SNX goes up and other Synths go up = Collateral can be rebalanced but not as aggressive.
Hence if you reinvest your sUSD in i.e.: sDefi then when they go up and Synth will go up would be the best solution?

Ron Vichar

neymar is a depreciating asset

Demelza Hays

You literally just copied this guy's video.... https://www.youtube.com/watch?v=MKVLvlk_Lhs Seriously, you have no shame.

Equivocal Systems

Update: ratio is now 800%

Ishwar Lad

Hi, Do i need to maintain the 750% daily or only when claiming the rewards?

Hutchie Gaming & More

good vid, ty

Timothy Bruss

Good explanation, thanks for doing the dd, very helpful, I think we may be looking at another ground breaking opportunity with SNX, should things go well as the company develops?!

Kam G

Loooong time Fan of your channel Guy! Can you please provide your expert review of AXION please? This really is a hidden gem or one might say Sleeping GIANT! Keep up the amazing work


You can gain things that you can't sell..useless.

Indy S

I see that you have not added SNX to your portfolio as per your last newsletter. So are you also thinking what I'm thinking? :-)


Tokenization of ALL the stock markets and derivatives!

Mark Innes

Thanks Guy ,just found you ,love the no hype reviews :-)

Crypto Gen

how much did you get paid? u gottah put that in the description.... i Think SNX is a great project. Just tell the viewers how much you got paid.


Where to buy difi in the UK

Indy S

I just cannot imagine the amount of research and sheer hard work that goes into producing such high quality content. Way to go...

Mat Mc

Would this not inflate the number of btc and other cryptocurrzncies (like future contracts did) and destroy the value of crypto?


???? Great video. I'll be putting 1 BTC into Synthetix before it breaks $20k again. This has potential to be a $10 billion industry ????

Leandro Leite

Great Review. thank you.

A Wizeone

I’d like to receive your email. But it says invalid email. How can I get you my email without posting here for fear of me being spammed by bad actors. Thank you. BYW I love your vids. Very informative. ??

Tim Birishi

Is the SNX token actually needed? Why can't it be ETH?

Indy S

Derivatives trading in traditional finance is a 640 Trillion Dollar market. No doubt if Synthetix can gain even a tiny bit of that market share, it would be flying. But then, given the still nascent stage of development of the project, it has been flying already, thanks to the overheated DEFI space right now and currently trading at $6.5 a token (120% increase since May prices). I would be inclined to wait a bit for the price to correct but then SNX has hardly shown any correlation to BTC and ETH over the last month and just keeps rising. Hmmm... what to do?

Stathi Nightingale

But whats the purpose? Just another layer of speculative trading based on simulated behavior of "real" assets? What is the end game value proposition other than another layer of trading real things but not really having them?

Summer Kipps

good find. cheers

DApp City

So, I minted 100 SUSD with my SNX collateral, then went and minted Sbtc at a price of 9500.. my debt said 97 Susd in the stats section.. within 2 days later, Btc price went up to 10k.. the value of my Sbtc went up to 102 worth of Susd but my debt also rose to 102.. Why did my debt increase? shouldnt I just have to pay back the Susd I minted..? it makes no sense to me.. I had to find a couple extra Susd to unlock my SNX later on even though I won on my trade.. Hope someone can shed light on what happened there..

Jerzy O

perfect, thanks a lot

PaPo PaPiNo

We complain about the Fed printing infinite amounts of USD but this guys can print infinite amount of tokens that aren't backed by any real asset though they hold it's value? Sounds like a huge Ponzi scheme to me..

Clarence Dennison

This is the next stock exchange. Good job almost missed this.

Lion King

I must commend you for the amazingly educative content you provide. Thanks and keep up the good work

Indy S

Brilliant explanation, as always. Thanks a lot and keep up the good work mate!


How has Synthetix prepared for ETH2.0?

Kibar Ceyzo

$APLP is now listed on #MXC_Exchange today the price surged much 3300% on its listing thats was crazy profit return!

jorge urquizo

can i use coinbase wallet in instead of other wallets?


Synethtix + Decentralized - Collateral = Pegnet

Ali Al-Mahdi

Syenthatix: A fancy gambling system.

Lee VanCleef

Question : So once you actually BUY something on Synthetix Exchange...Like Synthetic Binance for example...Where and How do you store the Synthetic Binance? Does it Sit on the exchange?
So Lets say Binance goes up and you want to Sell your Synthetic Binance...what do you do?

Kai Ooi

Am I right to say that Synthetics for cryptos are like CFDs for shares? Both mimicking the price of the underlying asset?

Pitbull Stafford

I know what $SNX did, I know that you guys have some good brains. Check out #DeFi project DOSNetwork with mainnet and staking live, its seriously a no brainer at this marketcap and you guys know that.

Lee VanCleef

He didnt cover HOW TO SELL and LOCK IN a PROFIT. and get REAL $$ back on your hardware wallet etc etc..So you buy Synthetic Binance...Binance goes up...so your Synthetc Binance goes up and you wnt to lock in the profit...what do you do? convert it to Susd? then what? Im not getting this ...

George C

SNX is 12x up since this video was posted, and 150x up since its lowest price, 1.5 years ago. In other words, I can say this video aged very well!

Rebecca Paul

The Synthetix Foundation, which since the project’s 2018 launch has largely controlled the direction of the synthetic assets platform, is winding down and three DAOs are taking over; protocolDAO, grantsDAO and synthetixDAO, the team said in a blog post last night.


The possibilities are endless with that. Anything that could be tokenized could be synth tokened. Tokenized football players could be traded. Good lord!! I could by an 'etf' and go long or short based on the performance of the Pittsburgh Steelers....


So how is it different from the current fiat banking system?

Rob I

SNX is a giant pain with no clarity on what it could ever be worth. What you completely left out of this video is all the fees. The fees to get into and out of SNX are insane! Let’s take the “claiming” that you have to do every 7 days: if you do NOT claim, then you forfeit the funds to the fee pool, and if you DO claim then you have to pay a LOT in fees via ETH. For example, I had to claim just 20 BID, and the charge in ETH to my wallet was over $7 USD!!!!! So, more BID to claim or forfeit and you get the privilege of forking out around $5 to $8 USD in ETH. For me, that would be around $25 USD per month for just a few BID, definitely NOT breaking even assuming 1 BID equals US$0.83 each. The fee for staking 2000 BID was around $7 USD. The fee to unstake BID is another $6 or $7. Why are the fees so ridiculously high? The staking rate is great, but there’s no assurance SNX won’t plummet. Also, what a paid to get SNX and transfer it into the platform for staking. I had to do multiple steps to buy SNX. What a paid. When I saw the claiming fees, I got out. I left a small amount staked because it was locked. Oh, then you have to leave your funds in escrow to get the real gains, assuming SNX doesn’t plummet around a year later.

Predrag Stupljanin

Will you make a review on ASKOBAR NETWORK, and UNICRYPT, brand new defi coins ?


Hey Guy! I saw your message in telegram and it got me thinking about what you think are the best defi projects/coins? The farming thing is interesting.

Cedric J

Thanks Coin Bureau for this review. I've been looking forward to investing in upcoming DeFi projects with some substance and I'm really impressed with this project, very similar to derivatives and the derivative market is huge to say the least. I'm sort of new to your channel but it would really be nice to hear more about DeFi projects in the future, especially some that haven't really taken off yet as has Synthetix. Please tell your audience to beware of a DeFi project called BiDao. I invested in it and the majority of people invested proclaim it to be a scam project and I tend to believe it is myself, but can't say for sure though.

Orlando Rodriguez

which oracle will they integrate... api3?

Lee VanCleef

How EASILY can ANY OTHER Well Financed, Experienced Exchange or Financial Group just create and do the very same thing? I like SNX but I see these types of exchanges ...while unique now...become commonplace and commoditized in the future.

Jose Baeza

Thank for this great video, but what can you say about SNX token? I checked on coingecko, it has an great year and I want to trade it on AAX. There are OTC, spot trading and unique saving model. What do you think about it?


If other assets(BTC) are used as collateral, then what is purpose of snx token?


Crypto mutual funds?

Teflon Don

How’s this any different to eToro?

andrew king

Sunday league in the US starts this weekend!!!! Thanks for the great videos Guy!

Martin Charles

This is a poor explanation.

Joe Vu Comedy

Let's say you make a profit on your trades. So you would then convert that profit back into Susd? and then trade that back at kucoin into whatever you want or you could also use your extra Susd to trade right into REAL ethereum? on Synthetix exchange? Is that how it works?

Lin OVE3

Snx competitor?

Kevy kev

So someone could buy $1b. Snx/btc And it wouldn't move the market one Cent?

Node Networks

I like the comparison using Naymar

Jay Que

INVICTUS CRYPTO 20 sounds similar to this, index fund for crypto.

Jose Guzman

Great video bro


who pays/receives any p&l from synx contracts minted by a user with collateral?

Alex Pol

One of the several projects being considered to be added to coinbase soon!

J Willis

Its like counterfeit securities , i dont see how the SEC wont slam it down to zero like they did with Veri

Dan LAne

You guys know an integration with renVm to allow bitcoin is on the way. I would say you only need to follow the breadcrumbs to figure this out but it would be more accurate to say follow the loaves of bread!


When will somebody tokenize the actual player? There's gotta be a way to do it.

vishnu kodoth

I am very upset i missed this video ? guy I am desperately waiting for your next mind blowing coin

henry cavill

I received 4% of the bitcoins that I had saved on the axisoption,com wallet. Axisoption gives its user 4% interest.

Eric Johansson

So, SNX and Injective Protocol are defi trading platforms. Are both settled in their native token? For example, if I buy Bitcoin/USD on SNX, which currency does it settle in? I guess SNX? Is it similar with injective protocol


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Sinthetic basic vajankle

24 713 views | 6 Jan. 2018

There are no videos of

There are no videos of sinthetics feet or vajankle so I made one to show the quality and durability.

Tjorre B

well that disturbing


I came here from reddit but uh... I will now make my leave


all I could imagine if it's possible to make a three toed silicone foot, it'll be amazing if that were to work.

who knows if it's made already, but I'll probably think about silicone-ing a three toed foot idea with a dark gray color. A possible reference of the Pokemon Riolu or Lucario's foot

Max Warne

looks real love it.... but how do you make it smell and taste like the real thing?


What about the taste ?? ???

Kakashi Hatake

Dude make more of these, what model is this?


Holy shit! Wtf?! That looks incredible! If you took a picture of that from the ankle down I'd swear it was a real foot! How much and where? Shut up and take my money!!!

tommy nolan

all you men want is sex you fucking perverts

Breaking Baz

Fanny feet ? Vajanckle ?

john thomas

how could I get a pair ?

Rachel Ybarra

Fuck you wubby for showing me this


Well that is quite horrifying :O

spaces Xantares :P the

Wtf un pie de mujer con vagina

Dan Kaezarr Tamayo

Is that a real foot Warning: its is a foot that hat a vagina ewww


Their "tall feet" on the site are expensive as hell, but they look so damn real. I need some extra cash!


Aw man, the toes aren't separated? :( that's good to know. Thanks for the video.

Cyrus Grissom

where do they sell this??

David Nomack

Spooky af


where you order from


Unban me pls wubby

Chris Rolls

can you simulate an ankle sprain with this sylicone foot?

Absolute Absurd


Naiden Hristov

is this feels real when you touch it? damn its look too real...

Luke Aldrich

Damn son, I’d hit that...

kolby 56


Max Wendell

Bruh how come u didnt show the ankle puzzie


It's so realistic that it's creepy! 0.0

DKB 369

Nice... But I think I'm gonna order a pair of feet. Don't care about the pussy on top. Can't get a foot job with one foot. Lmao

Wonder how wrinkley the soles are doe...


Of course someone that spent $179 on a foot fetish Fleshlight wouldn't think to show the vagina that's built into the stub..

"the toe bends this way, *boing* "

Milton Lopez

Is Sinthetics still open or like operating? I would like to get a pair of the feet but im not sure if its safe to do it on the website..help!

Rose Cip


Hung Jeng

what kind of silicon you are using?

Sylver Crow

Wubby sent me here


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Designed For Blood

2 350 views | 21 Feb. 2015

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Designed For Blood · Shade Empire


℗ 2005 Magick Records

Released on: 2005-02-15

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i can taste your blood