Synthetix is a
Synthetix is a decentralized synthetic asset issuance protocol founded by Kain Warwick and the Synthetix Foundation. Initially, it was known as Havven when it first launched in September 2017. During its seed round and token sale, it managed to raise $30 million by selling 60 million HAV tokens to investors. In late 2018, the platform expanded its vision and rebranded to Synthetix. Today, the platform is the largest decentralized exchange for derivatives in the decentralized finance (DeFi) space, boasting an impressive ~$700M in total value locked (TVL) as of November 2020.
Synthetic assets or Synths are derivatives that provide exposure to real world assets on the Ethereum blockchain. Similar to derivatives in traditional financial markets, Synths allow users to hedge and reduce their risk, speculate on price movements and gain access to unavailable assets or markets. This is all accomplished without an individual ever holding the underlying asset.
Synthetix is a decentralised synthetic asset issuance protocol built on Ethereum. These synthetic assets are collateralized by the Synthetix Network Token (SNX) which when locked in the contract enables the issuance of synthetic assets (Synths). This pooled collateral model enables users to perform conversions between Synths directly with the smart contract, avoiding the need for counterparties. This mechanism solves the liquidity and slippage issues experienced by DEX’s. Synthetix currently supports synthetic fiat currencies, cryptocurrencies (long and short) and commodities. SNX holders are incentivised to stake their tokens as they are paid a pro-rata portion of the fees generated through activity on Synthetix.Exchange, based on their contribution to the network. It is the right to participate in the network and capture fees generated from Synth exchanges, from which the value of the SNX token is derived. Trading on Synthetix.Exchange does not require the trader to hold SNX.
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I got 18,8 SNX tokens for free on 2018 Airdrop lol
SnX is on its way to $20!
man stil lat 15 while btc down at almost 30%, what s your take?
Nice quick cool content
Let me know what you guys think about Synthetix ! and ask me any questions :)
Hi everybody, in today's
Hi everybody, in today's video I show how to buy Synthetix Network Token.
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Synthetix is a decentralized protocol for the deployment of goods on the Ethereum network. But the project also includes the development of different interfaces to this protocol which have various interesting functionalities such as Synthetix.Exchange.
The deployment of these assets is achieved through Ethereum tokens called Synths that can replicate the value of cryptomoney such as Bitcoin or Ether, but also more traditional actions such as Apple actions (AAPL) for example.
The protocol uses its own Ethereum token, the SNX, to ensure the proper functioning of its services. And in this video I show you how to buy some SNX tokens. The SNX is used as a guarantee to ensure the stability and liquidity of the various Synths offered to users.
Please note that this video is not a financial advice.
I did not know this crypto.. this is a good one ?
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When did you buy them yesterday or two months back
SNX has alot potential it's for the derivatives market and that's a $600T beast!
All your information is wrong, you don't really understand the protocol, and you are a brainlet in general.
Buy Matic Network when is price so cheap 0.026$, the same staking ratio .
So these are the New World Order Guys (Synthetix). Good for the price but the goal is to digitize all.