Synthetix

SNX

News

Synthetix is a pioneering derivatives liquidity protocol enabling the creation of synthetic assets (Synths) that track the value of real-world assets on the blockchain. Through a sophisticated collateralization mechanism, users can mint synthetic versions of cryptocurrencies, fiat currencies, commodities, and indices without directly owning the underlying assets. The protocol's innovative design allows for permissionless trading with zero slippage and infinite liquidity through its debt pool model. Synthetix has evolved significantly since its inception, transitioning from Ethereum to a multi-chain approach with Optimism integration, dramatically reducing gas costs while maintaining security. The protocol's continuous improvements in capital efficiency and risk management have cemented its position as a cornerstone DeFi infrastructure.

Launched: Feb 2018