Synthetix Network
Synthetix Network
SNX
Average
8.91K
10.63K
7.46K
Average
68
81
86
Average
6
6
11
Average
10
10
7
Synthetix Network BasicReport a Data Error
Synthetix Network Info
- Oct,2024The protocol achieves significant progress on its governance referendum SR-2, marking an important governance shift for the community
- Apr,2024Perps V3 launch, with improvements in cross-margin and multi-collateral features for better risk management.
- Feb,2024SNX Buyback and Burn mechanism kicks in, utilizing 40% of the trading fees from the Base network to purchase and burn SNX, effectively reducing token supply
- Jan,2024Launch of Synthetix V3, bringing multi-chain compatibility and a multi-collateral staking system. This shift provides more flexibility for stakers to allocate assets across different pools
- Dec,2023Major shift with the implementation of SIP 2043, marking the end of SNX inflation. This decision moves the protocol towards more sustainable revenue through buybacks and burns of SNX using trading fees
Synthetix Network Team
Synthetix Network Intro
Synthetix (SNX) is a leading decentralized finance (DeFi) protocol that facilitates the creation and trading of synthetic assets, which are tokenized versions of real-world assets like cryptocurrencies, commodities, and equities. By locking SNX as collateral, users can mint these synthetic assets, known as “synths,” and trade them on Synthetix’s decentralized exchange, bypassing the need for traditional intermediaries.
In addition to serving as collateral, SNX plays a pivotal role in governance, enabling token holders to propose and vote on protocol upgrades and changes. The protocol was initially launched as Havven but underwent a rebranding to Synthetix, expanding its focus to support a broader array of synthetic assets.
Synthetix's innovative collateralization mechanism ensures that synths track the value of their underlying assets, providing users with exposure to different asset classes within the DeFi space. However, as with any DeFi protocol, users should be aware of potential risks, including market volatility, smart contract vulnerabilities, and the evolving complexities of decentralized finance.
Above are only for introduction, not intended as investment advice.
Synthetix Network Unlock & AllocationReport a Data Error
Synthetix Network Timeline
Synthetix Network Token unlock
Synthetix Network Token allocation
People also watchReport a Data Error
Synthetix Network Price Live DataReport a Data Error
Synthetix (SNX) is a leading decentralized finance (DeFi) protocol that facilitates the creation and trading of synthetic assets, which are tokenized versions of real-world assets like cryptocurrencies, commodities, and equities. By locking SNX as collateral, users can mint these synthetic assets, known as “synths,” and trade them on Synthetix’s decentralized exchange, bypassing the need for traditional intermediaries.
In addition to serving as collateral, SNX plays a pivotal role in governance, enabling token holders to propose and vote on protocol upgrades and changes. The protocol was initially launched as Havven but underwent a rebranding to Synthetix, expanding its focus to support a broader array of synthetic assets.
Synthetix's innovative collateralization mechanism ensures that synths track the value of their underlying assets, providing users with exposure to different asset classes within the DeFi space. However, as with any DeFi protocol, users should be aware of potential risks, including market volatility, smart contract vulnerabilities, and the evolving complexities of decentralized finance.
Above are only for introduction, not intended as investment advice.