Synthetix.io is a decentralized finance (DeFi) protocol that provides on-chain exposure to a wide variety of crypto and non-crypto assets. The protocol is based on the Ethereum (ETH) blockchain and offers users access to highly liquid synthetic assets (synths). Synths track and provide returns on the underlying asset without requiring one to directly hold the asset. The platform aims to broaden the cryptocurrency space by introducing non-blockchain assets, providing access to a more robust financial market.
Important Points Table Of Synthetix.io
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How to Buy the Synthetix.io (SNX) Coin & Trade On Exchange?
Buying SNXIs Very Easy Task . Just Find Exchange Where SNX Available & Buy Through Your Credit & Other Altcoin .
Once You Purchased SNX. Now It Is Time To Store Your SNX Or Start Trading On Exchange.
Who Are the Founders of Synthetix?
Synthetix.io network was launched in September 2017 by Kain Warwick under the name Havven (HAV). About a year later the company rebranded to Synthetix.
Kain Warwick is the founder of Synthetix and a non-executive director at the blueshyft retail network. Prior to founding Synthetix, Warwick has worked on several other cryptocurrency projects. They also founded Pouncer, a live auction site exclusive to Australia.
Peter McKean, the project’s CEO, has over two decades of experience in software development. He previously worked as a programmer at ICL Fujitsu.
Jordan Momtazi, the COO of Synthetix, is a business strategist, market analyst and sales leader with several years of experience in blockchain, cryptocurrency, digital payments and e-commerce systems.
Justin J. Moses, the CTO, was the former director of engineering at MongoDB and deputy practice head of engineering at Lab49. He also co-founded Pouncer.
Build with Synthetix
Leverage a suite of Synthetix.io assets to enable traders to access fiat currencies like USD, real-world assets like Gold, short positions on popular assets like BTC, indexes of assets from industries like DeFi, and much more. Visit the tokens section for a complete list of the Synths available.
Synth Trading Integrations
For a walkthrough of how to integrate synth trading into a dApp, as well as information about how you can earn revenue from trading fees with through the Volume Program, visit the trading integrations section.
What Makes Synthetix Unique?
Synthetix.io is a decentralized exchange (DEX) and a platform for synthetic assets. The protocol is designed in a way that exposes users to the underlying assets via synths, without having to hold the underlying asset.
The platform allows users to autonomously trade and exchange synths. It also has a staking pool where holders can stake their SNX tokens and are rewarded with a share of the transaction fees on the Synthetix Exchange.
The platform tracks the underlying assets using smart contract price delivery protocols called oracles. Synthetix allows users to trade synths seamlessly, without liquidity/slippage issues. It also eliminates the need for third-party facilitators.
Synthetix.io tokens are used as collateral for the synthetic assets that are minted. This means that whenever synths are issued, SNX tokens are locked up in a smart contract.
Since launch, the protocol has transitioned to the Optimistic Ethereum mainnet to help reduce the gas fees on the network and lower oracle latency.
Discord discussions: All Synthetix governance discussions begin in the Synthetix community Discord in the #governance channel.
Research Forum: After rough discussion occurs in Discord, more formalised opinions regarding governance and improvements to Synthetix are stored in the Synthetix Research Forum.
SIP Website: To review or create Synthetix Improvement Proposals (SIPs), visit the Synthetix SIP interface.
Contact: You can get technical support from the Synthetix Discord in the #tech-support channel.
FAQs: For additional support resources, explanations, and links that are perfect for any newcomers, visit our community-built Synthetix Resources page.
How Is the Synthetix Network Secured?
The Synthetix.io token is compatible with Ethereum’s ERC20 standard. The Synthetix network is secured through proof-of-stake (PoS) consensus. Synthetix holders stake their SNX and earn returns from the network fees.
Another way for SNX stakers to earn rewards is via the protocol’s inflationary monetary policy, known as staking rewards.
Where Can You Buy Synthetix (SNX)?
Synthetix.io tokens can be purchased at top exchanges, such as:
If you are interested in learning more about how to buy Bitcoin