Synthetix (SNX)
What is it?
Synthetix is a decentralized finance (DeFi) protocol on the Ethereum and Optimism networks that allows users to create and trade synthetic assets, known as “Synths.” These Synths can represent a variety of real-world and crypto-based assets, such as fiat currencies, commodities (like gold and silver), cryptocurrencies, stocks, and indices.
Why trade it?
By enabling the creation and trading of synthetic assets, Synthetic allows users to gain exposure to real-world assets on the Ethereum blockchain without needing to hold the underlying asset.
Did you know…
The various tokens used for SNX are called synthetics – or just synths.