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Synthetix SNX Logo
Synthetix SNX
$1.38 16.27%
OG Score 48.24
Reviews 5
Synthetix SNX Logo

Synthetix SNX Price

$1.38 16.27%
Low All Time High
$0.0347864 $28.53

Introduction

SNX (Synthetix Network Token) is the native cryptocurrency of the Synthetix decentralized liquidity provisioning protocol. More

OG Score 48.24
Reviews 5
Market Cap $474.35M
Market Cap Rank # 178

Token Stats

Fully Diluted Valuation $474.93M
24H Trading Volume $129.06M
24H Low / High $1.38 / $ 1.66
Circulating Supply 343.47M
Total Supply 343.89M
Max Supply 343.89M

Info

Categories Decentralized Exchange (DEX) 24 more
Founder Kain Warwick
Website synthetix.io
Socials 3 more
Chains Ethereum Ecosystem 9 more
Explorer Nearblocks 9 more
Contracts Synthetix 0xc01....f2a6f 9 more

SNX/USD Price Chart

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$SNX Community Sentiment

OG Evaluation

OG Score

OG Score Rank #192
Reviews 5
Gem Score 16.92

OGAudit Coin Evaluation Metrics

Innovation 50 .44
Innovation Evaluates whether the project introduces a unique, impactful solution that clearly outperforms competitors.
Security 48 .42
Security Assesses the robustness of smart contracts or protocol security, and the availability of up-to-date audit reports.
Community 45 .64
Community Measures how actively the team engages its community and whether governance decisions involve on-chain voting or transparent input.
Tokenomics 49 .22
Tokenomics Examines the utility of the token, distribution fairness, and whether there are clear incentives for long-term holding or usage. Also evaluates the project’s revenue model, including income sources, sustainability, and whether value flows back to token holders or the ecosystem.
Team 48 .40
Team Evaluates the experience,credibility of the founding and development team.
Roadmap 47 .34
Roadmap Assesses the clarity, transparency, and timely execution of the project's development roadmap.

Synthetix $snx User Reviews

What Crypto OGs are Saying About Synthetix

$snx Markets

Name Pair OG Score

About Synthetix $snx

In the dynamic realm of decentralized finance (DeFi), Synthetix has emerged as a protocol, revolutionizing liquidity provision and expanding the horizons of the cryptocurrency space. Established in September 2017 as Havven and later rebranded as Synthetix, this decentralized liquidity provisioning platform is built on Ethereum and Optimistic Ethereum, a layer two scaling solution.

At the core of Synthetix is the Synthetix Network Token (SNX), a key element in the collateralization process that enables the issuance of synthetic assets known as synths. These synths, spanning perpetual futures, spot synths, and various derivatives, offer users exposure to real-world assets without the necessity of direct ownership.

Operating on the principles of a pooled collateral model, Synthetix resolves liquidity and slippage issues experienced by decentralized exchanges (DEXs). Users stake their SNX tokens, locking them in a staking pool that serves as collateral for the issuance of synths. This mechanism facilitates seamless conversions between synths directly through smart contracts, eliminating the need for counterparties.

Incentivizing SNX holders is a key aspect of Synthetix's ecosystem. Stakers receive a pro-rata portion of fees generated by integrators on the platform, creating a symbiotic relationship between liquidity providers and the broader ecosystem. Additionally, SNX holders are rewarded with inflationary incentives, further motivating active participation in the network.

Synthetix has expanded its reach by supporting a diverse array of products facilitated by the pooled collateral model. Perpetual futures and spot synths form the foundation, providing integrators with a robust base layer for developing innovative financial derivatives. This versatility positions Synthetix as a vital backend for protocols like Kwenta, Lyra, Polynomial, 1inch, and Curve, offering deep liquidity and low fees.

The protocol's commitment to reducing gas fees and oracle latency led to its transition to the Optimistic Ethereum mainnet. This strategic move enhances the overall efficiency of the platform, ensuring a seamless trading experience for users.

The history of Synthetix is marked by visionary leadership. Founded by Kain Warwick, the platform initially operated as Havven before evolving into Synthetix. Warwick's expertise, coupled with the experience of CEO Peter McKean, COO Jordan Momtazi, and CTO Justin J. Moses, underscores the project's commitment to innovation and excellence.

In summary, Synthetix stands at the forefront of DeFi, reshaping the financial landscape by introducing non-blockchain assets and providing a decentralized exchange platform for synthetic assets. With a rich history, visionary leadership, and a commitment to user incentives, Synthetix continues to be a driving force in the evolution of decentralized finance.

Synthetix strategically transitioned to the Optimistic Ethereum mainnet to reduce gas fees and lower oracle latency, enhancing the platform's efficiency and ensuring a seamless trading experience for users.

What is unique about Synthetix (SNX)?

Synthetix stands out in decentralized finance (DeFi) for its revolutionary pooled collateral model, allowing users to stake Synthetix Network Tokens (SNX) and seamlessly trade a diverse range of synthetic assets, addressing liquidity and slippage issues experienced by decentralized exchanges (DEXs).

Who are the founders of Synthetix (SNX)?

Synthetix was founded by Kain Warwick, a visionary leader in the cryptocurrency space, with a track record of successful projects. The team also includes CEO Peter McKean, COO Jordan Momtazi, and CTO Justin J. Moses, bringing a wealth of experience to the project.

Who are the backers/investors of Synthetix (SNX)?

Synthetix has gained recognition and support within the decentralized finance community for its innovative approach and contributions to the space. Specific supporters and investors of the project are unknown. For up-to-date investor/backer information, please visit the project's official website.

Where can I buy Synthetix (SNX)?

You can buy Synthetix (SNX) on Binance, MEXCGate.ioOKXCoinbase cryptocurrency exchanges.

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