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Synthetix SNX |
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$0.7174059 |
-1.85% (24h) |
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Marketcap |
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$243,535,055 |
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Volume 24h |
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$15,646,419 |
Description
Synthetix (SNX) is a decentralized finance (DeFi) platform that enables the creation and trading of synthetic assets on the Ethereum blockchain.
Launched in 2017, Synthetix allows users to create and trade assets that track the value of real-world assets, such as stocks, commodities, and currencies, without needing to hold the actual asset.
SNX, the platform's native token, is used as collateral to mint synthetic assets and for governance.
Synthetix aims to bring traditional financial instruments to the blockchain.