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Synthetix

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About Synthetix (SNX)

Synthetix is a decentralized trading ecosystem. It is built on the Ethereum blockchain as an asset issuance protocol, where users can create “synthetic” versions of stocks, crypto, or other financial instruments through smart contracts. There is an exchange as well as a decentralized application (dApp) to facilitate trading of the instruments issued on Synthetix.

Token

In order to participate in the Synthetix network, a user must stake their native token, SNX. SNX is ERC20 compliant.

Supply

The initial supply of SNX is 100,000,000 but due to the inflationary system built into the protocol, the supply will rise to 245,312,500 in 2024.

Synthetix website

The pricing data and asset description above are for general informational purposes only and are not investment advice. Buying, selling, and trading cryptocurrency involves risks. You should consult with your own appropriately qualified and licensed advisors before engaging in any transaction on Gemini. Some data is provided by Messari, a third party that is not affiliated with Gemini.