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OKX - Sign up to receive up to ¥3,000 in numbers Currency Blind Box! Transaction Fee Cashback: 20%! Register now okx.com ! Synthetix Trade Volume Charts(24h)
Introduction to Synthetix
Synthetix is a decentralized synthetic asset issuance protocol based on Ethereum. These synthetic assets are guaranteed by the Synthetix Network Token (SNX). As long as SNX is locked in the smart contract, synthetic assets (Synths) can be issued. The staking pool model enables users to perform conversions between Synths directly using smart contracts without the need for a counterparty. This mechanism solves the liquidity and slippage problems encountered by DEX. Synthetix currently supports synthetic fiat currencies, cryptocurrencies (long and short) and commodities. According to the user's contribution, the system will pay the transaction fees generated in Synthetix.Exchange to SNX holders in proportion, thereby encouraging users to hold SNX. The value of SNX comes from the right to use the network and the fees generated by Synth transactions.
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