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Synthetix
About Synthetix
Synthetix (SNX) is a decentralized synthetic asset issuance protocol built on Ethereum. It allows the creation and trading of synthetic assets collateralized by SNX, used for hedging, gaining exposure to diverse assets, and trading on the price movements of real-world assets. SNX stakers are incentivized to contribute to the network and capture fees generated from Synth exchanges, which determine the value of the SNX token.
Synthetix is a decentralized synthetic asset issuance protocol built on Ethereum. It allows the creation and trading of synthetic assets, which are collateralized by the Synthetix Network Token (SNX). The platform is designed to address liquidity and slippage issues experienced by decentralized exchanges.
Synthetix was created by Kain Warwick in 2018. Warwick is also the founder of Blueshyft, an Australian payment processing company.