Synthetix is a decentralized liquidity protocol built on the Ethereum and Optimism networks. Originally launched as Havven in 2017, it rebranded to Synthetix in late 2018. The protocol's core function is to enable the creation of synthetic assets, known as "Synths," which are on-chain assets that track the value of real-world assets like currencies, commodities, and market indices. Users can mint Synths by staking the native Synthetix Network Token (SNX) as collateral. This mechanism creates a decentralized and permissionless derivatives market, providing deep liquidity and low fees for a wide variety of financial instruments. The protocol is governed by the Synthetix DAO (Decentralized Autonomous Organization), where SNX token holders vote on protocol upgrades and configurations.

Founded in

Australia