SNX
SNX Rank #219
DeFiSynthetic Assets
₹20.76
▼ 4.06%
24h
Market Cap
₹12,063,480,980
24h Volume
₹435,830
All-Time High
₹2,727.18
All-Time Low
₹3.33
Circ. Supply
580,980,590
Fully Diluted
—
Price Chart
24h Price Range
INR
₹20.76
₹22.04
Overview
About SNX
Synthetix is a decentralized protocol for creating synthetic assets that track the price of real-world assets like stocks, commodities, and currencies. Its token, SNX, is used as collateral and for governance.
Synthetix was founded by Kain Warwick, launching in 2018 initially as Havven before rebranding, becoming one of the pioneering DeFi protocols for creating synthetic exposure to real-world assets entirely on-chain.
Synthetix lets users lock SNX as collateral to mint synthetic assets, called Synths, that track the price of things like stocks, commodities, or other cryptocurrencies without holding the underlying asset directly. Traders on the network share collective exposure to price movements across all synths in the system.
SNX must be staked, well above the value of assets it backs, to mint synths, and stakers earn a share of trading fees generated across the platform as compensation for the risk they take on. Synthetix has been foundational infrastructure for other DeFi derivatives platforms built on top of its liquidity.
Key Facts
Market Rank#219
Launched2018-03-11
Circulating580,980,590 SNX
SymbolSNX
