Synthetix

SNX

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Synthetix
Synthetix is an Ethereum-based protocol for issuing synthetic assets.  Synthetic assets are financial instruments that are in the form of ERC-20 smart contracts known as "Synths," which track and give the returns of another asset without requiring you to retain that asset. They are comparable to derivatives in traditional finance. On Kwenta, Synthetix's decentralized exchange, you can trade Synths, which include cryptocurrencies, indices, inverses, and physical assets like gold (DEX). The Synthetix Network Token (SNX), the company's native token, is utilized as collateral for issued Synths. A user must stake their SNX token in order to use the Synthetix network.
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