Synthetix
SNX
Crypto
Decentralised Networks
USD 2.10-17.3%
Synthetix
UMushroom community rating:
About
Decentralised Networks
Categoryn/a
Consensus MechanismL2
L1/L2Other
Sub-cateegoryethereum
Ecosystem2018
Year of creation
Description
Synthetix (SNX) is a Decentralised Networks crypto token. Synthetix was founded on 2018-03-14 on the ETHEREUM ecosystem. More information can be found at https://www.synthetix.io/.
Key Technical Advantages:
Collateralization and SNX Backing: All Synths are backed by SNX tokens. SNX holders stake their SNX as collateral to mint Synths, and they incur debt when minting. To unlock their SNX, they must pay back this debt by burning Synths. Staking Incentives: SNX holders are incentivized to stake their tokens through exchange rewards and SNX staking rewards. The rewards come from the protocol's inflationary monetary policy and are distributed weekly to SNX stakers based on their collateralization ratio. Collateralization Ratio (C-Ratio): SNX stakers are incentivized to maintain their C-Ratio at the target ratio to ensure Synths are backed by sufficient collateral. Stakers can adjust their ratio by minting or burning Synths. Synthetix Perpetual Futures: Synthetix Perps is a decentralized perpetual futures exchange that utilizes liquidity from the Synthetix debt pool. Users can trade perps and gain exposure to various assets without holding the actual asset, enabling leveraged long and short exposure. Oracles: The value of all synthetic assets in the Synthetix system is determined by oracles that push price feeds on-chain. The system uses an algorithm with various sources to form an aggregate value for each asset. Content summarized by AI chatbotSource:
https://docs.synthetix.io/Key figures
-33.9%1Y
-54.2%3Y
74.5%5Y
Performance
2/ 21D
3/ 11M
5/ 11Y
Highs/ Lows
30.08.2022
USD 27.06
All Time High
7.78%
% of All Time High
-95.90%All Time
-78.64%1 year
Max drawdown
#119
Ranking by Market Cap
807.23 M
Market cap (USD)
0.00%
% of Market
934.663 B
Category Market Cap (USD)
0.09%
% of Category
339889850
Circulating Supply
339466216
Liquid Supply
99.88%
Liquid/ Circulating Supply
N/A
Not Available Currently
Max Supply
N/A
Not Available Currently
Circulating/ Max Supply
85238197
Volume Traded
10.05%
Volume Traded/ Market Cap
Ratings & reviews
Performance:
0.00
Innovation:
0.00
Society:
0.00
Nature:
0.00
RECOMMENDED CRYPTOS
