Synthetix Buy Token

www.synthetix.io

Total Value Locked

$658.5M

USD Locked

$658.5M

ETH Supply Locked

144,408,628.95

Blockchain

Ethereum

Change

22.34%

What is synthetix?

The Synthetix platform created on Ethereum allows the creation of Synths, ERC20 tokens referred to as synthetic on-chain assets that track the value of assets in the real world. These are assets such as fiat currencies (sUSD, sAUD, sKRW, etc.), commodities such as gold (sXAU), as well as more complex assets such as stock indices.

Synths makes it possible to hold the underlying asset without actually storing it, taking advantage of its advantages. In addition, with Synthetix, the use of the shared collateral pool allows users to convert different synthetic assets on-chain without the need for a counterparty, paying only the gas and the Synthetix network fee.

Synthetix is the evolution of the stablecoin Havven (HAV) project which is still referred to in the white paper. The native Synthetix token is the Synthetix Network Token (SNX). 

SNX holders can lock a quantity of SNX as collateral in a smart contract and mint Synths. The system will only issue Synths for part of the value of the locked SNX in order to support itself. 

Broadly speaking, the whitepaper explains that Synths are backed by a collateral percentage of 750%, although this threshold may vary up or down in the future.

How to use synthetix?

In addition, the Synthetix protocol is built in such a way as to open a debt position against the stakers when they generate new Synths and to exit the system, thus unlocking their SNXs: basically, in order to pay this debt, Synths tokens must be burned.

All Synth transaction fees that take place on Synthetix's non-depository DEX, will be paid to SNX holders, thereby incentivizing the creation of new Synths and bringing value to the token itself. The market value of SNX is essentially measured by its degree of adoption.  

SNX has recently been integrated into the DEX Switcheo with the SNX-ETH trading pair. 

Synthetix Historical Stats

  • Date
  • TVL (USD)
  • TVL Change
  • Total ETH Locked
  • ETH Locked 1d
  • 05 Aug 2020
  • TVL USD $544,705,500
  • TVL Change $16,924,573.00
  • Total ETH Locked 121,858,054 ETH
  • ETH Locked 1d -5,318,073.15 ETH
  • 04 Aug 2020
  • TVL USD $527,780,927
  • TVL Change $9,955,499.00
  • Total ETH Locked 127,176,127 ETH
  • ETH Locked 1d 5,905,534.89 ETH
  • 03 Aug 2020
  • TVL USD $517,825,428
  • TVL Change $5,042,262.00
  • Total ETH Locked 121,270,592 ETH
  • ETH Locked 1d -13,672,346.39 ETH
  • 02 Aug 2020
  • TVL USD $512,783,166
  • TVL Change $7,635,915.00
  • Total ETH Locked 134,942,939 ETH
  • ETH Locked 1d 7,057,558.44 ETH
  • 01 Aug 2020
  • TVL USD $505,147,251
  • TVL Change $16,032,192.00
  • Total ETH Locked 127,885,380 ETH
  • ETH Locked 1d -9,893,509.77 ETH
  • 31 Jul 2020
  • TVL USD $489,115,059
  • TVL Change $7,592,968.00
  • Total ETH Locked 137,778,890 ETH
  • ETH Locked 1d -9,475,572.45 ETH
  • 30 Jul 2020
  • TVL USD $481,522,091
  • TVL Change $-4,625,143.00
  • Total ETH Locked 147,254,462 ETH
  • ETH Locked 1d 2,135,884.81 ETH
  • 29 Jul 2020
  • TVL USD $486,147,234
  • TVL Change $63,614,678.00
  • Total ETH Locked 145,118,578 ETH
  • ETH Locked 1d -3,138,460.00 ETH
  • 28 Jul 2020
  • TVL USD $422,532,556
  • TVL Change $-35,471,066.00
  • Total ETH Locked 148,257,038 ETH
  • ETH Locked 1d 2,396,011.15 ETH
  • 27 Jul 2020
  • TVL USD $458,003,622
  • TVL Change $-42,005,600.00
  • Total ETH Locked 145,861,026 ETH
  • ETH Locked 1d 3,408,256.37 ETH
  • 26 Jul 2020
  • TVL USD $500,009,222
  • TVL Change $21,562,162.00
  • Total ETH Locked 142,452,770 ETH
  • ETH Locked 1d -2,531,187.83 ETH
  • 25 Jul 2020
  • TVL USD $478,447,060
  • TVL Change $-4,178,161.00
  • Total ETH Locked 144,983,958 ETH
  • ETH Locked 1d -385,084.73 ETH
  • 24 Jul 2020
  • TVL USD $482,625,221
  • TVL Change $-23,165,973.00
  • Total ETH Locked 145,369,043 ETH
  • ETH Locked 1d -392,108.73 ETH
  • 23 Jul 2020
  • TVL USD $505,791,194
  • TVL Change $68,730,619.00
  • Total ETH Locked 145,761,151 ETH
  • ETH Locked 1d 19,443,065.99 ETH
  • 22 Jul 2020
  • TVL USD $437,060,575
  • TVL Change $-462,194.00
  • Total ETH Locked 126,318,085 ETH
  • ETH Locked 1d 12,970,217.55 ETH
  • 21 Jul 2020
  • TVL USD $437,522,769
  • TVL Change $14,196,388.00
  • Total ETH Locked 113,347,868 ETH
  • ETH Locked 1d -13,777,171.61 ETH
  • 20 Jul 2020
  • TVL USD $423,326,381
  • TVL Change $255,086.00
  • Total ETH Locked 127,125,039 ETH
  • ETH Locked 1d 2,692,305.47 ETH
  • 19 Jul 2020
  • TVL USD $423,071,295
  • TVL Change $7,774,309.00
  • Total ETH Locked 124,432,734 ETH
  • ETH Locked 1d -1,414,837.91 ETH
  • 18 Jul 2020
  • TVL USD $415,296,986
  • TVL Change $2,995,955.00
  • Total ETH Locked 125,847,572 ETH
  • ETH Locked 1d -6,725,107.12 ETH
  • 17 Jul 2020
  • TVL USD $412,301,031
  • TVL Change $-1,213,995.00
  • Total ETH Locked 132,572,679 ETH
  • ETH Locked 1d -2,562,950.55 ETH