Average Ratings 0 Ratings
Average Ratings 0 Ratings
Description
The ultimate aim is to provide a substitute for traditional fiat currencies, much like the original intention behind cryptocurrency, yet utilizing different methods than those employed by bitcoin. By combining various tokenized assets into cohesive groups, we aspire to develop currencies that maintain stable purchasing power independent of government-backed money. While we have yet to select specific asset groups, we envision that ideal combinations will encompass commodities, debt instruments, and possibly even stocks. However, regulatory challenges may hinder what can be included in these baskets, presenting a current obstacle in our strategy. Additionally, our protocol must be designed to adapt and evolve these baskets over time, recognizing that what is considered optimal today may not remain so in the future. This dynamic approach aims to ensure resilience and relevance in the ever-changing financial landscape.
Description
Synthetix is a protocol for the issuance of decentralized synthetic assets operating on the Ethereum blockchain. These synthetic assets, known as Synths, are backed by the Synthetix Network Token (SNX), which, when locked within the contract, allows for the creation of these assets. The model of pooled collateral permits users to exchange Synths directly through the smart contract, eliminating the necessity for counterparties. This innovative approach addresses common problems such as liquidity and slippage that decentralized exchanges often face. Currently, Synthetix provides synthetic representations of fiat currencies, cryptocurrencies (both long and short), as well as various commodities. SNX holders are motivated to stake their tokens, as they earn a proportional share of the fees accrued from transactions on Synthetix.Exchange, reflecting their stake in the ecosystem. This right to engage with the network and earn fees from Synth transactions contributes to the intrinsic value of the SNX token. Notably, traders do not need to hold SNX in order to participate in trading on Synthetix.Exchange, enhancing accessibility for a broader audience. By doing so, Synthetix opens the door for more users to engage in trading without needing to invest in the underlying token initially.
API Access
Has API
API Access
Has API
Integrations
1inch
1inch Wallet
Armor.Fi
Blocknative
CoinLedger
Crypto APIs
Enzyme
Kriptomat
Ledger Nano X
Morpho
Integrations
1inch
1inch Wallet
Armor.Fi
Blocknative
CoinLedger
Crypto APIs
Enzyme
Kriptomat
Ledger Nano X
Morpho
Pricing Details
No price information available.
Free Trial
Free Version
Pricing Details
No price information available.
Free Trial
Free Version
Deployment
Web-Based
On-Premises
iPhone App
iPad App
Android App
Windows
Mac
Linux
Chromebook
Deployment
Web-Based
On-Premises
iPhone App
iPad App
Android App
Windows
Mac
Linux
Chromebook
Customer Support
Business Hours
Live Rep (24/7)
Online Support
Customer Support
Business Hours
Live Rep (24/7)
Online Support
Types of Training
Training Docs
Webinars
Live Training (Online)
In Person
Types of Training
Training Docs
Webinars
Live Training (Online)
In Person
Vendor Details
Company Name
Reserve
Founded
2018
Website
reserve.org/es/protocol/
Vendor Details
Company Name
Synthetix
Founded
2017
Country
Australia
Website
synthetix.io