Synthetix Network SNX
1. Summary
- Price
-
$2.17 +8.3%
- Market Cap
- $733.78M (#134)
- Supply
- 327.77M / 328.19M
- Description
-
Synthetix is essentially a token trading platform that is built on Ethereum and allows for the creation of real-world assets such as stocks and shares to be bought and traded through the usage of cryptocurrencies. It started out as a stablecoin, and over time went into DeFi.
Synthetix is essentially a token trading platform that is built on Ethereum and allows for the creation of real-world assets such as stocks and shares to be bought and traded through the usage of cryptocurrencies. It started out as a stablecoin, and over time went into DeFi.
In other words, Synthetix allows users to bet on crypto assets, stocks, currencies, and metals in the form of ERC20 tokens. These assets are known as Synths and copy the price of an asset in the real world, and bring it to the Ethereum blockchain which gives a Synth all of the properties of ERC20 tokens.
Synthetix allows this through code alone, without a need for a financial intermediary. It is simply a collection of smart contracts that runs on the Ethereum blockchain, and this means that it does not need to trust a particular institution or person to manage the crypto assets that they create.
These can also be generated through collateralization.
The SNX Token Explained
To collateralize an asset on Synthetix, you have to purchase the SNX cryptocurrency, where once it is locked in a contract, it can be used to generate new assets known as Synths.
Synths are then able to track the value of other assets through the usage of special data feeds known as oracles, and these enable users to gain exposure to gains or losses.
Synthetix uses two cryptocurrencies in order to offer its synthetic asset minting service, where the first is its native cryptocurrency known as SNX while the second is the Synths.
A user has to acquire SNX, deposit it in the Synthetix platform, and in turn, a Synth token is generated.
Features of Synthetix
Synthetic is designed in a way that exposes users to the underlying asset through Synths, without needing to actually hold the underlying asset.
This platform allows users to trade and exchange Synths autonomously, and has a staking pool where holders can actually stake their SNX tokens and are rewarded with a share of the transaction fees that occur on the Synthetix Exchange.
These underlying platforms are tracked through the usage of smart contract price delivery protocols known as oracles. Users can trade Synths seamlessly and without liquidity issues, which also eliminates the use of third parties.
Founders of Synthetix (SNX)
Discussing the founders of Synthetix, the network was launched in September of 2017 by Karin Warwick as Havven (HAV). A year later, it became what we know today as Synthetix through rebranding.
Now, discussing Kain Warwick, aside from this project, he is a non-executive director at the blueshift retail network, and he also worked on Pouncer, of which he is the founder, which is a live auction site in Australia.
Then you have Peter McKean, who’s the CEO of the project and has decades of experience in software development, as well as Jordan Momatzi, who is the COO of the project as well as a business strategist, and last but not least, Justin J. Moses who fills the role of the CTO and is a former director of engineering at MongoDB.
| Price | |
| 52W High price | $5.09 |
| 52W High date | 26th Mar 2024 (8 months ago) |
| All Time High (ATH) Date | 14th Feb 2021 (3 years ago) |
| ATH Price | $28.53 |
| % From ATH | -95.58% |
| All Time Low (ATL) Date | 6th Jan 2019 (5 years ago) |
| ATL Price | $0.03 |
| % From ATL | 3524.46% |
| Supply & Trading Volume | |
| Trading Volume (24h) | $104.82M |
| Total Supply | 328.19M |
| Max Supply | 328.19M |
| Circulating Supply | 327.77M |
SNX
How does Synthetix Network's (SNX) performance compare to the median performance for assets of a similar market capitalization?
30 Day Return
-9.1%
SNX
-3.8%
Similar Market Cap
60 Day Return
-1.3%
SNX
11.4%
Similar Market Cap
1 Year Return
-48.0%
SNX
349.7%
Similar Market Cap
We're monitoring 147 Synthetix Network GitHub repos for commits, code additions and deletions. This data is factored into the Developer Rank. Because of delays in GitHub's stat processing, recent activity maybe underrepresented.
Weekly Commits (All Synthetix Network Repos)
Commits vs. The Market
- Past 4 weeks: 1 commits vs. an average of 1
- Past 12 weeks: 7 commits vs. an average of 7
- Past year: 251 commits vs. an average of 104
Most Active Repos
| Past week | 8 |
|---|---|
| Past 12 weeks | 102 |
| Past year | 1034 |
| Past week | 19 |
|---|---|
| Past 12 weeks | 136 |
| Past year | 995 |
| Past week | 16 |
|---|---|
| Past 12 weeks | 91 |
| Past year | 745 |
| Past week | 36 |
|---|---|
| Past 12 weeks | 169 |
| Past year | 700 |
| Past week | 69 |
|---|---|
| Past 12 weeks | 109 |
| Past year | 356 |
| Past week | 0 |
|---|---|
| Past 12 weeks | 0 |
| Past year | 326 |
Top Developers 2024
In total, 728 developers have contributed to Synthetix Network over the past year. Who are the most active Synthetix Network developers, by commits, over the past year?
Related Projects
Developers working on Synthetix Network also worked on these projects.
Tip: Toggle each network by clicking the name above
Historic data is only available from 22nd April 2022
Total Followers
| Reddit Subscribers | 9,427 |
|---|---|
| Active Reddit Users (past 24h) | 12 |
| Discord users | 16,427 |
| Active Discord Users | 2,227 |
| Telegram Users | 11,257 |
| Twitter followers | 249,024 |
-
blog.synthetix.io/gasless-1-click-trading-comes-to-base/ Official
-
sips.synthetix.io/sccp/sccp-373/ Official
-
sips.synthetix.io/sips/sip-405/ Official
-
blog.synthetix.io/snxweave-weekly-recap-162/ Official
-
blog.synthetix.io/snxweave-weekly-recap-162/ Official
-
sips.synthetix.io/sccp/sccp-29 Official
-
sips.synthetix.io/sccp/sccp-29 Official
-
blog.synthetix.io/synthetix-exchange-launches-with-multi-collateral-perps-on-base/ Official
-
blog.synthetix.io/synthetix-exchange-launches-with-multi-collateral-perps-on-base/ Official
-
sips.synthetix.io/sccp/sccp-375/ Official
-
sips.synthetix.io/sccp/sccp-375/ Official
-
sips.synthetix.io/sccp/sccp-375/ Official
-
sips.synthetix.io/sccp/sccp-375/ Official
-
sips.synthetix.io/sccp/sccp-375/ Official
-
sips.synthetix.io/sccp/sccp-375/ Official
-
blog.synthetix.io/synthetix-perps-go-mobile-with-mass/ Official
-
blog.synthetix.io/synthetix-perps-go-mobile-with-mass/ Official
-
blog.synthetix.io/synthetix-perps-go-mobile-with-mass/ Official
-
blog.synthetix.io/synthetix-perps-go-mobile-with-mass/ Official
-
blog.synthetix.io/synthetix-perps-go-mobile-with-mass/ Official
-
blog.synthetix.io/synthetix-perps-go-mobile-with-mass/ Official
-
blog.synthetix.io/snxweave-weekly-recap-161/ Official
-
blog.synthetix.io/snxweave-weekly-recap-161/ Official
-
blog.synthetix.io/snxweave-weekly-recap-161/ Official
Always do your own research (DYOR) before making any investment. Here's some links you might find helpful:
| Website | https://www.synthetix.io/ |
|---|---|
| Explorer | https://etherscan.io/token/0xc011a73ee8576fb46f5e1... |
| @synthetix_io | |
| /r/synthetix_io | |
| Whitepaper | https://www.synthetix.io/uploads/synthetix_whitepaper.pdf |
What is the correct contract address for Synthetix Network?
| Base | 0x22e6966b799c4d5b13be962e1d117b56327fda66 |
|---|---|
| Energi | 0xa255461ff545d6ece153283f421d67d2de5d0e29 |
| Fantom | 0x56ee926bd8c72b2d5fa1af4d9e4cbb515a1e3adc |
| Ethereum | 0xc011a73ee8576fb46f5e1c5751ca3b9fe0af2a6f |
| Avalanche | 0xbec243c995409e6520d7c41e404da5deba4b209b |
| Huobi-token | 0x777850281719d5a96c29812ab72f822e0e09f3da |
| Polygon-pos | 0x50b728d8d964fd00c2d0aad81718b71311fef68a |
| Near-protocol | c011a73ee8576fb46f5e1c5751ca3b9fe0af2a6f.factory.bridge.near |
| Harmony-shard-0 | 0x7b9c523d59aefd362247bd5601a89722e3774dd2 |
| Optimistic-ethereum | 0x8700daec35af8ff88c16bdf0418774cb3d7599b4 |
Has Synthetix Network been audited for security?
No security audits found for this project.
Are you the owner of Synthetix Network? Edit it here
Subscribe for free
Investment alerts and insights directly in your inbox.
By continuing, you agree to the Stack Terms of Service and Privacy Policy.