What is Synthetix?

Symbol: SNX · Market cap rank: #271

Short answer

Synthetix (SNX) is a cryptocurrency currently ranked #271 by market capitalisation.

Source: isthiscoinascam.com

Overview

Synthetix is a decentralized perpetual futures protocol that operates on the Ethereum Mainnet. It utilizes a hybrid architecture combining off-chain order matching and on-chain settlement, aiming to provide low latency and deep liquidity while maintaining custody and finality on the Ethereum blockchain.

The liquidity in the Synthetix ecosystem is supplied by the Synthetix Liquidity Provider vault, which is supported by staked SNX collateral. This collateralization underpins the issuance of the sUSD stablecoin and ensures the solvency of the liquidity provider vault.

Scam-risk analysis

Synthetix has a high score, indicating low scam risk based on the available data. Is Synthetix a scam?

See the full report

Live price, holders, audits and the complete scam-risk breakdown.

Open the full Synthetix report →