Synthetix
About Synthetix
Synthetix is a derivatives liquidity protocol that powers other front-end perp exchanges (like Kwenta). SNX stakers provide collateral backing for synthetic assets and perpetual futures. Synthetix V3 introduced a modular architecture with multi-collateral support. The protocol earns fees from all trading activity on platforms using its liquidity.
Key Features
- Synthetic asset creation
- Perpetual futures liquidity
- Multi-collateral staking (V3)
- Oracle-based pricing
- Protocol fee distribution
- Powers front-ends (Kwenta
- Polynomial)
- Cross-margin accounts
Risks
- High collateralisation requirements (SNX stakers)
- Debt pool risk
- Oracle dependency
- Complex tokenomics
- Front-end dependency
Community & Socials
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