Kim:
Synthetix was founded in 2017 by Kain Warwick. Warwick has also previously worked on a stablecoin project called Havven. The Synthetix team consists of experienced software developers and blockchain experts.
It is:
Synthetix is ââa decentralized finance (DeFi) protocol running on the Ethereum blockchain. It offers users synthetic exposure to traditional assets such as stocks, commodities, and currencies.
Where:
Synthetix is ââa decentralized platform and does not depend on any central server or authority. Users can access Synthetix from anywhere in the world with internet access.
When:
Synthetix was launched in 2018. Since then, it has become one of the most popular and innovative protocols in the DeFi space.
From where:
Synthetix is ââdesigned to facilitate access to traditional assets, diversify investments and create a decentralized financial system.
How:
Synthetix uses a lending and borrowing system to create synthetics. Users stake SNX, Synthetix's native token, to create synthetics. Synthetics can also be purchased with other stablecoins such as sUSD (synthetic US Dollar), which users use to purchase the synthetic asset.
Additional Information:
Synthetix's native token is SNX. In addition to being used in governance of the platform, SNX can also be used for staking and creating synthetics.
Synthetix offers many different types of synthetic assets. These assets include stocks, commodities, currencies and indices.
Synthetix is ââan open source platform and can be reviewed and contributed to by anyone.
