Synthetix is a decentralized protocol for derivatives and synthetic assets, serving as a core liquidity layer for decentralized finance (DeFi). It enables the creation and trading of collateral-backed synthetic assets and perpetual futures, offering users exposure to real-world assets through decentralized derivatives. Collateral, typically the SNX token or other supported assets, is staked to back the issuance of synthetic assets known as Synths, which mirror the value of underlying assets such as cryptocurrencies, commodities, and indices. Prices are maintained by decentralized oracles, while Synthetix operates with onchain settlement and offchain order matching, enabling perpetual futures trading while maintaining non-custodial custody of user assets on Ethereum Mainnet.
Categories
DeFiDEXHybrid order book (onchain settlement + offchain matching)
Initial circulating supply
100,000,000 SNX
Initial total supply
100,000,000 SNX
Circulating supply
344,516,234 SNX
Total supply
344,939,867 SNX
Max supply SNX has never had a fixed supply cap. In the early years of the protocol, the supply increased through a planned inflation schedule. After a governance vote, inflation was halted, resulting in a current total supply of 343,889,850 SNX. This does not constitute a fixed max supply, as governance still retains the authority to re-enable inflation or modify the token issuance mechanism in the future.
Synthetix is a decentralized protocol for derivatives and synthetic assets, serving as a core liquidity layer for decentralized finance (DeFi). It enables the creation and trading of collateral-backed synthetic assets and perpetual futures, offering users exposure to real-world assets through decentralized derivatives. Collateral, typically the SNX token or other supported assets, is staked to back the issuance of synthetic assets known as Synths, which mirror the value of underlying assets such as cryptocurrencies, commodities, and indices. Prices are maintained by decentralized oracles, while Synthetix operates with onchain settlement and offchain order matching, enabling perpetual futures trading while maintaining non-custodial custody of user assets on Ethereum Mainnet.
Categories
DeFiDEXHybrid order book (onchain settlement + offchain matching)
Initial circulating supply
100,000,000 SNX
Initial total supply
100,000,000 SNX
Circulating supply
344,516,234SNX
Total supply
344,939,868SNX
Max supply SNX has never had a fixed supply cap. In the early years of the protocol, the supply increased through a planned inflation schedule. After a governance vote, inflation was halted, resulting in a current total supply of 343,889,850 SNX. This does not constitute a fixed max supply, as governance still retains the authority to re-enable inflation or modify the token issuance mechanism in the future.
