Synthetix

About Synthetix

Synthetix (SNX) is a decentralized derivatives liquidity protocol built on Ethereum. It enables the creation and trading of synthetic assets, called Synths, that track the value of real-world assets including cryptocurrencies, fiat currencies, and commodities. Synthetix uses a hybrid model combining off-chain order matching with on-chain settlement, delivering low latency and deep liquidity while preserving custody and finality on Ethereum. The protocol is backed by staked SNX collateral, which underwrites the sUSD stablecoin and supports the broader liquidity infrastructure. SNX stakers earn fees generated by trading activity across the protocol.