Synthetix

Synthetix Product Introduction

• Overview: Synthetix is a decentralized finance (DeFi) protocol focused on providing liquidity, infrastructure, and derivatives products for users and protocols. Governed by a DAO, Synthetix has been a prominent name in decentralized derivatives since its launch in 2018.
• Core Features: Synthetix offers permissionless derivatives trading, including perpetual futures, options, parimutuel markets, and more, across multiple EVM-compatible chains. Its core product involves synthetic assets (Synths), created by locking the native token SNX, representing real-world assets like stocks and indices.
• Product Versions: Synthetix has evolved through Perps V1, V2, and the latest V3 versions. Perps V3 is the most advanced deployment, supporting modern applications with ongoing migration initiatives. V3 addresses limitations of V2, such as the single debt pool and SNX-only collateral constraints.
• Staking Rewards: Users can stake SNX and sUSD to earn generous rewards while providing liquidity to the protocol.
• Network Support: Synthetix is deployed on multiple networks, including Ethereum mainnet, Optimism, and Arbitrum, addressing scalability issues and enhancing liquidity.
• Ecosystem Integration: Synthetix powers various DeFi applications such as Kwenta, Decentrex, Lyra, and Thales, covering perpetuals, options, sports betting, and vaults, with revenue directly benefiting stakers.
• Advantages: Synthetix offers deep liquidity, low fees, and extensive resources for developers to build front-end applications, while providing traders with no-KYC, borderless access to global markets, tradable 24/7 via crypto wallets.
• Mission: Synthetix aims to deliver a best-in-class decentralized derivatives trading experience for traders and builders, serving as a backbone for derivatives trading in DeFi.